The rupee held overnight levels for the second day against the dollar on the money market on Saturday in the process of trading, currency experts said. The rupee sustained overnight levels in terms of the dollar for buying and selling Rs 111.90 and Rs 112.20 respectively, they said.
OPEN MARKET RATES: The rupee managed to extend overnight gains in relation to the euro, picking up 25 paisas for buying and selling at Rs 136.75 and Rs 138.25 respectively, they added.
In the final NY trade, the dollar edged higher against a basket of major currencies on Friday, extending its recovery from a three-year low last week, as the potential for a more aggressive US Federal Reserve prompted investors to pare bearish bets against the greenback.
The dollar index, which measures the greenback against a basket of six other major currencies, was up 0.12 percent at 89.847. The index hit a three-year low of 88.253 on Feb 16.
"You have seen sentiment around the dollar shift," said Charles Tomes, senior investment analyst and trader at Manulife Asset Management in Boston.
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Open Bid Rs 111.90
Open Offer Rs 112.20
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RUPEE IN LAHORE: The Pak rupee-dollar parity remained unchanged for another day amidst sluggish trend in the local currency market on Saturday.
According to currency dealers, the US dollar resumed trading on its overnight closing of Rs 112.00 and Rs 112.30 as its buying and selling rates, respectively.
They said the trading activity of the dollar remained firmed for the second consecutive day as its opening rates prevailed till close of trading.
In addition, the national currency maintained declining trend for another day in terms of trading against the British pound.
The pound's buying and selling rates further rose from Friday's closing of Rs 155.20 and Rs 156.00 to Rs 155.30 and Rs 156.10 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 40 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 111.85 (buying) and Rs 111.95 (selling) against last rate of Rs 111.45 (buying) and Rs 111.55 (selling). It closed at the same levels.
The dollar opened with a loss of 10 paisas at Rs 111.55 (buying) and Rs 111.65 (selling) against last rate of Rs 111.65 (buying) and Rs 111.75 (selling). It closed at Rs 111.55 (buying) and Rs 111.65 (selling).
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