The official rupee-dollar parity rates firmed in the interbank market for buying and selling at 59.67 and 59.68, respectively. Slight decline in the dollar demand by the importers helped the rupee to retain its firmness in the interbank market, dealers said.
In the world markets, the dollar tended lower against the euro and yen due to several factors, dealers said. Despite the Japan's weak current-account surplus June figures, the yen advanced versus the major currencies of the world on rising support for the Japanese government, renewed hopes for economic recovery and robust stocks, currency experts said.
In the meantime, the euro managed to gain versus the dollar. Commenting on the appreciation of the yen, currency analysts observed that robust performance followed a string of bright news from Japan.
In fact, the Japanese government and Bank of Japan (BoJ) both upgraded their assessments of the world's second-biggest economy. The emerging optimism about the macro-economy and the stock market now support interest in the yen-dominated assets, they said.
Chinese central bank said that yuan forwards and currency swaps have been cleared for trading on the interbank market, report said, adding this was the first time in the history when non-financial institutions will also be allowed to trade in the market.
OPEN MARKET RATES: The rupee most of the time fluctuated in the narrow range, depicting 10 paisa more gain versus the dollar for buying and selling at 60.00 and 60.10 on falling demand for the US currency, they said.
Versus the euro, the rupee recovered 10 paisa for buying and selling at 73.75 and Rs 73.95, they added.
================================
Kerb Buying Rs 60.00
Kerb Selling Rs 60.10
================================
INTERBANK CLOSING RATES: Interbank closing rates for dollar on Thursday.
==============================
Buying Rs 59.67
Selling Rs 59.68
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 1.00 7.25 2.00 7.75 4.50
1-Week 5.00 7.00 6.00 7.50 6.38
2-Week 6.75 7.25 7.25 7.50 7.19
1-Month 7.40 7.75 7.60 8.00 7.69
2-Months 7.70 7.90 7.90 8.15 7.91
3-Months 7.75 8.00 7.90 8.20 7.96
4-Months 7.85 8.10 8.00 8.25 8.05
5-Months 7.90 8.15 8.10 8.30 8.11
6-Months 8.05 8.25 8.25 8.50 8.26
9-Months 8.20 8.40 8.50 8.65 8.44
1-Year 8.40 8.60 8.70 8.80 8.63
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 1.00 8.25 1.50 8.50 4.81
1-Week 5.50 7.50 6.50 8.00 6.88
2-Week 7.25 7.75 7.75 8.00 7.69
1-Month 7.75 8.25 8.25 8.75 8.25
2-Months 8.00 8.75 8.40 8.90 8.51
3-Months 8.30 9.25 8.60 9.50 8.91
4-Months 8.30 8.60 8.60 9.25 8.69
5-Months 8.50 9.00 8.75 9.50 8.94
6-Months 8.50 9.00 9.00 9.50 9.00
9-Months 8.75 9.25 9.25 9.50 9.19
1-Year 9.00 9.50 9.65 9.90 9.51
=================================================================
RUPEE IN LAHORE: The rupee maintained upward trend and further appreciated its worth by 10-paisa in relation to the greenback in the local currency markets on Thursday.
According to the currency dealers, the dollar selling continued, which provided support to the local currency. The dollar's trading commenced at Rs 60.05 and Rs 60.15 on buying and selling sides, respectively. Due to selling pressure, the greenback could not maintain its value and further declined to Rs 60.00 and Rs 60.10 against on buying and selling counters, respectively, as against Rs 60.10 and Rs 60.20 of Wednesday, the dealers said.
On the contrary, the local currency could not come out of pressure and registered loss against the pound sterling. The British pound was purchased at Rs 106.80 and was sold at Rs 107.20 as compared to Rs 106.50 and Rs 106.80 of Wednesday, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi on Thursday.
The dollar opened at Rs 59.85 (buying) and Rs 60.10 (selling) against same previous rate. It did not witness any further change in the evening spell and closed at Rs 59.85 (buying) and Rs 60.10 (selling).
Pound sterling opened at Rs 106.35 (buying) and Rs 106.70 (selling) against same previous rate. It did not observe any further change and closed at Rs 106.35 (buying) and Rs 106.70 (selling).
Comments
Comments are closed.