The rupee fell modestly against the dollar on the money market in the process of trading, dealers said on Saturday. The rupee shed five-paisa against the dollar for buying and selling at Rs 102.85 and Rs 103.05 respectively, they said. The national currency gained 60-paisa versus the euro for buying and selling at Rs 113.50 and Rs 114.50 respectively, they said. At the week-end, the euro advanced broadly, jumping more than 2 percent against the yen, on optimism Greece would be able to forge a debt deal with its creditors, enabling the troubled nation to stay in the euro zone.
OPEN MARKET RATES: The yen and the Swiss franc, which tend to do well during turmoil in financial markets, both fell as demand for riskier assets also picked up after Chinese shares rebounded.
BID Rs 102.85
Offer Rs 103.05
Open Market Rates: Open Market Rates For Dollar on Saturday.
RUPEE IN LAHORE: The local currency went on under pressure and depreciated against the major currencies, such as the dollar and the British pound sterling, on Saturday.
The rupee lost five-paisa versus the dollar for buying and selling at Rs 102.65 and Rs 102.90 against the overnight closing of Rs 102.60 and Rs 102.85 and also weakened and declined from the Friday closing of Rs 156.75 and Rs 157.00 to Rs 158.00 and Rs 158.25 on buying and selling side.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained strength against the rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 102 (buying) and Rs 102.20 (selling) against Rs 101.75 (buying) and Rs 101.85 (selling) last rate. It did not observe further change in the second session and closed at Rs 102 (buying) and Rs 102.20 (selling).
Pound Sterling opened at Rs 157 (buying) and Rs 157.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 157 (buying) and Rs 157.50 (selling).