THE RUPEE: dollar at Rs 128

The rupee failed to keep firmness against the dollar after touching Rs 128 mark on the money market on Saturday in the process of trading activity, dealers said.
OPEN MARKET RATES: The rupee shed 50 paisas in relation to the dollar for buying at Rs 127.30 and it also lost 60 paisas for selling at Rs 127.80, they said. The national currency dropped by 85 paisas in terms of the euro for buying and selling at Rs 146.25 and Rs 148.25 respectively, they said.
In the final US trade, the US dollar weakened on Friday after data for September showed jobs gains that fell short of expectations while wages increases slowed on an annualized basis during the month, easing concerns about a large run-up in inflation.
Non-farm payrolls increased by 134,000 jobs last month, the fewest in a year, though data for July and August was revised to show 87,000 more jobs added than previously reported.
Average hourly earnings increased eight cents, or 0.3 percent, in September after rising 0.3 percent in the prior month. With September's increase below the 0.5 percent gain notched during the same period last year that lowered the annual increase in wages to 2.8 percent from 2.9 percent in August, which was the biggest rise in more than nine years.

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Open Bid       Rs.127.30

Open Offer     Rs.127.80

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RUPEE IN LAHORE: The Pak rupee registered reduction versus the major foreign currencies including the greenback and the British pound in the local currency market on Saturday.
According to currency dealers, the short supply phenomenon of the greenback prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 127.80 and Rs 128.00 against the overnight closing trend of Rs 127.00 and Rs 127.50, respectively.
Likewise, the local currency also followed the same suit in relation to the pound sterling. The pound's buying and selling rates further rose from Friday's closing of Rs 164.60 and Rs 166.00 to Rs 166.00 and Rs 167.20 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 50 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 127.25(buying) and Rs 127.35(selling) against last rate of Rs 126.75(buying) and Rs 126.85(selling). It closed at Rs 127.25(buying) and Rs 127.35(selling).
Copyright Business Recorder, 2018