THE RUPEE: slight fall

Marginal decline was seen in the value of the rupee against the dollar on the local currency market on Saturday in the process of trading activity, dealers said. The rupee slid by 10 paisas in relation to the dollar for buying and selling at Rs 133.90 and Rs 134.20 respectively, they said. The domestic currency, dropped sharply in terms of the euro for buying and selling at Rs 152.00 and Rs 154.00, they said.
OPEN MARKET RATES: In the final US trade, the dollar fell broadly on Friday in the wake of cautious comments from two US Federal Reserve officials about global economic growth, while sterling rose following losses tied to fears about a Brexit deal.
The greenback fell to one-week lows versus the euro and a two-week trough against the yen following comments from Fed Vice Chair Richard Clarida, who told CNBC television he saw some evidence of global growth cooling.
Clarida also noted key US short-term borrowing rates are close to neutral and said being at neutral "makes sense."
Traders perceived his comments to mean the No 2 Fed official may be open for the Fed to pause its rate-hike campaign sooner than previously thought.

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Open Bid       Rs.133.90

Open Offer     Rs.134.20

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RUPEE IN LAHORE: The Pak rupee depreciated on buying side while it stayed unchanged on selling side in relation to the greenback in the local currency market on Saturday.
According to currency dealers, the greenback resumed trading on a negative note and further depreciated by 15 paisas for buying at Rs 133.75 whereas it firmly held its opening trend for selling at Rs 134.40.
In addition, the local currency did not witness any change against the pound sterling for buying at Rs 170.50 whereas it gained 80 paisas for selling at Rs 172.30 against the overnight closing rate of Rs 171.50, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 5 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 133.75 (buying) and Rs 133.85 (selling) against last rate of Rs 133.70 (buying) and Rs 133.80 (selling). It closed at Rs 133.75 (buying) and Rs 133.85 (selling).
The buying and selling rates of one tola of gold were Rs 61,400 (selling) and Rs 61,300 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.
Copyright Business Recorder, 2018