THE RUPEE: Stable trend

The rupee managed to hold overnight levels against the dollar on the money market on Saturday in the process of trading activity, dealers said.

OPEN MARKET RATES: The rupee was almost unchanged in terms of the dollar for buying and selling at Rs 155.20 and Rs 155.50 respectively, they said. The rupee gained modestly against the euro for buying and selling at Rs 170.50 and Rs 172.00 respectively, they said.

In the final Asian trade, the dollar rallied to a three-week high on Friday, getting some safe-haven bids, as risk appetite for higher-yielding currencies waned with renewed uncertainty about the rollback of existing tariffs, a major component of a preliminary US-China trade deal.

The Japanese yen, another safe haven, rose as well.

US President Donald Trump on Friday further magnified the uncertainty, saying he had not agreed to roll back tariffs.

His comments came a day after US and Chinese officials reportedly agreed to roll back tariffs on each others' goods in a "phase one" trade deal if it is completed.

But a report also on Thursday seemed to contradict that news, with multiple sources saying the rollback faces fierce internal opposition at the White House and from outside advisers.

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Open Bid       Rs.155.20
Open Offer     Rs.155.50
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RUPEE IN LAHORE: The Pak rupee remained depressed and lost 15-paisa on buying side and 20-paisa on selling side in relation to the greenback in the local currency market on Saturday.

According to the currency dealers, the dollar resumed trading on a healthy note and registered gain following fresh buying. At close of trading, the dollar ended higher at Rs 155.25 and Rs 155.65 as its buying and selling rate against the overnight closing of Rs 155.10 and Rs 155.35, respectively.

However, the rupee showed strength on buying side and improved its worth against the pound sterling. On the contrary, it stayed under pressure on selling side against the British pound that was traded at Rs 198.00 and Rs 199.50 as compared to Friday closing of Rs 198.20 and Rs 198.90, respectively, the dealers added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 5 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Saturday.

The dollar opened at Rs 155.65 (buying) and Rs 155.75 (selling) against last rate of Rs 155.70 (buying) and Rs 155.80 (selling).

It closed at Rs 155.65 (buying) and Rs 155.75(selling). The buying and selling rates of one tola of gold were Rs. 86,750(selling) and Rs 86,500 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.