Modest fall was seen in the interbank market on Thursday as supply of dollars was tight due to high demand by the importers to meet payment needs, money experts said. In the interbank market, the rupee lost four paisa versus dollar at Rs 60.74 and Rs 60.76 for buying and selling, respectively.
Local holidays created dearth of dollars and hurt the rupee's firmness, but it looks that the rupee may recover its lost ground versus the greenback, they said.
In the world markets dollar failed to retain its steadier trend as the Federal Reserve Bank's move on Wednesday faded the expectations of rise in the US interest rates in the near future, dealers said. On Wednesday, the bank left the interest rates unchanged at 5.25 percent for the fifth session in a raw, they said.
OPEN MARKET RATES: The rupee recovered five paisa against the dollar for buying and selling at Rs 60.80 and Rs 60.90, they said. The rupee was sharply lower against the euro , shedding 45 paisa for buying and selling at Rs 79.00 and Rs 79.10, they said.
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Buying Rs 60.80
Selling Rs 60.90
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Thursday.
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Buying Rs 60.74
Selling Rs 60.76
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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 9.25 8.50 9.40 8.79
1-Week 8.70 8.90 8.85 9.00 8.86
2-Weeks 8.75 8.90 8.85 9.00 8.88
1-Month 8.70 8.90 8.75 8.95 8.83
2-Months 8.70 8.80 8.75 8.90 8.79
3-Months 8.70 8.95 8.80 9.00 8.86
4-Months 8.70 9.00 8.80 9.10 8.90
5-Months 8.75 9.00 8.85 9.15 8.94
6-Months 8.80 9.00 8.90 9.20 8.98
9-Months 8.85 9.10 9.00 9.25 9.05
1-Year 8.90 9.10 9.10 9.35 9.11
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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 8.75 9.50 9.00 9.75 10.05
1-Week 9.00 9.75 9.50 10.00 9.75
2-Weeks 9.25 9.75 9.50 10.25 10.01
1-Month 9.50 10.00 9.75 10.25 10.38
2-Months 9.50 10.00 9.75 10.50 10.62
3-Months 9.75 10.50 10.25 10.75 10.77
4-Months 10.00 10.75 10.25 11.00 10.98
5-Months 10.00 10.75 10.50 11.00 11.19
6-Months 10.25 11.00 10.75 11.25 11.43
9-Months 10.40 11.00 11.00 11.50 10.98
1-Year 10.50 11.25 11.00 11.50 11.06
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RUPEE IN LAHORE: The dollar-rupee parity remained unchanged amid sluggish trading trend in the local currency markets on Thursday.
According to the currency dealers, there was no change in dollar's demand and supply condition, which helped the rupee maintain its overnight position.
The dollar's trading commenced at Wednesday's closing levels of Rs 60.80 and Rs 60.90 as its buying and selling rates, respectively. The opening rates continued to prevail during the Tuursday's trading and finally closed at the same levels, the dealers said.
However, the rupee failed to maintain its position and depreciated its worth against the pound sterling. The pound's buying rate improved from Rs 118.60 to Rs 119.00 while its selling rate moved up from Rs 119.00 to Rs 119.30, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The buying and selling rates of the dollar against the rupee remained unchanged in the open currency markets of Islamabad and Rawalpindi on Thursday.
The dollar opened at Rs 60.90 (buying) and Rs 61.00 (selling) against the last rate. It did not observe any further fluctuation in the second spell and closed at Rs 60.90 (buying) and Rs 61.00 (selling).
Pound Sterling opened at Rs 119.20 (buying) and Rs 119.40 (selling) against the previous rate. It did not observe any change in the second session and closed at Rs 119.20 (buying) and Rs 119.40 (selling).
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