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Firmness prevailed on the money market on Saturday as the rupee depicted no major variations versus the dollar on the money market, dealers said. The rupee held the present levels in terms of the dollar for buying and selling at Rs 105.90 and Rs 106.10 respectively, however it rose by 25 paisas in terms of the euro for buying and selling at Rs 118.00 and 119.50 respectively, they said.

OPEN MARKET RATES: At the week-end, the dollar rose after upbeat US gross domestic product data, while sterling suffered its worst fall since mid-January after a poll showed a narrowing lead for the ruling Conservatives before elections next month.

The dollar index, which tracks the greenback against six major rivals, was up 0.18 percent to 97.423, after rising to a one-week high of 97.548, earlier in the session. The US economy slowed less than initially thought in the first quarter. Gross domestic product increased at a 1.2 percent annual rate instead of the 0.7 percent pace reported last month, the Commerce Department said on Friday.

The greenback weakened earlier this week after minutes of the Federal Reserve's most recent meeting showed policymakers agreed they should hold off on raising interest rates until it was clear a recent US economic slowdown was temporary. The dollar was down 0.55 percent against the yen to 111.2 yen after paring earlier losses and the euro slipped to a 1-week low of $1.1161 against the greenback.





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Open Bid Rs 105.90

Open Offer Rs 106.10

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Open market Rates: Interbank Closing Rates For Dollar on Saturday.



RUPEE IN LAHORE: The Pak rupee appreciated versus the major currencies including the US dollar and British pound in the local currency market on Monday.

The dollar commenced trading on a negative note amidst lack of buyers' interest in the market. Consequently, it further slid to Rs 105.80 and Rs 106.10 on buying and selling sides, respectively, as compared to Saturday's closing rates of Rs 105.95 and Rs 106.25 respectively, currency dealers said.

Likewise, the local currency remained strong for the second consecutive day against the pound sterling.

The pound's buying and selling rates further drifted from last closing trend of Rs 135.70 and Rs 136.50 to Rs 134.70 and Rs 135.70 respectively they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee was unchanged against the dollar at the open currency markets of Islamabad and Rawalpindi here on Saturday.

The dollar opened at Rs 105.90 (buying) and Rs 106 (selling) against last rate of Rs 106.05 (buying) and Rs 106.15. It closed at Rs 105.90 (buying) and Rs 106 (selling).

Pound Sterling opened at Rs 135 (buying) and Rs 135.50 (selling). It closed at the same rate.

Copyright Business Recorder, 2017


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