THE RUPEE: upward trend on open market

Rising trend was seen on the open market on Saturday as the rupee posted fresh gains against dollar and euro, dealers said. The rupee picked up 10 paisa in relation to dollar for buying at 91.00 and gained five paisa for selling at 91.20, they said.
OPEN MARKET RATES: The rupee managed to recover 78 paisa in terms of euro for buying at Rs 118.62 and rose by Rs 1.28 for selling at Rs 119.12, they said. At the weekend euro fell, sliding for a second straight week against dollar and yen as rising Spanish borrowing costs spooked investors already reluctant to hold the single currency over the weekend.

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Open Buying     Rs 91.00

Open Selling    Rs 91.20

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RUPEE IN LAHORE: The Pak rupee-dollar parity remained unchanged for the fourth consecutive day on the local currency market on Saturday.
According to the currency dealers, there was no change in the dollar's demand and supply situation that helped rupee stability in the open market.
The dollar commenced trading at its overnight closing of Rs 91.1 and Rs 91.3 on buying and selling sides, respectively. The opening rates continued to prevail throughout the day's trading.
On the other hand, the local currency recovered some of its earlier loss and was improved against the pound sterling. The pound was traded at Rs 144.2 and Rs 144.45 on buying and selling counters as compared to Friday closing of Rs 144.3 and Rs 144.8, respectively, the dealers 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 resumed trading at Rs 91 (buying) and Rs Rs 91.20 (selling) against same previous rate. It did not observe any further change in the second session and closed at Rs 91 (buying) and Rs 91.20 (selling).
Pound Sterling opened at Rs 142 (buying) and Rs 142.50 (selling) against same previous rate. It did not observe further change in the second session and closed at Rs 142 (buying) and Rs 142.50 (selling).
Copyright Business Recorder, 2012