Stable trend was witnessed on the currency market on Saturday as the rupee managed to hold overnight levels against the dollar on the money market in the process of trading activity, dealers said.
OPEN MARKET RATES: The rupee did not show any change in relation to the dollar for buying and selling at Rs 155.80 and Rs 156.30 respectively, they added.
While, the rupee gained 80 paisas versus the euro for buying and selling at Rs 171.00 and Rs 173.00 respectively, they added.
In the final US trade, the dollar dropped to a three-month low on Friday as safe-haven buying eased and risk sentiment improved on hopes of progress in trade negotiations between the United States and China, as well as increased chances of an orderly British exit from the European Union.
Sterling rose to a more than three-month high versus the dollar on optimism about Brexit, while the euro advanced to a three-week peak as risk appetite rose.
At the same time, other safe-haven currencies such as the yen and Swiss franc slid on the day.
President Donald Trump and other US officials on Friday signalled good news was coming in trade talks with China, while Beijing indicated it was open to a "partial" deal that would avoid a planned hike in tariffs on its goods.
======================== Open Bid Rs.155.80 Open Offer Rs.156.30 ========================
RUPEE IN LAHORE: The Pak rupee staged recovery and improved its worth by 25-paisa on buying side and 20-paisa on selling side in relation to the greenback in the local currency market on Saturday.
According to the currency dealers, the dollar resumed trading on negative note and could not sustain due to lacking buyers' interest. At close of trading, the dollar ended lower at Rs 156.00 and Rs 156.40 as its buying and selling rate against the overnight closing of Rs 156.25 and Rs 156.60, respectively.
On the contrary, the rupee failed to maintain upward slid and depreciated against the British pound. The pound's buying and selling rate improved from the Friday closing of Rs 194.70 and Rs 195.90 to Rs 195.70 and Rs 197.10, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 10 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 156.70 (buying) and Rs 156.80 (selling) against last rate of Rs 156.80 (buying) and Rs 156.90 (selling).
It closed at Rs 156.70 (buying) and Rs 156.80 (selling).
The buying and selling rates of one tola of gold were Rs. 87,200 (selling) and Rs 87,000 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.
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