RECORDER REPORT
KARACHI: Firmness prevailed on the local currency market on Saturday as the rupee managed to hold the overnight levels versus the dollar in the process of trading, dealers said.
OPEN MARKET RATES: The rupee was inert in terms of the dollar for buying and selling at Rs 101.00 and Rs 101.20 respectively. It lost 25-paisa in relation to the euro for buying and selling at Rs 119.50 and Rs 119.75 respectively, they said.
At the week-end, investors with sizeable gains from the dollar's strong move upward in recent weeks sold the greenback to capture profits despite a solid US jobs report that bolstered the case for the Federal Reserve to raise US interest rates later this year.
"It looks like some trimming of positions heading into the weekend, but the strong dollar is still intact," said Camilla Sutton, chief currency strategist at Scotiabank in Toronto.
The combination of a strengthening US economy and the Fed positioning itself to raise interest rates at mid-year contrasted against deflationary pressures in the major economies such as the euro zone and Japan, Sutton said.
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Open Bid Rs 101.00
Open Offer Rs 101.20
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Open Market Rates: Open Market Rates For Dollar on Saturday.
RUPEE IN LAHORE: The Pak rupee-dollar parity remained unchanged amid sluggish trading on the local currency market on Saturday.
According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 100.90 and Rs 101.15 as its buying and selling rate, respectively. The dollar did not observe any change in its demand and supply situation that helped rupee stability, the dealers said.
Similarly, the rupee stayed unchanged amid low trading activity against the pound sterling. The pound was purchased and sold at its Friday closing of Rs 150.75 and Rs 151.00, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 101.30 (buying) and Rs 101.40 (selling) against same overnight rate. It did not observe further change in the second session and closed at Rs 101.30 (buying) and Rs 101.40 (selling).
Pound Sterling opened at Rs 158 (buying) and Rs 159 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 158 (buying) and Rs 159 (selling).
Kerb buying and selling rate of US dollar
RECORDER REPORT
KARACHI: Dollar buying and selling rate in the kerb market in rupees on Saturday (January 10, 2015).
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Open Bid Rs 101.00
Open Offer Rs 101.20
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