OPEN MARKET RATES: In the final US trade, the dollar slipped on Friday after the US non-farm payrolls report for January showed very little wage inflation, affirming the Federal Reserve's patient stance on further interest rate increases.
The greenback did shoot higher after the release of strong job gains, but quickly got back to its levels before the data, with analysts citing the average hourly earnings figure, which rose just 0.1 percent, compared with expectations for a 0.3 percent. Beyond the headline jobs gains, the dollar has become more sensitive to wage inflation over the last year.
The report showed the US economy created 304,000 new jobs, the highest in 11 months, superseding forecasts for 165,000 jobs. The unemployment rate, however, rose to a seven-month peak of four percent.
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Open Bid Rs.138.00
Open Offer Rs.138.50
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RUPEE IN LAHORE: The Pak rupee registered appreciation in its worth versus the major foreign currencies including the greenback and the British pound in the local currency market on Saturday.
Following lack of buyers' interest in the market, the greenback its worth and ended lower for buying and selling at Rs 137.10 and Rs 138.45 against the overnight closing trend of Rs 138.10 and Rs 138.80 respectively, local currency dealers said.
Likewise, the local currency also followed the same suit in relation to the pound sterling. The pound's buying and selling rates slid from Friday's closing of Rs 179.50 and Rs 180.70 to Rs 179.10 and Rs 180.50 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 5 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 138.25(buying) and Rs 138.35 (selling) against last rate of Rs 138.20 (buying) and Rs 138.30 (selling). It closed at Rs 138.25 (buying) and Rs 138.35(selling).
The buying and selling rates of one tola of gold was Rs Rs. 67,300 (selling) and Rs 67,000(buying) in the local Sarafa (gold) markets of Rawalpindi and Islamabad.