The rupee extended its overnight fall versus dollar in the open market on Friday, losing seven paisa for buying and selling at Rs 60.72 and Rs 60.82, respectively. The rupee also continued its slide against the euro, slipping 35 paisa for buying and selling at Rs 81.07 and Rs 81.17, they said.
Persisting demand did not allow the rupee to resist decline against dollar, they said. In the world markets dollar slid to a two-year low against the euro on Friday as trade wound down ahead of a closely watched US jobs report at the end of the week that may shed more light on the outlook for US interest rates.
A weak non-farm payrolls report would likely reinforce expectations the Federal Reserve may cut interest rates by as early as mid-year, in contrast to the euro zone and Britain, where interest rates are expected to rise in coming months.
INTERBANK MARKET RATES: The rupee held its firmness against the dollar for the third day in a row for buying and selling at Rs 60.74 and Rs 60.75, respectively.
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Buying Rs 60.72
Selling Rs 60.82
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Friday.
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Buying Rs 60.74
Selling Rs 60.75
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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 7.75 9.40 8.00 9.40 8.64
1-Week 8.65 8.80 8.80 8.90 8.79
2-Week 8.60 8.75 8.75 8.90 8.75
1-Month 8.70 8.85 8.80 8.90 8.81
2-Months 8.75 8.90 8.85 9.00 8.88
3-Months 8.75 8.95 8.85 9.00 8.89
4-Months 8.80 9.00 8.90 9.10 8.95
5-Months 8.80 9.00 8.85 9.15 8.95
6-Months 8.85 9.00 8.90 9.20 8.99
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 8.00 9.50 8.25 9.75 10.05
1-Week 9.00 9.50 9.25 9.75 9.75
2-Week 9.25 9.50 9.50 9.75 10.01
1-Month 9.25 9.75 9.50 10.00 10.38
2-Months 9.50 10.00 9.75 10.25 10.62
3-Months 10.00 10.25 10.25 10.50 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 10.75 10.75 11.00 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 rupee maintained downward trend and further lost its value by 10 paisa in relation to the greenback in the local currency markets on Friday.
According to the currency dealers, the dollar's trading commenced at Rs 60.65 and Rs 60.75 as its buying and selling rates, respectively. The dollar's demand remained intact, which pushed the rupee further down. At the end of the trading, the dollar closed at Rs 60.70 and Rs 60.80 against Thursday's closing of Rs 60.60 and Rs 60.70 on buying and selling sides, respectively, the dealers added.
On the contrary, the rupee gained strength and further improved against the pound sterling. The pound was purchased at Rs 118.50 and was sold at Rs 118.80 as compared to overnight closing of Rs 118.85 and Rs 119.15, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi on Friday.
The dollar opened at Rs 60.75 (buying) and Rs 60.85 (selling) against same last rate. It did not observe any change in the second session and closed at Rs 60.75 (buying) and Rs 60.85 (selling).
Pound Sterling opened at Rs 118.65 (buying) and Rs 118.75 (selling) against same overnight value. It did not observe any change in the second session and closed at Rs 118.65 (buying) and Rs 118.75 (selling).
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