The rupee maintained overnight levels versus the dollar on the money market on Saturday in the process of trading, marketmen said. The rupee held the overnight levels in terms of the dollar for buying and selling at Rs 159.50 and Rs 161.00 respectively, they said. The rupee fell in relation to the euro for buying and selling at Rs 179.00 and Rs 182.00 respectively, they said.
OPEN MARKET RATES: In the final European trade, the euro stabilised on Friday but was on track for its biggest monthly gain in 17 months as traders questioned how much firepower the European Central bank could potentially roll out to support a struggling economy and boost inflation.
June data at 1000 GMT is expected to show monthly euro zone inflation of 1.2% -- well short of the ECB's target of just under 2%. Policymakers have promised more stimulus if needed but some investors are sceptical.
In comparison, policy interest rates in Europe are already in negative territory and Europe's most widely watched measure of inflation expectations -- the five-year, five-year forward rate -- has started declining again. Against the dollar, the single currency edged 0.1 percent higher at $1.1384. On a monthly basis, the single currency was set to weaken 1.6%, its biggest monthly rise.
The dollar index, which measures the US currency against six of its peers, was at 96.217, unchanged on the week.
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Open Bid Rs.159.50
Open Offer Rs.161.00
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RUPEE IN LAHORE: The Pak rupee stayed weak and remained under pressure against the greenback in the open currency market on Saturday.
According to the currency dealers, the dollar resumed trading on healthy note and registered gain amid fresh buying. At close of trading, the dollar ended higher at Rs 160.10 and Rs 161.50 on buying and selling rate against the overnight closing of Rs 158.00 and Rs 161.00, respectively.
However, the rupee lost its worth on buying side but registered gain on selling side in relation to the pound sterling. The pound was purchased and sold at Rs 200.00 and Rs 204.00 as compared the previous closing of Rs 196.50 and Rs 205.00, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 50 paisas against the dollar at the local currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 161.50(buying) and Rs 161.60(selling) against last rate of Rs 162(buying) and Rs 162.10 (selling). It closed at Rs 161.50(buying) and Rs 161.60(selling).
The buying and selling rates of one tola of gold was Rs 83,310 (selling) and Rs 83,000 (buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.
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