The rupee recovered eight paisa for buying and seven paisa for selling against the dollar in the open market on Saturday ahead of long week-end due to May Day holiday, moneychangers said. The rupee gained handsome ground on easy supply of dollars, dealers said.
The rupee, however, continued its overnight weakness versus the euro, shedding 40 paisa for buying and selling at Rs 75.35 and Rs 75.45, dealers said.
According to the Reuters, the dollar fell against the euro on Friday to its lowest in almost a year, as selling intensified a day after Federal Reserve chairman Ben Bernanke said the US central bank may pause in raising interest rates.
INTERBANK RATES: The rupee fluctuated slightly versus the dollar for buying and selling at 60.06 and 60.07 in the interbank market on Saturday, dealers said.
Demand for dollars was high due to market closure globally and locally, they said. So the rupee may face slight fall in the coming days, they added.
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Buying Rs 60.12
Selling Rs 60.18
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Saturday.
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Buying Rs 60.06
Selling Rs 60.07
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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 8.90 8.95 8.90 8.95 8.93
1-Week 8.75 8.90 8.85 8.95 8.86
2-Week 8.70 8.75 8.80 8.85 8.78
1-Month 8.75 8.80 8.85 8.90 8.83
2-Months 8.60 8.75 8.70 8.80 8.71
3-Months 8.70 8.80 8.80 8.85 8.79
4-Months 8.65 8.75 8.75 8.80 8.74
5-Months 8.65 8.75 8.75 8.80 8.74
6-Months 8.65 8.75 8.75 8.85 8.75
9-Months 8.70 8.80 8.80 8.90 8.80
1-Year 8.75 8.80 8.85 8.90 8.83
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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 9.25 9.35 9.50 9.28
1-Week 9.00 9.15 9.20 9.45 9.20
2-Week 9.00 9.25 9.10 9.50 9.21
1-Month 9.00 9.40 9.25 9.50 9.29
2-Months 8.90 9.25 9.10 9.50 9.19
3-Months 9.25 9.60 9.50 9.75 9.53
4-Months 9.15 9.50 9.40 9.75 9.45
5-Months 9.20 9.60 9.50 9.80 9.53
6-Months 9.25 9.60 9.55 9.80 9.55
9-Months 9.50 10.00 9.80 10.25 9.89
1-Year 9.60 10.00 9.80 10.25 9.91
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RUPEE IN LAHORE: The rupee showed strength and further appreciated its worth by 5-paisa in relation to the greenback in the local currency markets on Saturday.
According to the currency dealers, the dollar's selling continued for the second day which helped the local currency maintain upward slide. The dollar's trading commenced at Friday's closing levels of Rs 60.20 and Rs 60.30 as its buying and selling rates, respectively. Due to lacking interest on the part of buyers, the dollar moved down and closed at Rs 60.15 and Rs 60.25 on buying and selling sides, respectively, the dealers added.
On the contrary, the local currency remained under pressure and maintained downward trend against the pound sterling. The pound's buying rate improved from Friday's closing rate of Rs 107.80 to Rs 108.80 while selling rate increased from Rs 108.10 to Rs 109.20, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The buying and selling rates of dollar against the rupee remained unchanged at the open currency markets of Islamabad and Rawalpindi on Saturday.
The dollar opened at Rs 60.30 (buying) and Rs 60.40 (selling) against same previous rate. It did not observe any fluctuation in the last trading hours and closed at Rs 60.30 (buying) and Rs 60.40 (selling).
Pound sterling opened at Rs 107 (buying) and Rs 107.20 (selling) against same previous rate. It did not observe any change and closed at Rs 107 (buying) and Rs 107.20 (selling).
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