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Firmness prevailed on the money market on Saturday as the rupee did not move any side against the dollar in the process of trading activity, dealers said.

OPEN MARKET RATES: The rupee managed to hold overnight levels in relation to the dollar for buying and selling at Rs 155.70 and Rs 156.20 respectively, while, it continued slide versus the euro for buying and selling at Rs 173.30 and Rs 175.30 respectively, they added.

In the final US trade, the dollar fell sharply against the euro on Friday as the common currency jumped on hopes that a Brexit deal between Britain and the European Union could improve the odds of the euro zone avoiding a recession for now.

In one of the most striking flourishes of the three-year Brexit drama, British Prime Minister Boris Johnson confounded his opponents on Thursday by clinching a new deal with the EU, even though the bloc had promised it would never reopen a treaty it agreed last year.

The euro has been rattled this year by dismal manufacturing data and by worries that deepening economic tensions between the United States and China could slow euro zone economies even further.

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Open Bid Rs.155.70

Open Offer Rs.156.20

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RUPEE IN LAHORE: The Pak rupee failed to maintain upward slide and marginally declined by five-paisas against the US dollar in the open currency market on Saturday.

According to the currency dealers, the dollar resumed trading on a healthy note and slightly improved following fresh buying. At close of trading, the dollar ended higher at Rs 155.85 and Rs 156.25 on buying and selling side against the overnight closing of Rs 155.80 and Rs 156.20, respectively.

However, the rupee remained under pressure and depreciated its worth against the pound sterling. The pound was traded at Rs 201.00 and Rs 203.50 on buying and selling counter as compared to Friday closing of Rs 199.00 and Rs 201.50, respectively, the dealers added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 5 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday.

The dollar opened at Rs 156.25 (buying) and Rs 156.35 (selling) against last rate of Rs 156.20 (buying) and Rs 156.30 (selling).

It closed at Rs 156.25 (buying) and Rs 156.35 (selling).

The buying and selling rates of one tola of gold were Rs. 87,100 (selling) and Rs 87,000 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.

Copyright Business Recorder, 2019