Rising demand for dollars pushed the rupee down in the inter-bank market on Saturday, losing five paisa on the buying and selling counters at Rs 59.70 and Rs 59.75 for a dollar, dealers said. The dollar surged in the market as importers' demand increased for high payments, they added. In the coming days, the rupee might decline further, they said.
In world markets, the dollar plunged to four-and-a-half years low against yen.
OPEN MARKET RATES: The rupee shed 10 paisa versus dollar at Rs 59.10 and Rs 59.20 in modest activity, dealers said.
The single European currency gained 40 paisa in terms of rupee at Rs 77.30 and Rs 77.60 on rising demand in world markets, they observed
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Kerb buying Rs 60.10
Kerb selling Rs 60.20
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Saturday.
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Buying Rs 59.70
Selling Rs 59.75
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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 5.00 7.00 6.00 7.40 6.35
1-Week 4.50 4.75 5.00 5.50 4.94
2-Week 4.25 4.50 4.50 5.00 4.56
1-Month 3.75 4.00 4.25 4.50 4.13
2-Months 4.00 4.25 4.50 4.75 4.38
3-Months 3.60 3.75 4.00 4.20 3.89
4-Months 3.75 4.00 4.25 4.50 4.13
5-Months 4.00 4.25 4.50 4.75 4.38
6-Months 4.25 4.50 4.75 5.00 4.63
9-Months 3.80 4.50 4.75 5.00 4.51
1-Year 4.25 4.50 4.75 5.25 4.69
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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 5.50 7.45 6.50 7.50 6.74
1-Week 5.00 5.50 6.00 6.50 5.75
2-Week 4.50 5.00 5.50 6.00 5.25
1-Month 4.50 4.75 5.25 5.75 5.06
2-Month 4.25 4.50 5.00 5.25 4.75
3-Month 4.00 4.25 4.50 4.75 4.38
4-Month 4.20 4.40 4.60 4.80 4.50
5-Month 4.50 4.75 5.00 5.25 4.88
6-Month 4.50 5.00 5.20 5.50 5.05
9-Month 5.00 5.25 5.50 5.75 5.38
1-Year 5.25 5.50 6.00 6.50 5.81
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RUPEE IN LAHORE: The rupee showed stability, as dollar-rupee parity remained unchanged amid sluggish trading trend in the local currency markets on Saturday.
According to the currency dealers, the dollar resumed trading at overnight closing levels of Rs 60.10 and Rs 60.25 on buying and selling counters, respectively. There was no change in the dollar's demand and supply situation, which helped the local currency maintain its worth. During the day there was no visible change in dollar's rate and it was closed at the opening levels, the dealers added.
On the contrary, the Pak rupee failed to maintain upward trend and registered loss against the pound sterling. The pound's buying rate improved from Friday's closing rate of Rs 110.20 to Rs 110.60 while selling rate touched the level of Rs 111.00, 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 Saturday.
The dollar opened at Rs 60.10 (buying) and Rs 60.20 (selling) against same last rate. It did not observe any further change in the evening session and closed at Rs 60.10 (buying) and Rs 60.20 (selling).
Pound sterling opened at Rs 110 (buying) and Rs 110.20 (selling) against same last rate. It did not observe any further change in the evening session and closed at Rs 110 (buying) and Rs 110.20 (selling).
Euro opened at Rs 77 (buying) and Rs 77.20 (selling) in the first trading session. It did not observe any further change in the evening session and closed at Rs 77 (buying) and Rs 77.20 (selling).
Canadian dollar opened at Rs 48.90 (buying) and Rs 49 (selling) in the morning session. It did not witness any further change by the end of second spell and closed at Rs 48.90 (buying) and Rs 49 (selling).
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