THE RUPEE: little gains

The rupee improved with marginal gains against the dollar on the money market on Saturday, dealers said. The rupee picked up five-paisa in relation to the dollar for buying and selling at Rs 104.45 and Rs 104.65 respectively, while the rupee did not show any variations in terms of the euro for buying and selling at Rs 116.00 and Rs 117.00 respectively, they said.
OPEN MARKET RATES: At the weekend, the dollar eased as data showing US unemployment in August at its lowest since 2008 did little to clear away currency markets' uncertainty over whether the Federal Reserve will raise interest rates later this month.
In a report many analysts had seen as key for Fed policymakers, the government said non-farm payrolls increased 173,000 last month as the manufacturing sector lost the most jobs since July 2013. That marked a slowdown from July's upwardly revised gain of 245,000 and was the smallest rise in employment in five months. However, it might have been weighed down by a statistical fluke that has led to sharp upward revisions to August payroll figures.

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Open Bid       Rs 104.45

Open Offer     Rs 104.65

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Open Market Rates: Open Market Rates For Dollar on Saturday.

RUPEE IN LAHORE: The Pak rupee remained firm in relation to the greenback and British Pound at the open currency markets of Lahore on Saturday.
According to currency dealers, the dollar resumed trading at overnight closing rates of Rs 104.70 and Rs 104.95 on buying and selling counters, respectively. Due to lacklustre condition at the local kerb, the greenback lost its worth by 05-paisa and it was closed at Rs 104.65 and Rs 104.90 on buying and selling counters, respectively.
Likewise, the local currency appreciated its worth against the British Pound, which was purchased and sold at Rs 158.15 and Rs 159.10 as against Rs 158.80 and Rs 159.40 on Friday, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 104 (buying) and Rs 104.25 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 104 (buying) and Rs 104.25 (selling).
Pound Sterling opened at Rs 161 (buying) and Rs 161.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 161 (buying) and Rs 161.50 (selling).
Copyright Business Recorder, 2015