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Coronavirus
VERY HIGH
Pakistan Deaths
16,842
14424hr
Pakistan Cases
784,108
587024hr
Sindh
275,815
Punjab
282,469
Balochistan
21,365
Islamabad
72,150
KPK
110,875

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

OPEN MARKET RATES: The rupee held the overnight levels in relation to the dollar for buying and selling at Rs 154.60 and Rs 154.90 respectively, they said. The rupee picked up 20 paisas in terms of the euro for buying and selling at Rs 170.00 and Rs 171.50 respectively, they said.

In the final US trade, the dollar rose to a near eight-week high against the euro on Friday as lukewarm European PMI data added to the broader market conviction that European central bank policymakers will maintain a loose monetary policy for the near future.

Euro zone business activity remained lacklustre with the IHS Markit's Euro Zone Composite Flash Purchasing Managers' Index (PMI), seen as a good gauge of economic health, holding at 50.9 in January but missing the median prediction in a Reuters' poll for 51.2.

That followed an earlier PMI from Germany, Europe's largest economy, which showed the private sector gained momentum. The euro was 0.21% lower against the greenback at $1.1029.

========================

Open Bid Rs.154.60

Open Offer Rs.154.90

========================

RUPEE IN LAHORE: The Pak rupee remained depressed and lost 15-paisa on buying side and 5-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 a healthy note and registered gain following buyers' interest. At close of trading, the dollar ended higher at Rs 154.50 and Rs 154.75 as its buying and selling rate against the overnight closing of Rs 154.35 and Rs 154.70, respectively.

However, the rupee showed stability and remained unchanged on buying side while it was improved on selling side against the pound sterling. The pound was traded at Rs 201.40 and Rs 202.40 on buying and selling counter against the day earlier closing of Rs 201.40 and Rs 202.40, respectively, the dealers said.

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 155.35 (buying) and Rs 155.45 (selling) against last rate of Rs 155.30 (buying) and Rs 155.40(selling).

It closed at Rs 155.35 (buying) and Rs 155.45 (selling).

The buying and selling rates of one tola of gold were Rs 90,300 (selling) and Rs 90,000 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.

Copyright Business Recorder, 2020