THE RUPEE: euro up Rs 1.20, $ loses 0.10 in open market.

(From Business Recorder)

Byline: RECORDER REPORT

Mixed trend was seen in the currency market on Friday, dealers said.

The euro gained Rs1.20 versus the rupee for buying and selling at Rs 74.50 and Rs 74.80 after sharp decline of the dollar in the world markets, they added. The rupee recovered 10 paisa against the dollar in the open market for buying and selling at 59.95 and 60.05 on easy supply of dollar, they said.

The rupee also lost its value sharply versus the pound sterling at Rs 109.25 and Rs 109.40, dealers said. According to the market sources, soft US economic data and rising concern about the economic fallout from the recent hurricane, particularly on the US oil refineries in coastal Louisiana, Mississippi and Alabama pushed the dollar lower …