THE RUPEE: Slight Fall

The rupee drifted lower against the dollar on the money market on Saturday in the process of trading activity, dealers said.

OPEN MARKET RATES: The rupee depreciated by 10 paisas against the dollar for buying and selling at Rs 155.30 and Rs 155.60 respectively, they said. The rupee did not move any side in relation to the euro for buying and selling at Rs 171.00 and Rs 172.50 respectively, they said.

In the final Asian trade, the US dollar shook off early weakness to advance against a basket of currencies on Friday, after data showed US factory and services activity quickened in November in a sign of the continued resilience of the US economy.

IHS Markit said its "flash" purchasing managers index (PMI) for manufacturing rose to 52.2 in November from a final reading of 51.3 in October, while its preliminary services PMI increased to 51.6 this month from 50.6 last month.

The dollar index, which compares the dollar against six major currencies, was up 0.24% at 98.23. Helping the dollar's strength was a survey which showed euro zone business growth almost ground to a halt this month as activity in the bloc's dominant services industry increased at a much weaker pace than expected and among manufacturers it contracted again.

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Open Bid       Rs.155.30
Open Offer     Rs.155.60
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RUPEE IN LAHORE: The Pak rupee showed stability on buying side while it lost 15-paisa on selling side in relation to the greenback in the open currency market on Saturday.

According to the currency dealers, the dollar resumed trading at its day earlier closing of Rs 155.35 and Rs 155.60 as its buying and selling rate, respectively. The dollar did not observe any change in its buying rate that stayed unchanged whereas its selling rate improved to Rs 155.75.

Similarly, the rupee stayed unchanged on buying side while it was depreciated on selling side against the pound sterling that was purchased and sold at Rs 199.50 and Rs 201.50 as compared to previous closing of Rs 199.50 and Rs 201.50, respectively, the dealers said.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 25 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday.

The dollar opened at Rs 155.75 (buying) and Rs 155.85 (selling) against last rate of Rs 155.50 (buying) and Rs 155.60 (selling). It closed at Rs 155.75 (buying) and Rs 155.85 (selling).

The buying and selling rates of one tola of gold were Rs. 85,500 (selling) and Rs 85,200 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.