OPEN MARKET RATES: At the week-end, the US dollar was on track to notch a fourth straight year of gains against a basket of major currencies, despite briefly tumbling against the euro during the Asian trading session on thin liquidity.
The dollar index, which measures the greenback against a basket of six major rivals, was on track to gain 3.5 percent for the year, even as the euro briefly climbed nearly two full cents in overnight trading to $1.0651, its highest since December 14.
The index has gained 4.3 percent since the November 8 US presidential election on expectations that US President-elect Donald Trump's plan to boost fiscal stimulus would benefit the currency. The Federal Reserve's projections on December 14 of three rate hikes for 2017 instead of the two foreseen in September have also contributed.
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Open Bid Rs 108.10
Open Offer Rs 108.30
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RUPEE IN LAHORE: The Pakistani rupee fell against the major currencies including the American dollar in the local currency market here on Saturday.
According to currency dealers, the US dollar commenced trading on a positive and kept on rising amidst lack of buyers' interest in the market. At the close, it ended higher at Rs 108.30 and Rs 108.50 on buying and selling counters, respectively, as compared to the overnight closing rates of Rs 108.20 and Rs 108.40, respectively, they added.
Versus the pound sterling, the local currency also followed the same suit. The pound's buying and selling rates went up from the Friday's closing rates of Rs 131.30 and Rs 132.30 to Rs 132.00 and Rs 132.85, respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar showed an improvement of Rs 1 against rupee at currency exchange shops of Islamabad and Rawalpindi here on Saturday.
The dollar resumed trading at Rs 108 (buying) and Rs 108.50 (selling) against last rate of Rs 107 (buying) and Rs 107.50 (selling). It did not observe further change in evening session and closed at Rs 108 (buying) and Rs 108.50 (selling).
Pound Sterling opened at Rs 135 (buying) and Rs 135.10 (selling) against same last week's rate. It did not observe further change in the second session and closed at Rs 135 (buying) and Rs 135.10 (selling).