THE RUPEE: steadier trend

The rupee sustained its overnight levels in terms of the dollar on the money market on Saturday in the process of trading, dealers said. The rupee showed no change in relation to the greenback for buying and selling at Rs 117.30 and Rs 117.80, they said. The rupee, however, fell by 15 paisas versus the euro for buying and selling at Rs 139.75 and Rs 141.25, they added.
OPEN MARKET RATES: In the final US trade, the dollar fell for a third day on Friday against a basket of currencies as traders booked gains on its recent run-up spurred by the widening interest rate gaps in favour of the United States and signs of cooling growth in the rest of the world.
The Swedish crown continued its rally, as more traders exited their bearish bets on hints that some Riksbank officials are open to raising interest rates despite worries about low inflation.
The euro rose for a second day as the greenback retreated further from a 2018 peak reached earlier this week. The single currency, however, was still on track for a loss for a fourth straight week against the dollar.

========================

Open Bid       Rs.117.30

Open Offer     Rs.117.80

========================

RUPEE IN LAHORE: The Pak rupee depreciated against the US dollar in the local currency market on Saturday.
According to currency dealers, the short supply phenomenon of the US dollar prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 117.20 and Rs 117.75 as compared to the overnight closing trend of Rs 117.10 and Rs 117.65 respectively.
Moreover, the national currency recovered by 10 paisas against the pound sterling for buying at Rs 157.70 whereas it did not witness any change as it firmly held its opening trend for selling at Rs 158.50, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 50 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 117.50 (buying) and Rs 118 (selling) against last rate of Rs 118 (buying) and Rs 118.50 (selling). It closed at Rs 117.50 (buying) and Rs 118 (selling).
Copyright Business Recorder, 2018