Bearish sentiment resurfaced in the open market on Friday as the rupee dropped eight paisa in a single day versus the dollar for buying and selling at 60.58 and 60.63, dealers said.
Rising demand in the interbank market propelled the banks to cover their immediate needs. The rupee lost 28 paisa against the euro for buying and selling at Rs 77.16 and Rs 77.26, dealers said. In the overseas markets, the euro gained sharply versus the major currencies following the speculation that the European Central Bank (ECB) intends to increase the interest rates, they said.
INTERBANK RATES: The rupee shed one paisa versus the dollar for buying and selling at 60.27 and 60.29, dealers said.
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Buying Rs 60.58
Selling Rs 60.63
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Friday.
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Buying Rs 60.27
Selling Rs 60.29
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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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1-Week 7.50 8.00 7.75 8.20 7.86
2-Weeks 7.75 8.10 8.00 8.25 8.03
1-Month 7.95 8.25 8.10 8.40 8.18
2-Months 8.15 8.30 8.25 8.40 8.28
3-Months 8.25 8.50 8.35 8.50 8.40
4-Months 8.30 8.55 8.40 8.65 8.48
5-Months 8.40 8.55 8.50 8.70 8.54
6-Months 8.40 8.65 8.50 8.70 8.56
9-Months 8.50 8.70 8.65 8.80 8.66
1-Year 8.70 8.80 8.75 8.85 8.78
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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 7.50 8.90 7.75 8.90 8.26
1-Week 8.00 8.40 8.25 8.75 8.35
2-Weeks 8.20 8.60 8.40 8.75 8.49
1-Month 8.60 9.15 8.75 9.25 8.94
2-Months 8.60 9.25 8.90 9.40 9.04
3-Months 8.75 9.40 9.15 9.60 9.23
4-Months 8.90 9.40 9.25 9.60 9.29
5-Months 9.00 9.50 9.25 9.60 9.34
6-Months 9.25 9.65 9.40 9.75 9.51
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 rupee depreciated its value by five-paisa in relation to the greenback in the local currency markets on Friday.
According to the currency dealers, the dollar resumed trading at Thursday's closing rates of Rs 60.65 and Rs 60.75 on buying and selling sides, respectively. Due to surge in its demand, the dollar improved its worth and closed at Rs 60.70 and Rs 60.80 on buying and selling sides, respectively, the dealers added.
Similarly, the local currency remained week against the pound sterling. The pound's buying rate improved from previous closing rate of Rs 111.00 to Rs 111.30, while selling rate moved up from Rs 111.40 to Rs 111.60, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the currency exchange establishments of Islamabad and Rawalpindi on Friday.
The dollar opened at Rs 60.60 (buying) and Rs 60.70 (selling) against same previous rate. Ever-favourite greenback did not observe any change in the second session and closed at Rs 60.60 (buying) and Rs 60.70 (selling).
Pound sterling opened at Rs 111.40 (buying) and Rs 111.60 (selling) against same overnight value. The British currency did not observe any further change in the evening session and closed at Rs 111.40 (buying) and Rs 111.60 (selling).
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