THE RUPEE: mixed pattern seen

The rupee moved both ways on the currency market on Saturday in process of trading, dealers said. The rupee gained 30 paisa in terms of dollar for buying and selling at 86.80 and 87.30, they added. The rupee, however, lost 83 paisa against euro for buying and selling at Rs 119.89 and Rs 120.39, they said.
OPEN MARKET RATES: At the weekend, euro headed for its best week in nine months against dollar on optimism that European leaders would take bold steps to tackle the debt crisis, but a lack of concrete actions could limit further gains.
Group of 20 finance ministers and central bank chiefs began a two-day meeting in Paris on Friday, a day after the euro zone's 17 member nations completed their approval of the expansion of the region's bailout fund. nHopes that officials will agree on the outlines of a plan in time for a European Union summit on October 23 boosted euro. Discussions that China, India and other fast-growing economies might bolster the capital base of the International Capital Fund to help rescue Greece further lifted sentiment.

Open Market Rates: Open Market Rates For Dollar on Saturday.

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Buying          Rs 86.80

Selling         Rs 87.30

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RUPEE IN LAHORE: The rupee gained 20 paisa on buying side and 10 paisa on selling side in relation to dollar in Lahore currency market on Saturday.
According to dealers, the dollar declined to Rs 87.00 and Rs 87.50 as buying and selling rates against Friday's Rs 87.20 and Rs 87.60, respectively.
However, the rupee sustained loss against pound sterling. The pound was traded at Rs 137.00 and Rs 137.50 on buying and selling side as compared to overnight Rs 136.50 and Rs 137.00, respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the currency markets of Islamabad and Rawalpindi on Saturday.
The dollar opened at Rs 88.55 (buying) and Rs 88.65 (selling) against same last rates. It did not observe further change in the second session and closed at Rs 88.55 (buying) and Rs 88.65 (selling).
Pound sterling opened at Rs 137.80 (buying) and Rs 137.90 (selling) against same overnight values. It did not observe further change in the evening session and closed at Rs 137.80 (buying) and Rs 137.90 (selling).
Copyright Business Recorder, 2011