The rupee managed to hold its overnight levels firmness versus the dollar on the money market in process of trading, experts said. The rupee did not move any side against the dollar for buying and selling at Rs 111.90 and Rs 112.20 respectively, they said. The rupee picked up 10 paisas in relation to the euro for buying and selling at Rs 137.30 and Rs 138.80 respectively, they added.
OPEN MARKET RATES: In the NY last session trade, the dollar fell against most currencies on Friday, dropping to its lowest in more than two years against the yen, as President Donald Trump's proposal to impose hefty tariffs on steel and aluminum imports raised prospects of a trade war that could damage the US economy. Friday's sell-off came just as the dollar had risen to multi-week highs amid strong data and an upbeat view on the economy from Federal Reserve Chairman Jerome Powell, which reinforced expectations of three or more interest rate hikes this year.
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Open Bid Rs.111.90
Open Offer Rs.112.20
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RUPEE IN LAHORE: The Pak rupee recovered its day earlier losses versus the US dollar in the local currency market on Saturday. According to currency dealers, the dollar commenced trading on a negative note following lack of buyers' interest in the market. Resultantly, it slid to Rs 111.70 and Rs 112.05 for buying and selling, respectively, as compared to the overnight closing rates of Rs 111.90 and Rs 112.20 respectively, they added. Moreover, the national currency stayed firmed against the pound sterling for buying at Rs 153.30. However, it appreciated by 40 paisas for selling at Rs 154.50, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 30 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday. The dollar opened at Rs 112 (buying) and Rs 112.10 (selling) against last rate of Rs 111.70 (buying) and Rs 111.80 (selling). It closed at Rs 112 (buying) and Rs 112.10 (selling).
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