RECORDER REPORT
KARACHI: Balanced demand and supply of dollar did not allow the rupee to move any side against the dollar on Saturday in process of trading, dealers said.
OPEN MARKET RATES: The rupee stayed put in terms of the dollar for buying and selling at Rs 124.00 and Rs 124.50, they said. The rupee was also unmoved versus the euro for buying and selling at Rs 144.50 and Rs 146.50, they said.
In the final NY trade, the dollar hit three-week lows on Friday after data showed the US economy created more jobs than expected in June, but a closely watched inflation gauge - wage growth - rose less than forecast and the unemployment rate increased.
As a result, expectations dimmed somewhat that the Federal Reserve would raise interest rates a fourth time this year. The greenback had weakened earlier on Friday as the United States and China imposed tariffs on each other's imports, but the fall was muted as investors waited for the jobs report.
US non-farm payrolls advanced by 213,000 jobs in June, the Labour Department said. Data for April and May was revised to show 37,000 more jobs created than previously reported.
The unemployment rate, however, rose to 4.0 percent from an 18-year low of 3.8 percent in May, while average hourly earnings rose 5 cents, or 0.2 percent, in June after increasing 0.3 percent in May.
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Open Bid Rs.124.00
Open Offer Rs.124.50
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RUPEE IN LAHORE: The rupee-dollar parity stayed unchanged amid sluggish trend in the local currency market on Saturday.
According to currency dealers, the US dollar resumed trading on its overnight closing of Rs 124.00 and Rs 124.50 as its buying and selling rates, respectively. The dollar did not witness and change in its demand and supply situation and firmly held its opening trend till close of trading, they added.
Moreover, the local currency showed strength and recovered its earlier losses versus the pound sterling. The pound's buying and selling rates slid from Friday's closing of Rs 163.00 and Rs 164.00 to Rs 162.30 and Rs 163.50 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee stayed put against the dollar at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 124.80 (buying) and Rs 124.90 (selling) against the rupee and it closed at the same levels in process of trading.
