KARACHI: The rupee recovered slightly against the dollar on Saturday in the process of trading, dealers said. The rupee managed to gain 10 paisas versus the dollar for buying and selling at Rs 108.20 and Rs 108.40, they said. The rupee also picked 25 paisas in terms of the euro for buying and selling at Rs 113.50 and Rs 115.00, they said.
The dollar gained broadly against major currencies after the US non-farm payrolls report showed a slowing in hiring in December but an increase in wages, setting the economy up for further interest rate increases from the Federal Reserve this year. The dollar hit a session high against the yen of 116.74 yen, while the euro, after hitting a one-week high immediately after the report's release, fell to a session low of $1.0536.
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Open Bid Rs 108.20
Open Offer Rs 108.40
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The US dollar resumed trading on its overnight closing of Rs 108.00 and Rs 108.70 as its buying and selling rates, respectively. Lack of buyers' interest, it climbed up at Rs 108.25, on buying counter.
However, it did not witness change in its selling rate for another day as it sustained its overnight trend of Rs 108.70, on selling counter, said the local currency dealers.
Moreover, the local currency showed strength and recovered its day earlier losses versus the pound sterling.
The British currency was bought and sold at Rs 132.00 and Rs 133.00 against the Friday's closing rates of Rs 132.00 and Rs 134.40, respectively, they added.
The dollar opened at Rs 108 (buying) and Rs 108.50 (selling) against same last rate. It did not observe any change in the evening session and closed at same.
Pound Sterling opened at Rs 135 (buying) and Rs 135.10 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 135 (buying) and Rs 135.10 (selling).