THE RUPEE: slight recovery

The rupee managed to recover modestly against the dollar on the currency market on Saturday in the process of trading, they said. The rupee gained 10-paisa in relation to the dollar for buying and selling at Rs 102.90 and Rs 103.10 respectively, however it lost 40-paisa in terms of the euro for buying and selling at Rs 115.40 and Rs 116.40 respectively, they said.
OPEN MARKET RATES: At the weekend, the euro rebounded against the dollar on Friday as Greece said it is getting closer to a deal on its debt, which could stave off default for the cash-strapped country. A Greek government official said the country is ready to submit counter-proposals and is closer than ever to a deal with its creditors. "The news gives hope that Greece can avert default and stay in the euro zone," said Joe Manimbo, senior market analyst at Commonwealth Foreign Exchange in Washington. "The euro seems to be at its best when there is good news on Greece."

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Open Bid       Rs 102.90

Open Offer     Rs 103.10

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Open Market Rates: Open Market Rates For Dollar on Saturday.

RUPEE IN LAHORE: The rupee remained weak and depreciated against the dollar on the local currency market on Saturday.
The rupee lost five paisas against the dollar for buying and selling at Rs 102.75 and Rs 103.00 compared with the day earlier closing of Rs 102.70 and Rs 102.95. The rupee too declined against the pound sterling which was traded at Rs 159.50 and Rs 159.75 on buying and selling counter against Rs 158.50 and Rs 158.75 of Friday.
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).
Copyright Business Recorder, 2015