Firmness prevailed on the money market on Saturday as the rupee sustained overnight levels in terms of the dollar, dealers said. The rupee stayed put in relation to the dollar for buying at Rs 109.80 and Rs 110.30 respectively, while it gained nearly one rupee against the euro for buying and selling Rs 127.50 and Rs 129.20 respectively, they added.
OPEN MARKET RATES: In the NY market, the US dollar rose on Friday as Republican negotiators in the US Congress put the finishing touches on a sweeping tax overhaul, raising expectations that the bill would be passed by year-end.
Representative Kevin Brady, chairman of the tax-writing House Ways and Means Committee, told reporters that Republicans on the House-Senate negotiating committee working on the revamped bill had signed the finished product and the details would be published when the full House convenes at 5:30 pm EST (2230 GMT).
It comes after two Republicans sought changes to the proposed legislation. The dollar index against a basket of six major currencies rose 0.49 percent to 93.944.
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Open Bid Rs 109.80
Open Offer Rs 110.30
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RUPEE IN LAHORE: The Pak rupee moved both ways in terms of the greenback in the local currency market on Saturday.
According to currency dealers, the greenback commenced trading on a divergent note and continued fluctuating both ways throughout the trading session.
Consequently, it ended at Rs 109.50 and Rs 110.20 for buying and selling, respectively, as compared to the overnight closing trend of Rs 109.30 and Rs 110.25 respectively, they added.
On the contrary, the local currency recovered by 20 paisas against the pound sterling for buying at Rs 143.80. However, no change in its value took place for selling at Rs 145.00, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 110.30 (buying) and Rs 110.50 (selling) against same last rate. It closed at the same rate versus the dollar.
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