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Firmer trend was seen on the local currency market on Saturday as the rupee managed to hold present levels against the dollar in the process of trading activity, dealers said.

OPEN MARKET RATES: The rupee did not move any side in relation to the dollar for buying and selling at Rs 155.20 and selling at Rs 155.50 respectively, they said. The rupee slipped by 20 paisas in relation to the euro for buying and selling at Rs 170.80 and Rs 172.30 respectively, they said.

In the final US trade, the dollar was lower on Friday as some optimism for the ongoing trade talks with China buoyed trade-linked currencies like the euro and the British pound.

US-China negotiations continued on Friday as both sides sought to hammer out a "phase one" trade pact. US Commerce Secretary Wilbur Ross said progress was being made on the agreement's details, which helped lift trade-exposed currencies at the expense of safe-haven assets such as the Japanese yen.

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Open Bid Rs.155.20

Open Offer Rs.155.50

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RUPEE IN LAHORE: The Pak rupee stayed weak and lost 10-paisa on buying side while it remained unchanged 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 a healthy note and registered marginal gain. At close of trading, the dollar ended at Rs 155.20 and Rs 155.60 as its buying and selling rate against the overnight closing of Rs 155.10 and Rs 155.60, respectively.

The rupee also showed stability and remained unchanged on buying side while remained under pressure on selling side against the pound sterling. The pound was traded at Rs 199.10 and Rs 200.40 on buying and selling counter as compared to Friday closing of Rs 199.10 and Rs 200.40, respectively, the dealers added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 10 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday.

The dollar opened at Rs 155.60 (buying) and Rs 155.70 (selling) against last rate of Rs 155.50 (buying) and Rs 155.60 (selling).

It closed at Rs 155.60 (buying) and Rs 155.70 (selling).

The buying and selling rates of one tola of gold were Rs. 86,750 (selling) and Rs 86,500 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.

Copyright Business Recorder, 2019