The rupee shrugged of overnight weakness against the dollar on the money market on Saturday in the process of trading, dealers said. The national currency managed to recover 20 paisas against the dollar for buying and selling at Rs 107.30 and Rs 107.80 respectively, they said.
OPEN MARKET RATES: The rupee, however, shed 15 paisas versus the euro for buying and selling at Rs 125.75 and Rs 127.00 respectively, they said.
In the NY final trade, the dollar rose against the euro and yen in choppy trading after a report showed the US economy created more jobs than expected last month, but gains were capped by wages data that analysts said were disappointing.
That could weigh on the pace of interest rate rises next year as the Federal Reserve grapples with sluggish wages that reflect persistently low inflation, analysts said.
The dollar came off three-week highs after the report, while the euro, although still down on the day, recouped some of those losses.
US non-farm payrolls rose by 228,000 jobs in November amid broad gains in hiring as distortions from recent hurricanes faded. The dollar index was up 0.1 percent at 93.899.
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Open Bid Rs 107.30
Open Offer Rs 107.80
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RUPEE IN LAHORE: The Pakistani rupee maintained declining trend for another day in terms of the US dollar in the local currency market on Saturday.
According to currency dealers, the short supply phenomenon of the US dollar continued to prevail in the currency market which helped its further appreciation at Rs 107.60 and Rs 108.20 for buying and selling, respectively, as compared to the overnight closing rates of Rs 107.50 and Rs 107.85 respectively.
On the contrary, the local currency recovered its day earlier losses versus the pound sterling. The pound's buying and selling rates slid from Friday's closing trend of Rs 143.50 and Rs 144.50 to Rs 142.80 and Rs 143.70 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the dollar remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 108.40 (buying) and Rs 108.50 (selling) against last rate. It closed at Rs 108.40 (buying) and Rs 108.50 (selling).
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