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ISLAMABAD

The US dollar further gained strength against the rupee in the currency exchange establishments of twin cities on Thursday.

The market started the day with a better greenback at Rs 54.30 as compared to Wednesday's rate of Rs 54.25. The dollar sold at Rs 54.35 as compared to last rate of Rs 54.32.

Money changers were of the view that Islamabad market resumed trading on a stable note due to the participation of genuine buyers and sellers in the first session. The overall volume further expanded in the evening session and market finally closed on a healthy note.

They said that the American currency showed an increase of five paisa against the rupee due to its shortage in the local kerb.

The pound sterling was bought and sold at Rs 87.60 and Rs 87.80 respectively.

The UAE dirham resumed trading at Rs 14.81 and was sold at Rs 14.84. The Saudi riyal opened at Rs 14.48 and was sold at Rs 14.52. Both these currencies maintained their previous levels with moderate turnover.

The German mark opened (buying) at Rs 27.55 and was sold at Rs 27.85.

The Japanese currency remained higher in the kerb as it started the day at Re 0.497 and was sold at Re 0.499.

Rawalpindi market opened on a dull note as star currencies like dollar, pound, dirham and riyal moved in a tight band. The sentiment of the market remained negative throughout the day with thin volume, city dealers said.