The rupee resisted further erosion versus the dollar in the open market, recovering 14 paisa for buying at 60.70 and managed to gain 19 paisa for selling at 60.75, dealers said.
Easy availability of dollars made the rupee able to come out from downside, dealers said. The dollar demand is up these days so the rupee has failed to maintain its firmness versus the dollar. Expectedly, after completion of all genuine payments the rupee might be able to regain its ground, they added. The rupee lost 19 paisa in relation to the euro for buying and selling at Rs 76.57 and Rs 76.66, dealers said.
In the world markets, following the European Central Bank's (ECB) statement, the euro hit the record high versus the leading currencies, dealers said. According to the report that China is considering to lower its dollar-dominated foreign currency exchange reserves, hurt the dollar's firmness.
Additionally, a member of the ECB said that the inflation risks increased and a possible hike of 50 basis point is expected at the ECB's meeting in August.
INTERBANK RATES: The rupee did not move any side versus the dollar for buying and selling at 60.20 and 60.22 respectively amid balanced demand and supply of dollar, they said.
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Buying Rs 60.70
Selling Rs 60.75
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Tuesday.
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Buying Rs 60.20
Selling Rs 60.22
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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 2.00 6.50 3.00 7.00 4.63
1-Week 7.50 8.00 8.00 8.25 7.94
2-Weeks 7.75 8.10 8.00 8.25 8.03
1-Month 7.80 8.10 7.90 8.25 8.01
2-Months 8.25 8.50 8.30 8.55 8.40
3-Months 8.30 8.60 8.40 8.65 8.49
4-Months 8.40 8.65 8.55 8.70 8.58
5-Months 8.40 8.65 8.55 8.70 8.58
6-Months 8.50 8.70 8.65 8.75 8.65
9-Months 8.60 8.75 8.75 8.85 8.74
1-Year 8.70 8.80 8.80 8.85 8.79
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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 3.00 7.00 3.50 7.50 5.25
1-Week 8.25 8.75 8.50 8.90 8.60
2-Weeks 8.25 8.50 8.40 8.75 8.48
1-Month 8.50 8.90 8.75 9.00 8.79
2-Months 8.75 9.10 8.90 9.40 9.04
3-Months 8.75 9.25 8.90 9.50 9.10
4-Months 8.90 9.40 9.10 9.60 9.25
5-Months 9.00 9.50 9.25 9.60 9.34
6-Months 9.25 9.50 9.40 9.70 9.46
9-Months 9.25 9.75 9.60 10.00 9.65
1-Year 9.50 9.75 9.75 10.25 9.81
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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, there was no change in dollar's demand and supply condition, which helped the local currency maintain its overnight position. The dollar's trading commenced at overnight closing rates of Rs 60.75 and Rs 60.85 on buying and selling sides, respectively. The opening rates continued to prevail throughout the day's trading, the dealers added.
However, the local currency failed to come out of pressure and further lost its worth against the pound sterling. The British pound was purchased at Rs 111.00 and was sold at Rs 111.30 as compared to previous closing rates of Rs 110.80 and Rs 111.20, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar-rupee parity on Tuesday remained unchanged in the currency markets of Islamabad and Rawalpindi. The dollar rates for buying and selling were Rs 60.80 and Rs 60.90, respectively.
The dollar opened at Rs 60.80 (buying) and Rs 60.90 (selling) in the morning and closed at the same rates at the closing hour of the market.
Pound sterling also maintained its last working day's level against the rupee. Its buying and selling rates at the closing hours were Rs 110.70 and Rs 111 respectively against the overnight rates of Rs 111.00 (buying) and Rs 111.30 (selling).
Euro rates buying and selling were Rs 76.10 and Rs 76.30 respectively at the end of the day.
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