So, the rupee lost 80 paisa against the euro for buying and selling at Rs 77.75 and Rs 78.05 respectively on its rising demand in the overseas markets, money experts said.
In the inter-bank market, the rupee did not show any sharp fluctuation versus the dollar for buying and selling at 59.37 and 59.39 respectively, they said.
The rupee was also firm versus the greenback for buying and selling at 59.60 and 59.65 respectively, as upward trend in the remittances and the firmness in the country's foreign exchange reserves were the dominating factors behind the rupee's steadier trend last week.
Forex Association of Pakistan (FAP) President Malik Bostan commenting on the present trend in the market, said the rupee may stagger in terms of the euro which strengthened its value in the international markets. In the meantime, the rupee is holding its firmness in relation to the dollar in the near future, he viewed.
Some monetary viewers said that the domestic currency did not move sharply against the dollar due to balanced demand and supply for the US currency.
In fact, the general public is not taking interest in the dollar buying owing to slight fluctuation nowadays, they observed.
There were no rush for dollars buying as the single European currency is taking place among the general public due to its strength in the world markets, they observed.
In the world markets, the dollar has failed to come out of the weak spells on continued concern about the US trade deficit.
INTER-BANK MARKET: On Monday, the rupee fluctuated between the range of 59.37 and 59.39 per dollar, they said.
On Tuesday, the range-bound trading was witnessed as the rupee did not show any major fluctuation against the dollar during the day for buying and selling at 59.39 and 59.40, dealers said.
The rupee had managed to sustain its levels versus the greenback on easy supply of the US currency, they added. If the dollars' supply match with the demand, the rupee might be able to hold its prevailing levels in the coming days, they guessed.
The dollar recovered slightly against the other currencies in the world markets, they said.
On Wednesday, firm trend seen as the rupee maintained its overnight levels, dealers said.
Exporters' dollar selling enabled the rupee to match with demand, dealers said, adding that importers were in the market to buy it to meet the corporate sector demands for oil payments.
On Thursday, the rupee traded at 59.37 and 59.39 versus the dollar for buying and selling, respectively.
On Friday, it inched up with one paisa gain in terms of the dollar for buying and selling at 59.36 and 59.38, dealers said.
OPEN MARKET RATES: On February 14, the rupee traded within a band of 59.50 and 59.60 for a dollar, dealers said, adding the euro showed modest change at Rs 76.85 and Rs 77.15.
On February 15, the rupee after maintaining its firmness versus the dollar managed to recover five paisa for buying and selling at 59.45 and 59.55, dealers said.
The rupee, however, extended its losses versus the euro, losing 20 paisa more for buying and selling at Rs 77.05 and Rs 77.35, they said.
On February 16, it did not show any change versus the dollar for buying and selling at 59.45 and 59.55, dealers said.
Market sources said the rupee managed to hold its present levels in process of balanced demand and supply position.
The rupee maintained its slide versus the euro, falling 35 paisa for buying and selling at Rs 77.40 and Rs 77.70 in process of trading, they added.
On February 17, the rupee lost five paisa versus the dollar for buying and selling at 59.50 and 59.55, respectively. On February 18, it shed 10 paisa in a single day slide versus the greenback as the demand for the dollar increased slightly for buying and selling at 59.60 and 59.65, respectively.
The rising demand for dollars pushed the rupee value down versus the US currency ahead of the long week-end, dealers said.
The rupee lost 25 paisa versus the euro for buying and selling at Rs 77.75 and Rs 78.05, dealers said. The single European currency posted fresh gains in the overseas market, this factor, in fact, is providing an opportunity to the euro to gain more strength versus the rupee, they added.