The rupee extended its overnight gains versus the dollar in the open market on Tuesday as it posted fresh gain of 10 paisa for buying and selling at 60.65 and 60.67, respectively.
Increased supply of dollars boosted the rupee's value and it may hold its command over the gain due to easy availability of dollars, dealers said. Versus the euro, the rupee also ascended and gained seven paisa for buying and selling at Rs 75.59 and Rs 75.69 on continued its fall in the world market, they said.
In the world markets, the dollar recovered modest ground after falling on profit-taking, as investors turned to inflation and capital flows data, which is expected shortly for clues on whether the dollar has room for a further rise.
Foreign traders were of the view that the market is also keeping a close watch on the US media reports saying the United States has detected signs in North Korea that it may be preparing for a second nuclear test.
OPEN MARKET RATES:
INTERBANK RATES: The rupee, however, showed slight weakness versus the dollar, shedding one paisa for buying and selling at Rs 60.65 and Rs 60.67, respectively.
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Buying Rs 60.48
Selling Rs 60.53
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Tuesday.
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Buying Rs 60.65
Selling Rs 60.67
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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 8.00 8.75 8.25 8.90 8.48
1-Week 8.60 8.80 8.75 8.90 8.76
2-Weeks 8.60 8.80 8.75 8.90 8.76
1-Month 8.50 8.75 8.70 9.10 8.76
2-Months 8.50 8.75 8.65 9.10 8.75
3-Months 8.55 8.80 8.70 9.10 8.79
4-Months 8.60 8.90 8.75 9.15 8.85
5-Months 8.65 8.90 8.80 9.15 8.88
6-Months 8.70 9.00 8.85 9.20 8.94
9-Months 8.75 9.00 9.00 9.25 9.00
1-Year 8.85 9.10 9.10 9.35 9.10
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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 9.90 9.50 10.00 9.60
1-Week 9.50 9.75 9.75 10.25 9.81
2-Weeks 9.50 10.00 9.75 10.25 9.88
1-Month 9.75 10.25 10.00 10.50 10.13
2-Months 9.75 10.25 10.00 10.50 10.13
3-Months 9.75 10.50 10.25 10.75 10.31
4-Months 9.75 10.50 10.25 10.75 10.31
5-Months 9.75 10.50 10.25 10.75 10.31
6-Months 10.25 10.75 10.50 11.00 10.63
9-Months 10.25 10.75 10.50 11.00 10.63
1-Year 10.50 10.75 11.00 11.25 10.88
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RUPEE IN LAHORE: The rupee maintained upward slide and further appreciated its value by 5-paisa in relation to the greenback in the local currency markets on Tuesday.
According to the currency dealers, the dollar remained under selling pressure that helped the local currency to gain strength. The dollar's trading commenced at overnight closing rates of Rs 60.55 and Rs 60.65 on buying and selling counters, respectively. However, due to lacking buying support, the dollar further slipped to Rs 60.50 and Rs 60.60 on buying and selling sides, respectively, the dealers added.
Likewise, the local currency continued rising trend for the second consecutive day against the pound sterling.
The British pound was purchased at Rs 112.30 and was sold at Rs 112.80 against Rs 112.40 and Rs 112.90 of Monday, 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 60.65 (buying) and Rs 60.75 (selling) against same last rate. It did not observe further change by the end of second session and closed at Rs 60.65 (buying) and Rs 60.75 (selling).
Pound Sterling opened at Rs 113 (buying) and Rs 113.20 (selling) against same overnight value. It did not witness any change in the last trading hours and closed at Rs 113 (buying) and Rs 113.20 (selling).
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