20000113ISLAMABAD

The dollar slightly recovered against the rupee in the open currency markets of Islamabad and Rawalpindi on Wednesday.

The market resumed trading with a stronger greenback at Rs 53.90 as compared to overnight value of Rs 53.85. The rupee did not observe significant change by the end of second session and dollar was sold at Rs 54.

Dealers said that market opened on a healthy note despite heavy rain in Islamabad.

The trade volume expanded in the second session and market closed on a stable note.

Traders remained busy in buying and selling ever-favourite greenback and other currencies throughout the day. There was no shortage of greenback in the market.

Pound sterling surged by 75 paisa in its value as it opened at Rs 88.75 as compared to last rate of Rs 88. British currency remained pegged to its morning levels and was sold at Rs 89 as compared to previous rate of Rs 88.30.

UAE dirham was bought and sold at Rs 14.68 and Rs 14.72 respectively, Saudi riyal started the day at Rs 14.34 and sellers were offering 4 paisa more at Rs 14.38.

German mark opened at Rs 28.40 and was sold at Rs 28.70.

Japanese yen resumed trading at Re 0.508 and was sold at Re 0.51.

Rawalpindi currency market opened on a better note following participation of major players and genuine buyers in trading. The sentiment remained positive throughout the day and market finally closed in plus territory, dealers said.

Dollar was bought and sold at the same rate, However, pound was traded between Rs 88.80 and Rs 89.10 in the city market.