An easier trend persisted on the money market on Saturday as the rupee failed to halt its slide against the dollar in the process of trading, marketmen said. The rupee dropped 30 paisas versus the dollar for buying at Rs 159.00 and it also shed 20 paisas for selling Rs 159.50, dealers said.
In the final US trade, the dollar weakened for a third straight session on Friday, still pressured by expectations the Federal Reserve will start cutting interest rates at a monetary policy meeting later this month.
Against a basket of other currencies, the dollar fell 0.1 percent to 97.004, posting its worst daily loss against the yen and Swiss franc in more than three weeks.
The dollar briefly trimmed losses after US data showed producer prices rose slightly in June, up 0.1 percent following a similar gain in May. In the 12 months through June, the PPI rose 1.7 percent, the smallest gain since January 2017.
Joe Manimbo, senior market analyst, at Western Union Business Solutions in New York said the PPI increase should not shake US rate cut expectations.
Until the Fed's preferred gauge of inflation, the core personal consumption expenditures price (PCE) index, shows convincing signs of heating up from a low 1.6 percent, the Fed is unlikely to change its stance on cutting rates this month, he added.

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Open Bid       Rs.159.00
Open Offer     Rs.159.50
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