OPEN MARKET RATES: Whereas, the rupee picked up 50 paisas in terms of the euro for buying and selling at Rs 171.80 and Rs 173.50 respectively, they added.
In the final US trade, the euro gained against the dollar on Friday for the second day after the European Central Bank on Thursday exempted euro zone banks from a penalty charge, which analysts say will reduce the currency impact of new stimulus.
The ECB on Thursday cut its deposit rate to a record low -0.5% from -0.4% and said it will restart bond purchases of 20 billion euros a month from November. The purchases will run for as long as necessary and end shortly before it starts raising the key ECB interest rates.
It also said that euro zone banks will be exempted from paying a penalty charge on idle cash worth six times their mandatory reserves.
The single currency initially dropped on the new stimulus, testing more than two-year lows, before dramatically changing direction.
By exempting banks from the penalty charge the ECB aims to minimize stress in financial institutions that have been harmed by years of low rates.
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Open Bid Rs.155.80
Open Offer Rs.156.30
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RUPEE IN LAHORE: The Pak rupee showed stability on buying side while it gained 15-paisa on selling side in relation to the greenback in the local currency market on Saturday.
According to the moneychangers, the dollar resumed trading at its overnight closing of Rs 155.70 and Rs 156.40 as its buying and selling rate, respectively. The dollar did not observe any change in its supply situation that helped rupee stability on buying counter. However, the dollar could not sustain due to lacking buyers' interest and ended further lower at Rs 156.25 on selling counter, they said.
On the contrary, the rupee maintained downward slide for another day and registered decline against the pound sterling. The pound's buying and selling rate further improved from the day earlier closing of Rs 193.00 and Rs 194.50 to Rs 193.80 and Rs 195.00, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 156.60 (buying) and Rs 156.70 (selling) against same last rate.
It closed at Rs 156.60 (buying) and Rs 156.70 (selling). The buying and selling rates of one tola of gold were Rs. 87,700 (selling) and Rs 87,200(buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.