THE RUPEE: weak trend

An easier trend was witnessed on the currency market on Thursday in the process of trading activity, dealers said.

INTER-BANK MARKET RATES: The rupee showed slight changes in terms of the dollar for buying and selling at Rs 155.88 and Rs 155.90 respectively, dealers said.

In the fourth Asian trade, the British pound stabilised on Thursday as the Brexit project entered a fresh holding pattern, while the dollar held firm as traders took a breather from Sino-US trade headlines.

Currency markets are also sticking to tight ranges ahead of key central bank meetings this week and next with the euro zone, Japan and United States due to review policy.

Sterling held at $1.2911 after Britain's parliament backed a withdrawal deal, but rejected the government's tight timetable, while European Union members delayed deciding whether to grant a three-month extension to the Oct. 31 leaving date.

European Council President Donald Tusk said he recommended the leaders of the EU's 27 other member states back a delay, with senior EU diplomats saying a three-month delay is most likely.

The dollar was trading against the Indian rupee at Rs 70.913, the greenback was at 4.183 in terms of the Malaysian ringgit and the US currency was available at 7.067 versus the Chinese yuan.

OPEN MARKET RATES: The rupee gave up overnight firmness, dropping 30 paisas in relation to the dollar for buying at Rs 155.80 and it shed 10 paisas for selling and Rs 156.10, they added. The rupee slipped by 10 paisas versus the euro for buying and selling at Rs 172.80 and Rs 174.80 respectively, they added.

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Open Bid       Rs.155.80
Open Offer     Rs.156.10
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.

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Bid Rate       Rs.155.88
Offer Rate     Rs.155.90
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RUPEE IN LAHORE: The Pak rupee witnessed divergent trend in process of trading against the American dollar in the local currency market on Thursday.

Following fluctuating demand and supply situation in the market, the dollar moved both ways by 10 paisas and ended for buying and selling at Rs 155.80 and Rs 156.00 against the opening rate of Rs 155.70 and Rs 156.10 respectively, local currency dealers said.

Furthermore, the national currency failed to hold its earlier recoveries in relation to the pound sterling. Consequently, the pound's buying and selling rates rose from the Wednesday's closing of Rs 199.45 and Rs 200.40 to Rs 199.90 and Rs 200.80 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 5paisa against the dollar at the open currency markets of Islamabad and Rawalpindi here on Thursday.

The dollar opened at Rs 156.05(buying) and Rs 156.10(selling) against last rate of Rs 156.10(buying) and Rs 156.15(selling).

It closed at Rs 156.05(buying) and Rs 156.10(selling).

The buying and selling rates of one tola of gold were Rs. 87,100 (selling) and Rs 87,000 (buying) in the local Sarafa (gold) markets of Islamabad and Rawalpindi.