THE RUPEE: stable trend

Firmness prevailed on the currency market on Saturday as the rupee did not move any side in the process of trading, experts said. The rupee maintained overnight levels against the dollar for buying and selling Rs 111.20 and Rs 111.50 respectively, they said. The rupee lost one rupee against the euro for buying at Rs 135.00 and selling at Rs 137.00, they added.
OPEN MARKET RATES: In the final NY trade, the dollar rose on Friday for its strongest week against a basket of currencies in nearly 15 months as some traders piled into the greenback in a week of tremendous swings felt in stock and bond markets around the world.
The US currency recovered further from a three-year low set two weeks ago. Some traders have bought it to close out their bets on its weakness, while others favoured the dollar in a safe-haven move over higher-returning but riskier currencies, analysts said.

Open Market Rates: Open Market Rates For Dollar on Saturday.

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Open Bid       Rs 111.20

Open Offer     Rs 111.50

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RUPEE IN LAHORE: The Pak rupee witnessed divergent trend in terms of trading against the greenback in the local currency market on Saturday.
According to currency dealers, the demand and supply situation of the greenback continued fluctuating throughout the trading session.
At the close, it was ended at Rs 110.80 and Rs 111.20 for buying and selling, respectively, as compared to the overnight closing trend of Rs 110.70 and Rs 111.40 respectively, they added.
The local currency, however, failed to hold its earlier recoveries versus the pound sterling. The pound's buying and selling rates rose from Friday's closing of Rs 150.80 and Rs 151.80 to Rs 151.85 and Rs 152.90 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 111.25 (buying) and Rs 111.35 (selling), during the day it did not show any change and closing was seen at the same levels, dealers said.
Copyright Business Recorder, 2018