KARACHI: Steadier trend was again seen on the money market on Saturday as the rupee managed to retain week-long levels versus the dollar, dealers said. The rupee was unchanged in relation to the dollar for buying and selling at Rs 107.70 and Rs 107.90, they said.
The report though was positive overall, analysts said, and should keep the Federal Reserve on track for multiple rate hikes this year. Data showed that January non-farm payrolls rose by 227,000 jobs, the largest gain in four months. But the unemployment rate rose one-tenth of a percentage point to 4.8 percent and wages increased modestly, suggesting that there was still some slack in the labour market that would keep dollar-negative inflation in check.
There was also a downward revision to the December wage growth, suggesting the Fed might not rush to hike rates again. In morning trading, the dollar index, which tracks the greenback versus six top currencies, was flat at 99.821. Against the yen, the dollar was down 0.1 percent at 112.74 yen.

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Open Bid      Rs 107.70
Open Offer    Rs 107.90
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