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The rupee recovered modestly against the dollar on the money market on Saturday in process of trading, dealers said. The rupee managed to recover 10 paisas versus the dollar for buying and selling at Rs 106.70 and Rs 106.90, they said.

OPEN MARKET RATES: The rupee, however, shed 50 paisas in terms of the euro for buying and selling at Rs 125.50 and Rs 126.50, they said.

At the week-end, the dollar fell against a basket of currencies, after data showed US consumer prices rose less than expected in July, pointing to benign inflation that could make the Federal Reserve cautious about raising interest rates again this year.

The dollar index, which tracks the greenback against six major currencies, was down 0.37 percent at 93.052, after earlier falling to a one-week low of 92.934.

The dollar fell to a 16-week low against the Japanese yen, but pared some losses after Russian Foreign Minster Sergei Lavrov said there was a Russian-Chinese plan to defuse tensions between the United States and North Korea.





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Open Bid Rs 106.70

Open Offer Rs 106.90

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RUPEE IN LAHORE: The rupee-dollar parity remained unchanged for the third consecutive day amidst sluggish trend in the local currency market on Saturday.

The demand and supply situation of the US remained intact throughout the trading session that kept the national currency stabilize. As a result, no change in its value took place on buying and selling side as it sustained its opening trend of Rs 106.60 and Rs 106.85 respectively, local currency dealers said.

On the contrary, the local currency depreciated on buying side while it stayed unchanged on selling side against the pound sterling. The pound was bought and sold at Rs 137.60 and Rs 138.50 against Friday's closing rates of Rs 137.50 and Rs 138.50 respectively, they added.

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

The dollar opened at Rs 107.10 (buying) and Rs 107.20 (selling) against same last rate. It closed at Rs 107.10 (buying) and Rs 107.20 (selling) in evening session.

Copyright Business Recorder, 2017


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