Firmness prevailed on the money market on Saturday as the rupee managed to recover modestly versus the dollar in the process of trading, dealers said.
OPEN MARKET RATES: The rupee recovered 10-paisa in terms of the dollar for buying and selling at Rs 102.90 and Rs 103.10 respectively. It also gained 50 paisa versus the euro for buying and selling at Rs 113.50 and Rs 114.50, respectively, they said.
At the week-end, Australian dollar fell sharply to hit a 6-year low against its US counterpart, hurt by disappointing retail sales data in Australia, weak data from the services sector in China and a continued sell-off in the Shanghai stock market.
Open Bid Rs 102.90
Open Offer Rs 103.10
Open Market Rates: Open Market Rates For Dollar on Saturday.
RUPEE IN LAHORE: The Pak rupee failed to maintain its value and lost 10-paisa in relation to the greenback for buying and selling at Rs 102.80 and Rs 103.05 against the overnight closing of Rs 102.70 and Rs 102.95, respectively.
Similarly, the rupee remained weak and declined against the pound sterling that was traded at Rs 159.75 and Rs 160.00 on buying and selling counter compared with the Friday closing of Rs 159.65 and Rs 159.90, respectively, the currency dealers said.
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 101.75 (buying) and Rs 101.85 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 101.75 (buying) and Rs 101.85 (selling).
Pound Sterling opened at Rs 155 (buying) and Rs 155.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 155 (buying) and Rs 155.50 (selling).