THE RUPEE: dollar gains marginally

The rupee drifted lower against dollar and euro on the currency market on Saturday in process of trading, dealers said. The rupee gave up rising trend against the greenback as it shed five paisa for buying and selling at 90.85 and 91.05, they said.
OPEN MARKET RATES: In relation to euro the rupee continued sliding, losing further 89 paisa for buying at Rs 121.79 and shedding 39 paisa for selling at Rs 122.29, they said. At the weekend euro rose to its highest in more than two months against dollar in a rally that could be sustained in the near term, boosted by general optimism about the euro zone crisis and next week's round of cheap money from the European Central Bank.
The euro, rising for a third straight day, broke above the key 100-day moving average against dollar for a second consecutive session. It also breached key resistance around $1.3435, the 50 percent retracement of the decline from the late October peak to the mid-January trough.

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Open Buying     Rs 90.80

Open Selling    Rs 91.00

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RUPEE IN LAHORE: The Pak rupee stayed unchanged on buying side while it gained five-paisa on selling side in relation to the greenback in the local currency market on Saturday.
According to the currency dealers, the dollar commenced trading at its overnight closing of Rs 90.80 and Rs 91.15 as its buying and selling rates, respectively. At the end of trading, the dollar was closed at Rs 90.80 and Rs 91.10 on buying and selling counters, respectively, the dealers said.
However, rupee maintained downward slide and was further depreciated against the pound sterling. The pound's buying and selling rates were improved from Friday closing of Rs.142.50 and Rs.143.00 to Rs.143.50 and Rs.144.00, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of dollar against the rupee remained unchanged at the local currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar resumed trading at Rs.91 (buying) and Rs.91.20 (selling) against same overnight value. Ever-favourite greenback did not witness any further change in the last trading hours and closed at Rs.91 (buying) and Rs.91.20 (selling).
Pound Sterling resumed trading at Rs.142 (buying) and Rs.142.50 (selling) against same previous rate. British currency did not observe further change in the evening session and closed at Rs.142 (buying) and Rs.142.50 (selling).
Copyright Business Recorder, 2012