Downward trend was seen in the interbank market on Tuesday as the rupee shed three paisa against the dollar for buying at 59.73 and dropped four paisa on the selling side at 59.77, respectively.
Money experts said that corporate demand for dollar pushed the rupee value down despite the higher inflows. Higher import bills made the dollar dearer in the market as the banks increased US currency buying to meet the payment requirements, they said.
In the Asian trading, the dollar moved slightly against the world major currency, dealers said. They said that the dollar is likely to show slight fluctuations versus the euro in the near future, they said.
OPEN MARKET RATES: Against the interbank market trend, the rupee firmly held its overnight level versus the dollar for buying and selling at 60.05 and 60.10, respectively.
In the morning session, the rupee shed five paisa versus the dollar for buying and selling at 59.95 and 60.05 due to slight improvement in dollars' supply, they said.
The rupee gained 10 paisa against the euro for buying and selling at Rs 71.30 and Rs 71.40, respectively.
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Kerb Buying Rs 60.05
Kerb Selling Rs 60.10
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Tuesday.
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Buying Rs 59.73
Selling Rs 59.77
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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 8.50 8.90 8.70 8.90 8.75
1-Week 8.25 8.40 8.55 8.70 8.48
2-Week 8.25 8.40 8.40 8.60 8.41
1-Month 8.20 8.35 8.35 8.50 8.35
2-Months 8.25 8.35 8.30 8.45 8.34
3-Months 8.20 8.35 8.35 8.45 8.34
4-Months 8.25 8.40 8.35 8.55 8.39
5-Months 8.25 8.40 8.35 8.60 8.40
6-Months 8.25 8.40 8.40 8.60 8.41
9-Months 8.25 8.50 8.50 8.65 8.48
1-Year 8.45 8.60 8.70 8.80 8.64
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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 9.00 9.75 9.25 10.00 9.50
1-Week 8.40 8.75 8.60 8.80 8.64
2-Week 8.40 8.75 8.60 9.00 8.69
1-Month 8.40 9.00 8.75 9.50 8.91
2-Months 8.50 9.25 8.75 9.75 9.06
3-Months 8.60 9.50 9.00 9.75 9.21
4-Months 8.65 9.60 9.00 10.00 9.31
5-Months 8.70 9.75 9.00 10.00 9.36
6-Months 8.75 9.75 9.00 10.00 9.38
9-Months 8.80 9.75 9.25 10.00 9.45
1-Year 8.80 9.80 9.35 10.20 9.54
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RUPEE IN LAHORE: The dollar-rupee parity remained unchanged amid sluggish trading trend in the local currency markets on Tuesday.
According to the currency dealers, the dollar's demand and supply conditions remained intact, which helped the local currency, maintain its value in the local kerb. The dollar resumed trading at overnight closing rates of Rs 59.95 and Rs 60.05 on buying and selling counters, respectively. There was no visible change in dollar's worth during the day and finally it was closed at the opening levels, the dealers added.
Moreover, the local currency remained strong and appreciated its worth against the pound sterling. The pound's buying rate declined from Monday's closing rate of Rs 105.50 to Rs 105.40 while selling rate remained unchanged at Rs 105.80, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi on Tuesday.
The dollar opened at Rs 59.90 (buying) and Rs 60 (selling) against same previous rate. It did not observe any further change in the second spell and closed at Rs 59.90 (buying) and Rs 60 (selling).
Pound sterling opened at Rs 105.30 (buying) and Rs 106 (selling) against same previous rate. It did not observe any further change in the evening session and closed at Rs 105.30 (buying) and Rs 106 (selling).
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