The rupee maintained a firm posture against the dollar on the money market on Saturday in the process of trading, dealers said. The rupee did not move any side in relation to the dollar for buying and selling at Rs 118.20 and Rs 118.70, they said. The rupee lost 75 paisas in terms of the euro for buying and selling at Rs 143.25 and Rs 144.75, they added.
OPEN MARKET RATES: In the final NY trade, the dollar held steady on Friday despite a government report showing slower US first-quarter economic growth, with the currency on track to end its strongest week since November 2016, having gained 1.4 percent.
On Tuesday, the US benchmark government bond yield broke through the psychologically significant 3 percent level for the first time in more than four years as investors reduced their US bond holdings on worries about rising inflation and growing government debt supply.
While Friday extended the week's gains, the dollar's move was muted by comparison, last up just 0.1 percent at 91.671 against a basket of six currencies, though still its highest since Jan. 12.
"The market's taking a bit of a breather after some significant moves over the better part of last week," said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange Inc, in Washington D.C.
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Open Bid Rs.118.20
Open Offer Rs.118.70
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RUPEE IN LAHORE: The Pak rupee depreciated on buying side whereas it stayed unchanged on selling side in relation to the greenback in the local currency market on Saturday.
According to currency dealers, the greenback commenced trading on its overnight closing of Rs 118.40 and Rs 118.70 as its buying and selling rates, respectively.
At the close, it showed strength and appreciated by 10 paisas for buying at Rs 118.50. However, it did not observe any change for selling which prevailed throughout the trading session, they added.
Moreover, the national currency moved both ways in process of trading against the British pound which was traded for buying and selling at Rs 162.80 and Rs 163.40 as compared to the overnight closing trend of Rs 162.50 and Rs 163.60 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 20 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 118.20 (buying) and Rs 118.40 (buying) against last rate of Rs 118 (buying) and Rs 118.20 (buying). It closed at Rs 118.20 (buying) and Rs 118.40 (buying).
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