THE RUPEE: firm trend
The rupee held the overnight levels against the dollar on the money market on Saturday, in the process of trading, dealers said. The rupee did not move any side in terms of the dollar for buying and selling at Rs 102.80 and Rs 103.00 respectively, while it lost 25-paisa versus the euro for buying and selling at Rs 112.25 and Rs 113.25, they said.
OPEN MARKET RATES: At the week-end, the dollar dropped from a near four-month high against a currency basket, as investors pared back bullish bets on the greenback following a solid US jobs report. The dollar also had earlier risen to a two-month peak versus the yen and a near five-month high against the Swiss franc. By midday trading, however, the US currency gave up those gains as well, in line with the drop in long bond yields.
Interbank Closing Rates: Interbank Closing Rates For Dollar on Saturday.
RUPEE IN LAHORE:
The rupee-dollar parity was stagnant on the local currency market on Saturday, with the dollar resuming trading at its overnight closing of Rs 102.85 and Rs 103.30 as its buying and selling rate, respectively.
The dollar never saw any change in its demand and supply that helped the rupee stability instead.
The opening rates continued to prevail till close of trading though a stable rupee also showed strength against the pound sterling which was traded at Rs 158.70 and Rs 159.30 on the buying and selling counter compared with the Friday closing of Rs 158.80 and Rs 159.80, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI:
The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 102 (buying) and Rs 102.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 102 (buying) and Rs 102.20 (selling).
Pound Sterling opened at Rs 157 (buying) and Rs 157.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 157 (buying) and Rs 157.50 (selling).
Copyright Business Recorder, 2015