Firmness prevailed on the money market on Saturday as the rupee managed to hold overnight levels in relation to the dollar, they said. The rupee stayed put against the dollar for buying and selling at Rs 102.65 and Rs 102.90, the said. The national currency extended gains for the second day versus the the euro, gaining Re.one for buying and selling at Rs 114.00 and Rs 115.00, respectively, they added.
OPEN MARKET RATES: At the weekend, the US dollar rallied to a 13-year peak against the yen and rose sharply against the euro after data showing US job growth accelerated in May, bolstering the case for a Federal Reserve interest rate hike as early as September. Nonfarm payrolls increased 280,000 last month, the largest gain since December, the Labor Department said. Economists polled by Reuters had forecast payrolls rising 225,000.
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Open Bid Rs.102.65
Open Offer Rs.102.90
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RUPEE IN LAHORE: The Pak rupee drifted lower against the dollar in the local market on Saturday, dealers said. The rupee lost five paisas versus the dollar for buying and selling to Rs 102.95 and Rs 103.15 against Rs 102.90 and Rs 103.10 of Friday, respectively, but did keep going up for the second consecutive day and improved against the pound sterling whose buying and selling rate declined from the overnight closing of Rs 156.65 and Rs 157.20 to Rs 156.10 and Rs 156.70.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 101.75 (buying) and Rs 101.85 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 101.75 (buying) and Rs 101.85 (selling).
Pound Sterling opened at Rs 155 (buying) and Rs 155.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 155 (buying) and Rs 155.50 (selling).
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