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ISLAMABAD

The dollar remained pegged at overnight levels in the open currency markets of Islamabad-Rawalpindi on Saturday.

The market resumed trading with a better greenback at Rs 53.90 as compared to Friday's. The value of rupee remained stable by the end of the second session, and the dollar was sold at Rs 54.

Money changers said that the market started on a lacklustre note and the sentiment slightly improved in the evening and finally it closed on a moderate note.

They stated that the demand of the dollar decreased with contraction in the overall turnover.

Pound sterling shed 40 paisa as it opened at Rs 88.30 as compared to last price of Rs 88.70. British currency moved between Rs 88.30 and Rs 88.40 and sellers were offering 30 paisa more at Rs 88.60 as compared to Friday's price of Rs 89.

Japanese yen opened at Re 0.505 and was sold at Re 0.51. It moved in a tight band with thin volume.

UAE dirham was traded between Rs 14.69 and Rs 14.73 with active participation of buyers and sellers. Saudi riyal was bought and sold at Rs 14.36 and Rs 14.39, respectively.

German mark further lost value against the local currency as it opened at Rs 27.90 as compared to previous price of Rs 28.30. The demand of German currency decreased during the day and was sold at Rs 28.20. The change in the value of mark was due to its fluctuation in the international market.

Rawalpindi money market opened on a comparatively better note with active participation of margin hunters and genuine buyers The sentiment remained positive throughout the day and market finally close higher, dealers said.

No change was witnessed in the buying and selling rates of American and British currencies as compared to Friday.