THE RUPEE: falling trend

The rupee slid against the dollar on the money market on Saturday as the national currency continued decline in the process of trading, dealers said. The rupee lost 10 paisas in relation to the dollar for buying and selling at Rs 105.20 and Rs 105.40 respectively, they said.
OPEN MARKET RATES: The rupee also dropped by 25 paisas in terms of the euro for buying at Rs 117.00 and selling at Rs 118.50. At the week-end, the dollar index whipsawed through the day but ended up little moved on Friday from its late Thursday levels as investors kept positions tight ahead of Monday's US presidential debate.
The index, which measures the dollar against six major world currencies, had its largest weekly drop in a month due in large part to a reduction of long-term interest rate expectations announced by the Federal Reserve at the conclusion of its policy meeting on Wednesday. The dollar index was flat at 95.472 on the day. It fell by 0.7 percent for the week, its worst weekly performance since the week of August 18.

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Open Bid       Rs 105.20

Open Offer     Rs 105.40

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RUPEE IN LAHORE: The rupee-dollar parity remained unchanged against the US dollar in the local currency market on Saturday.
The dollar resumed trading on its day earlier closing of Rs 105.20 and Rs 105.50 as its buying and selling rates, respectively.
The dollar did not witness any change in its demand and supply situation that helped the local currency to remain stable. As a result, its opening rate continued to prevail till close of trading, the local currency dealers said.
On the other hand, the rupee continued to maintain upward trend against the pound sterling. The pound's buying and selling rates declined from the Friday's closing of Rs 135.50 and Rs 136.60 to Rs 135.30 and Rs 136.30, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the dollar remained unchanged at local currency establishments of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 104.50 (buying) and Rs 105 (selling) against same last rate. It did not observe further change in evening session and closed at Rs 104.50 (buying) and Rs 105 (selling).
Pound Sterling opened at Rs 137.50 (buying) and Rs 138 (selling). It did not observe further change in the second session and closed at Rs 137.50 (buying) and Rs 138 (selling) by the end of second session.
Copyright Business Recorder, 2016