BR RESEARCH
KARACHI: The rupee managed to recover modestly against the dollar on the money market on Saturday in the process of trading activity, dealers said.
OPEN MARKET RATES: The rupee picked up 20 paisas versus the dollar for buying and selling at Rs 138.30 and Rs 138.80 respectively, they said. The rupee, however, depreciated in relation to the euro for buying and selling at Rs 155.30 at Rs 157.00 respectively, they said.
In the final US trade, the dollar fell against most major currencies on Friday as data showed US employers hired far fewer workers than forecast in February, although the jobless rate fell and wages grew more than expected.
The Swedish crown fell to a 16-year low, as Riksbank joined its central bank counterparts in Europe and Canada in adopting a cautious outlook.
The greenback reversed some of its biggest one-day gains in nearly seven months on Thursday as the European Central Bank and other overseas central banks hinted they might pump more stimulus, either by buying more assets or lowering interest rates to help their struggling economies.
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Open Bid Rs.138.30
Open Offer Rs.138.80
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RUPEE IN LAHORE: The Pak rupee showed stability and stayed unchanged on buying side while it gained 15-paisa on selling side in relation to the greenback in the local currency market on Saturday.
The dollar resumed trading at its day earlier closing of Rs 138.60 and Rs 139.30 on buying and selling side, respectively. The dollar did not observe any change in its buying rate and ended at the opening level. However, because of lacking buyers' interest, the dollar's selling rate declined to Rs 139.15.
The rupee remained strong and appreciated its worth against the pound sterling. The pound remained under selling pressure during the day's trading and finally ended lower at Rs 179.70 and Rs 181.20 as compared to its Friday closing of Rs 180.70 and Rs 182.00, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained five paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 138.60 (buying) and Rs 138.70 (selling) against last rate of Rs138.55 (buying) and Rs 138.65 (selling). It closed at Rs138.60 (buying) and Rs 138.70 (selling).
The buying and selling rates of one tola of gold was Rs. 69,200 (selling) and Rs 69,000 (buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.
