RECORDER REPORT
KARACHI: The rupee did not move any side against the dollar on the local money market on Saturday in the process of trading, dealers said.
OPEN MARKET RATES: The rupee was unmoved in terms of the dollar for buying and selling at Rs 124.00 and Rs 124.50 respectively, they said. While, the rupee gained 30 paisas against the euro for buying and selling at Rs 142.00 and Rs 144.00 respectively, they said.
In the final NY trade, the euro climbed on Friday as traders were encouraged by improved regional economic growth data and new assurances by Italian politicians that their nation would not leave the single currency.
The euro registered a weekly gain of nearly 0.5 percent against the dollar, reversing the prior week's 1.35 percent drop tied to the European Central Bank's hint it would hold interest rates through the summer of 2019.
The euro's advance, together with a rebound in commodity-linked and emerging market currencies, pressured the dollar which ended lower on the week.
The single currency was also bolstered after Greece clinched debt relief and received a cash infusion from the euro zone.
The euro rose 0.5 percent to $1.1662, and increased 0.6 percent to 128.17 yen. Despite this week's gains, the euro is still vulnerable to regional political instability and US tariffs. US President Donald Trump on Friday called for a 20 percent levy on European Union-assembled car imports.
An index that tracks the dollar versus a basket of currencies including the euro was down 0.24 percent at 94.517, retreating from an 11-month peak of 95.529 on Thursday.
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Open Bid Rs.124.00
Open Offer Rs.124.50
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RUPEE IN LAHORE: The Pak rupee showed strength as it recovered its earlier losses versus the greenback in the local currency market on Saturday.
According to currency dealers, the greenback commenced trading on a depressing note and kept on declining following lack of buyers' interest in the market. As a result, it ended lower for buying and selling at Rs 124.00 and Rs 124.50 as compared to the overnight closing trend of Rs 124.45 and Rs 125.00 respectively, they added.
Furthermore, the rupee-pound parity stayed unchanged amidst sluggish trend in the market. The British currency remained unchanged as it was bought and sold at Rs 151.50 and Rs 162.50 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 124 (buying) and Rs 124.20 (selling) against same last rate. It closed at Rs 124 (buying) and Rs 124.20 (selling).
