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ISLAMABAD

The US dollar gained three paisa against the rupee in the money markets of Islamabad and Rawalpindi on Saturday.

The market started the day with a comparatively stronger greenback at Rs 54.30 as compared to overnight value of Rs 54.27. The dollar was sold at Rs 54.35 as compared to the previous rate of Rs 54.32.

The Islamabad money changers were of the view that the market resumed trading on a better note due to participation of genuine buyers and sellers in the morning session. The market remained in the positive column throughout the day and finally closed on a healthy note.

They said speculative forces and margin hunters appeared to be back in game for a while. The trade volume of other currencies like pound, dirham and riyal also considerably increased by the end of the day.

The pound resumed trading at Rs 87 (buying) and was sold at Rs 87.50 in both morning and evening sessions.

UAE dirham was bought and sold at Rs 14.82 and Rs 14.84 respectively, Saudi riyal resumed trading at Rs 14.48 and sellers offered four paisa more at Rs 14.52. Both these currencies remained active throughout the day with expansion in the trade volume.

Japanese yen maintained its overnight value at Re 0.48 (buying) and was sold at Re 0.49.

German mark was bought and sold at Rs 27.25 and Rs 27.50 respectively.

Rawalpindi market showed positive signs throughout the day with considerable buying in greenback and other currencies, city dealers said.

The buying and selling rates of dollar and pound remained unchanged, they added.