The rupee rose slightly in terms of the dollar on Saturday in the process of trading activity, dealers said. The rupee picked up 10 paisas against the dollar for buying and selling at Rs 107.50 and Rs 107.70 respectively, they said.
OPEN MARKET RATES: The rupee gained 50 paisas in terms of the euro for buying and selling at Rs 124.30 and Rs 125.60 respectively, they said.
At the final New York trading session, the dollar rose broadly after the release of US factory orders and services sector data that beat estimates, reversing an earlier slide after an underwhelming October jobs report.
The euro turned negative against the dollar, falling to its lowest level since Monday after the US factory orders and ISM non-manufacturing PMI data, while the dollar turned positive against the Japanese yen, erasing earlier losses and nearing its highest since mid-July.
The Institute for Supply Management's non-manufacturing purchasing managers' index rose to its highest level since 2005. New orders for US-made goods rose for the second straight month in September and orders for core capital goods surpassed expectations.
The dollar index, which measures the greenback against six rival currencies, rose to its highest since Oct 27, closing in on a nearly four-month peak.
The dollar index posted its third straight weekly increase, following its largest weekly percentage gain of the year last week. October was the dollar's best monthly performance since February.
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Open Bid Rs 107.50
Open Offer Rs 107.70
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RUPEE IN LAHORE: The Pak rupee registered appreciation in relation to the foreign currencies including the US dollar and British pound in the local currency market on Saturday.
According to currency dealers, the trading activity of the US dollar resumed on negative note following lack of buyers' interest in the currency market. Consequently, it slid to Rs 107.35 and Rs 107.80 for buying and selling, respectively, as compared to the overnight closing trend of Rs 107.50 and Rs 107.85 respectively, they added.
Moreover, the national currency maintained upward trend for the third consecutive day against the pound sterling.
The pound's buying and selling rates further decreased from Friday's closing of Rs 140.00 and Rs 141.00 to Rs 139.85 and Rs 140.80 respectively, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained strength against the rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 107.35 (buying) and Rs 107.45 (selling) against last rate of Rs 106.70 (buying) and Rs 107 (selling). It closed at 107.35 (buying) and Rs 107.45 (selling).
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