The rupee on Wednesday resisted further decline in its overnight levels versus the dollar in the interbank market for buying and selling at Rs 58.20 and Rs 58.22, dealers said.
Since the new fiscal started, the rupee eroded nearly 10 paisa value versus the dollar in the interbank market as the corporate demand increased for debt payments, currency experts said.
However, concerns over the US corporate earnings pushed the dollar value down in the international markets, dealers said.
The euro, however, maintained its climb, and according to foreign dealers, the present trend may continue for the near terms.
KERB MARKET RATES: The rupee did not show any weakness by holding its prevailing levels in relation to the dollar for buying and selling at Rs 58.50 and Rs 58.55 respectively.
Getting a boost from the overseas market, the single European currency managed to keep its upper hand versus the greenback, inching up five paisa gain at Rs 71.70 and Rs 72.00 respectively.
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Kerb Buying Rs 58.50
Kerb Selling Rs 58.55
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Wednesday.
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Buying Rs 58.20
Selling Rs 58.22
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Repo Rates (Yield p a)
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Tenor Low Bid High Bid Low Offer High Offer Average
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Overnight 0.05 0.20 0.20 0.30 0.19
1-Week 0.20 0.40 0.60 0.80 0.50
2-Week 0.75 1.00 1.25 1.50 1.13
1-Month 1.25 1.50 1.75 2.00 1.63
2-Months 1.25 1.50 1.75 2.00 1.63
3-Months 1.90 2.10 2.30 2.50 2.20
4-Months 2.00 2.20 2.40 2.80 2.30
5-Months 2.20 2.40 2.60 2.70 2.50
6-Months 2.25 2.40 2.60 2.80 2.51
9-Months 2.75 3.00 3.25 3.50 3.13
1-Year 3.00 3.25 3.50 3.75 3.38
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Call Rates (Yield p a)
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Tenor Low Bid High Bid Low Offer High Offer Average
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Overnight 0.10 0.30 0.40 0.50 0.33
1-Week 0.40 0.60 0.60 0.80 0.60
2-Week 1.00 1.25 1.50 1.75 1.38
1-Month 1.50 1.75 2.00 2.25 1.88
2-Month 1.50 1.75 2.00 2.25 1.88
3-Month 2.10 2.30 2.50 2.70 2.40
4-Month 2.20 2.40 2.60 2.80 2.50
5-Month 2.40 2.60 2.80 3.00 2.70
6-Month 2.40 2.60 2.80 3.00 2.70
9-Month 3.00 3.25 3.50 3.75 3.38
1-Year 3.25 3.50 3.75 4.00 3.63
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RUPEE IN LAHORE: The rupee showed stability as dollar-rupee parity remained unchanged for the third consecutive day, amid sluggish trading trend in the local currency markets on Wednesday.
According to the currency dealers, the dollar resumed trading at Tuesday's closing level of Rs 58.55 and Rs 58.65 as its buying and selling rates, respectively.
The dollar has stuck up at the present rates since last Saturday, which shows lack of interest on the part of investors.
There was no visible change in dollar's value, as the opening rates continued to prevail throughout the day. The investors are shifting their interest from greenback to pound sterling and other currencies, the dealers added.
However, the rupee maintained its downward slide and further slipped in relation to the pound sterling. The pound's buying rate improved from Tuesday's closing rate of Rs 106.60 to Rs 107.30, while selling rate increased from Rs 107.00 to Rs 107.30, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 58.40 (buying) and Rs 58.50 (selling) against same previous rate. It did not observe any further change in the evening session and closed at Rs 58.40 (buying) and Rs 58.50 (selling).
Pound sterling opened at Rs 106.60 (buying) and Rs 106.80 (selling) against same previous rate. It did not witness any further change in the second session and closed at Rs 106.60 (buying) and Rs 106.80 (selling).
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