Firmness prevailed on the money market on Saturday as the rupee held levels for the second day against the dollar in the process of trading, money experts said. The rupee showed no visible change in terms of the dollar for buying and selling at Rs 116.20 and Rs 116.60 respectively, they said. The rupee also did not move any side versus the euro for buying and selling at Rs 141.50 and Rs 143.30 respectively, they added.
OPEN MARKET RATES: In the final NY trade, the dollar fell on Friday, undermined by the ongoing trade dispute between China and the United States and a report showing the US economy in March created the fewest jobs in six months. The greenback slid against the safe-haven yen and Swiss franc in the wake of new comments from China. China on Friday warned it would fight back "at any cost," hours after US President Donald Trump threatened to slap tariffs on an additional $100 billion in Chinese goods. Losses in the dollar escalated after China's.
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Open Bid Rs.116.20
Open Offer Rs.116.60
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RUPEE IN LAHORE: The Pak rupee showed strength and gained 15-paisa on buying side (Rs 116.30) while it remained unchanged on selling side (Rs 116.8) in relation to the greenback in the local currency market on Saturday.
The dollar resumed trading on a depressed note and failed to maintain its day earlier position. The dollar declined from the overnight closing of Rs 116.45 to Rs 116.30 on buying side while its selling rate stayed unchanged at Rs 116.80, the dealers said.
On the contrary, the rupee remained under pressure and depreciated its wroth against the pound sterling that was traded at Rs 162.30 and Rs 163.30 on buying and selling counter as compared to Friday closing of Rs 161.90 and Rs 162.60, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee showed a recovery of Re 1 against dollar at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 115.70 (buying) and Rs 115.80 (buying) against last rate of Rs 116.70 (buying) and Rs 116.80 (buying). It closed at Rs 115.70 (buying) and Rs 115.80 (buying).
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