Firmness prevailed on the money market as the rupee sustained overnight levels against the dollar in the process of trading activity, dealers said.
OPEN MARKET RATES: The rupee did not show any change in terms of the dollar for buying and selling at Rs 118.20 and Rs 118.70 respectively, they said. The national currency, however, gained 75 paisas versus the euro for buying and selling at Rs 137.50 and Rs 139.00 respectively, they said.
In the final US trade, the dollar rose against a basket of peers on Friday and was on pace to finish the week at its strongest since mid-November, as commodity-linked currencies fell following a slump in oil prices and as political concerns in Italy and Spain hurt the euro.
The dollar index, which measures the greenback against a basket of six currencies, was up 0.44 percent at 94.166, after hitting a high of 94.249, its strongest since mid-November. The index was up 0.6 percent for the week.
Oil prices fell about $2 on Friday as Saudi Arabia and Russia discussed easing supply curbs that have helped push crude prices to their highest since 2014.
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Open Bid Rs.118.20
Open Offer Rs.118.70
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RUPEE IN LAHORE: The Pak rupee depreciated on buying side while it stayed unchanged on selling side in relation to the greenback in the local currency market on Saturday.
According to currency dealers, the greenback commenced trading on its overnight closing of Rs 118.20 and Rs 118.70 as its buying and selling rates, respectively. At the close, the greenback could not sustain and lost 25 paisas for buying at Rs 118.45. However, it did not witness any change for selling as it firmly held its opening trend till close of trading, they added.
In addition, the local currency witnessed divergent trend in process of trading against the pound sterling. The British currency was bought and sold at Rs 157.25 and Rs 158.00 against Friday's closing rates of Rs 157.00 and Rs 158.50 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar further gained 50 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 119 (buying) and Rs 119.10 (selling) against last rate of Rs118.50 (buying) and Rs 118.60 (selling). It closed at Rs 119 (buying) and Rs 119.10 (selling.
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