RECORDER REPORT
KARACHI: The rupee held present firmness against the dollar on the money market on Saturday in the process of trading, dealers said.
OPEN MARKET RATES: The rupee did not move any side in relation to the dollar for buying and selling at Rs 105.90 and Rs 106.10, they said.
The rupee gave up overnight gains, losing 20 paisas in terms of the euro for buying and selling at Rs 118.00 and Rs 119.00, and they said.
At the week-end, the dollar fell broadly after weaker-than-forecast data on housing and consumer sentiment cast a risk-off sentiment over US assets.
The greenback gave back most of the previous day's gains, easing toward levels from earlier this week that were the lowest since November.
Disappointing economic readings and the lack of progress on fiscal stimulus from Washington have overshadowed the likelihood of more rate hikes from the Federal Reserve.
The government said US home construction fell in May for a third straight month, to its lowest in eight months. The University of Michigan said its gauge on consumer sentiment deteriorated in early June.
"It raises some doubt on US growth for the rest of the year," said Minh Trang, senior currency trader at Silicon Valley Bank in Santa Clara, California.
The dollar index was down 0.3 percent at 97.126, and on track for a 0.14 percent decline on the week.
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Open Bid Rs 105.90
Open Offer Rs 106.10
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Open market Rates: Open market Rates For Dollar on Saturday.
RUPEE IN LAHORE: The rupee-dollar parity stayed unchanged amid sluggish trend in the local currency market on Saturday.
According to the currency dealers, the demand and supply situation of the US dollar remained intact that kept the local currency stabilized throughout the trading session. At the close, no change in its value took place on buying and selling side as it maintained its opening trend of Rs 105.90 and Rs 106.25 respectively, they added.
Moreover, the local currency stayed unchanged on buying side while it recovered by 10-paisa on selling side against the pound sterling.
The British currency was bought and sold at Rs 134.70 and Rs 135.70 against Rs 134.70 and Rs 135.80 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 105.95 (buying) and Rs 106.10 (selling). It closed at the same rate. Buying and selling rates of British Pound remained Rs 136.50 (buying) and Rs 138.50 (selling).
