KARACHI: Rupee's appreciation versus the dollar continued on the money market on Saturday in the process of trading, dealers said. The rupee recovered more 10 paisas in terms of the dollar for buying at Rs 107.60 and it also gained 20 paisas for selling and Rs 107.80, they said. The rupee, however, lost 30 paisas in terms of the euro for buying and selling at Rs 114.10 and Rs 115.60 respectively, they said.
OPEN MARKET RATES: At the weekend, the dollar edged lower in choppy trading as investors found few reasons to make big bets on the US currency following newly sworn-in President Donald Trump's inauguration speech.
The dollar index, which tracks the greenback against six major currencies, briefly fell to session lows during Trump's remarks in which he pledged to put "America first," reigniting some worries of protectionist policies. But the decline was modest as Trump did not touch on specific economic or trade policies.
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Open Bid Rs.107.60
Open Offer Rs.107.80
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RUPEE IN LAHORE: The local currency appreciated against the US dollar in the local currency market here on Saturday.
According to currency dealers, the US dollar commenced trading on a depressed note amidst lack of buyers' interest in the market. Consequently, it slid at Rs 107.50 and Rs 108.00 on buying and selling sides, respectively, as compared to overnight trend of Rs 107.70 and Rs 108.30, respectively, they added.
On the contrary, the Pakistani rupee failed to sustain as it depreciated versus the pound sterling. The pound's buying and selling rates went up from the Friday's closing rates of Rs 131.40 and Rs 132.50 to Rs 132.00 and Rs 133.20, respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of dollar against the rupee remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 108.30 (buying) and Rs 108.40 (selling) against same last rate, and closing was seen at the same levels.
Pound Sterling opened at Rs 130 (buying) and Rs 131.50 (selling). It did not observe further change in the second session and closed at Rs 130 (buying) and Rs 131.50 (selling).
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