THE RUPEE: falling trend

KARACHI: The rupee continued slide on the money market on Saturday in process of trading activity, dealers said. The rupee shed 10 paisas more in terms of the dollar for buying and selling at Rs 156.30 and Rs 156.80, they added.
OPEN MARKET RATES: The rupee lody 50 paisas versus the euro for buying and selling at Rs 171.50 and Rs 173.50, they added.
In the final US trade, the dollar inched lower on Friday, giving up gains fueled by a generally solid US jobs report that slightly underperformed expectations, as investors worried about political risk in the United States and ongoing trade talks with China.
The greenback hit session highs against the Japanese yen and euro following the jobs report, after trading lower for most of the session. But by afternoon trading, the dollar's rally faded.
The dollar was down roughly 1% against the yen this week, its worst weekly percentage loss in two months.
Data showed US non-farm payrolls increased by 136,000 jobs last month. August data was revised to show 168,000 jobs created instead of the previously reported 130,000. Economists polled by Reuters had forecast payrolls would increase by 145,000 jobs in September.

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Open Bid       Rs 156.30

Open Offer     Rs 156.80

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RUPEE IN LAHORE: The Pak rupee remained weak and depreciated against the major currencies including the US dollar and British pound in the open currency market on Saturday.
According to the currency dealers, the dollar resumed trading on healthy note and registered gain following fresh buying. At close of trading, the dollar ended at Rs 156.50 and Rs 157.00 as its buying and selling rate against the overnight closing of Rs 156.30 and Rs 156.70, respectively.
Similarly, the rupee stayed depressed and declined against the pound sterling. The pound's buying and selling rate improved from the day earlier closing of Rs 191.55 and Rs 192.80 to Rs 191.75 and Rs 193.50, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 40 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 157 (buying) and Rs 157.10 (selling) against last rate of Rs 156.60 (buying) and Rs 156.70 (selling).
It closed at Rs 157 (buying) and Rs 157.10(selling).
The buying and selling rates of one tola of gold were Rs. 87,750 (selling) and Rs 87,000 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.
Copyright Business Recorder, 2019