The dollar easily crossed the level of Rs 91 on the currency market on Saturday in process of trading, they said. The rupee lost 45 paisa in relation to dollar for buying and selling at 91.10 and 91.30, they said. Versus euro the rupee, however, rose by nine paisa for buying and selling at Rs 115.48 and Rs 115.98, they said.
Reuters adds: It has been a rough start to 2012 for the euro and it won't get any easier next week as the region grapples with a possible recession and two of its larger economies conduct a crucial test of investors' appetite for their debt.
OPEN MARKET RATES: In the first week of the year the euro has lost 1.8 percent and 1.6 percent of its value versus the safe-haven US dollar and yen, respectively. The losses were largely driven by a growing contrast between the recovery in the world's largest economy and Europe, which is widely believed to be either in, or headed toward, a recession.
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Open Buying Rs 91.10
Open Selling Rs 91.30
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RUPEE IN LAHORE: The rupee lost 30 paisa against dollar on Lahore currency market on Saturday.
According to dealers, the dollar ended higher at Rs 91.10 and Rs 91.50 as buying and selling rates against Friday's Rs 90.80 and Rs 91.20, respectively.
However, the rupee appreciated against pound sterling which declined to Rs 140.00 and Rs 140.80 as buying and selling rates from overnight Rs 140.30 and Rs 141.00, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against dollar at the currency markets of Islamabad and Rawalpindi on Saturday.
The dollar opened at Rs 89 (buying) and Rs 89.20 (selling) against same last rates. It did not observe further change in the second session and closed at Rs 89 (buying) and Rs 89.20 (selling).
Pound sterling opened at Rs 138 (buying) and Rs 138.90 (selling) against same last rates. It did not observe further change in the evening session and closed at Rs 138 (buying) and Rs 138.90 (selling).
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