THE RUPEE: mixed trend on currency market

The rupee on Saturday sharply lost 50 paisa against dollar in the inter-bank market at Rs 60.50 for buying and Rs 60.60 for selling as demand for the greenback persisted, dealers said. According to market sources, importers' and corporate sector demand pushed down the rupee versus dollar.
The State Bank of Pakistan (SBP) was keeping a close watch over the fluctuations in the currency regime, they said.
In the world markets, no respite was seen in dollar's weakness versus major currencies, dealers said. The dollar is under pressure on persistent concerns over the US economy and comments throughout the week from the European Central Bank (ECB) and the Federal Reserve officials.
OPEN MARKET RATES: The rupee posted a gain of 10 paisa versus dollar in open market at Rs 60.70 and Rs 60.80 for buying and selling, respectively.
The rupee, however, lost 35 paisa against euro at Rs 76.25 and Rs 76.55 for buying and selling, they added.

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Kerb buying             Rs 60.70

Kerb selling            Rs 60.80

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Buying                Rs 60.50

Selling               Rs 60.60

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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   1.00       2.50       1.50        3.00           2.00

1-Week      1.25       1.50       2.00        2.25           1.75

2-Week      2.00       2.25       2.75        3.00           2.50

1-Month     2.50       2.75       3.25        3.50           3.00

2-Months    2.75       3.00       3.50        3.75           3.25

3-Months    3.00       3.25       3.50        3.75           3.38

4-Months    3.25       3.50       3.75        4.00           3.63

5-Months    3.50       3.75       4.00        4.25           3.88

6-Months    3.50       3.75       4.50        4.75           4.13

9-Months    3.75       4.00       4.50        4.75           4.25

1-Year      4.25       4.50       4.75        5.00           4.63

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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   1.25       2.75       1.75        3.00           2.19

1-Week      1.50       1.75       2.25        2.50           2.00

2-Week      2.25       2.50       2.75        3.00           2.63

1-Month     2.75       3.00       3.50        3.75           3.25

2-Month     3.00       3.25       3.75        4.00           3.50

3-Month     3.25       3.50       3.75        4.25           3.69

4-Month     3.40       3.70       3.90        4.25           3.81

5-Month     3.60       3.90       4.25        4.50           4.06

6-Month     4.00       4.25       4.50        5.00           4.44

9-Month     4.00       4.25       4.75        5.00           4.50

1-Year      4.25       4.50       5.25        5.50           4.88

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LAHORE: The rupee closed the week on a positive note, as it improved its worth by five paisa on buying side at Rs 60.75 and 15-paisa on selling side at Rs 60.85 in relation to the greenback in the local currency markets.
According to the currency dealers, the rupee showed recovery following the selling pressure on the greenback.
The dollar resumed trading at overnight closing level of Rs 60.80 and Rs 61.00 on buying and selling counters, respectively. However, it could not sustain and started declining soon after resumption of trading. At the close, the dollar moved down to Rs 60.75 and Rs 60.85 on buying and selling sides, respectively against Rs 60.80 and Rs 61.00 of Friday, the dealers said.
Similarly, the rupee remained strong and recovered some of its earlier loss against the pound sterling. The pound's buying rate declined from Friday's closing of Rs 110.45 to Rs 109.80, while selling rate moved down from Rs 110.95 to Rs 110.30, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged in the open currency markets of Islamabad and Rawalpindi on Saturday.
The dollar opened at Rs 60.60 (buying) and Rs 60.70 (selling) against same overnight value. It did not observe any further change in the second session, and closed at Rs 60.60 (buying) and Rs 60.70 (selling).
Pound sterling opened at Rs 109.35 (buying) and Rs 109.45 (selling) against the last rate of Rs 110 (buying) and Rs 110.10 (selling). It did not show any further change in the evening session, and closed at Rs 109.35 (buying) and Rs 109.45 (selling).
Euro opened at Rs 75.85 (buying) and Rs 75.95 (selling) against the last rate of Rs 76 (buying) and Rs 76.10 (selling). It did not observe any change in the evening session, and closed at Rs 75.85 (buying) and Rs 75.95 (selling).
Canadian dollar opened at Rs 48.30 (buying) and Rs 48.40 (selling) against the same last rate. It did not observe any further change in the evening session, and closed at Rs 48.30 (buying) and Rs 48.40 (selling).