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ISLAMABAD

The rupee remained stable against the US dollar in the open currency markets of twin cities on Wednesday.

The markets started the day with a firm greenback at Rs 53.90. It did not show any significant change during the day and was sold at Rs 54.

Money changers stated that market resumed trading on a dull note following contraction in trade volume in the morning session. The sentiment slightly improved in the second session and closed on a moderate note.

They said that balanced demand and supply factor resulted in a comparatively better rupee in the local kerb. The rupee will definitely gain further strength in present economic situation of the country.

Most of the star currencies except dollar showed lesser activity due to the absence of major buyers and margin hunters for a while, they added.

Pound sterling soared by 10 paisa against the rupee as it opened at Rs 88.30 as compared to overnight value of Rs 88.20. It moved between Rs 88.30 and Rs 88.40 and was sold at Rs 88.70. The demand of pound considerably decreased by the end of the day.

Japanese currency remained lower in the kerb as it opened at Re 0.50 and was sold at Re 0.51.

German mark resumed trading at Rs 27.95 and was sold at Rs 28.20.

UAE dirham was bought and sold at Rs 14.71 and Rs 14.74 respectively, Saudi riyal opened at Rs 14.38 and sellers were offering 3 paisa more at Rs 14.42.