RECORDER REPORT
KARACHI: Steadier trend was seen on the money market on Thursday as the rupee showed no change against the dollar in process of trading activity, dealers said.
OPEN MARKET RATES: The rupee held the overnight levels against the dollar for buying and selling at Rs 118.50 and Rs 119.00, they said. The rupee gained versus the euro for buying and selling at Rs 138.00 and Rs 139.50, they said.
In the final US trade, better-than-expected US employment data on Friday kept the dollar afloat, even as the European Union, Canada and Mexico are expected to retaliate to the import tariffs on steel and aluminum announced by President Donald Trump.
Against a basket of six currencies, the dollar rose half a percent to a session high of 94.45. The move, however, was relatively muted compared to the blockbuster jobs numbers.
The euro edged higher on Friday, breaking a six-week losing streak, supported by a drop in Italian bond yields after a revived coalition deal between two anti-establishment parties pulled the country back from snap elections.
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Open Bid Rs.118.50
Open Offer Rs.119.00
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RUPEE IN LAHORE: The Pak rupee stayed unchanged on buying side while it recovered on selling side in relation to the greenback in the local currency market on Saturday.
The greenback resumed trading on its overnight closing of Rs 119.00 and Rs 119.50 as its buying and selling rates, respectively. At the close, no change in its value took place for buying whereas it depreciated by 30 paisas for selling at Rs 119.20, local currency dealers said.
Moreover, the national currency witnessed divergent trend in terms of trading against the pound sterling which was ended for buying and selling at Rs 157.55 and Rs 159.00 as compared to the overnight closing trend of Rs 157.65 and Rs 158.45 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 20 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 119 (buying) and Rs 119.10 (selling) against last rate of Rs118.80 (buying) and Rs 118.90 (selling). It closed at Rs 119 (buying) and Rs 119.10 (selling).
