RECORDER REPORT
KARACHI: The rupee showed stable trend against the dollar on the money on Saturday in the process of trading activity, dealers said.
OPEN MARKET RATES: The rupee depicted no change against the dollar for buying and selling at Rs 118.00 and Rs 118.50 respectively, they said. The rupee gained 50 paisas in terms of the euro for buying and selling at Rs 137.75 and Rs 139.25 respectively, they said.
In the final New York trade, the dollar rose on Friday after a four-day losing streak, while the safe-haven yen gained as investors grew cautious over what was expected to be a contentious G7 meeting in Canada on Friday.
Despite Friday's gains, the dollar posted its largest weekly drop since late March.
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Open Bid Rs.118.00
Open Offer Rs.118.50
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RUPEE IN LAHORE: The Pak rupee registered appreciation versus the major foreign currencies including the American dollar and British pound in the local currency market on Saturday.
According to currency dealers, the US dollar resumed trading on a negative note and remained under pressure throughout the trading session. Accordingly, the dollar ended for buying and selling at Rs 118.00 and Rs 118.70 as compared to the overnight closing trend of Rs 118.35 and Rs 118.80 respectively, they added.
Likewise, the national currency also followed the same suit in terms of trading against the pound sterling. Consequently, the pound's buying and selling rates slid from Friday's closing of Rs 157.40 and Rs 158.20 to Rs 156.70 and Rs 158.00 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee further gained 10 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs118.30 (buying) and Rs 118.40(selling) against last rate of Rs118.20 (buying) and Rs 118.30(selling). It closed at Rs118.30 (buying) and Rs 118.40(selling).
