General trend in the currency market was firm as the rupee fluctuated slightly against the dollar and euro, dealers said on Thursday.
The rupee inched up with one paisa gain against the dollar in the interbank market for buying and selling at 60.67 and 60.69 on balanced demand and supply position, money experts said. In the international markets, the US currency drifted lower against major currencies as the dollar hovered near a record low against the euro and a 26-year low versus sterling during the forth session.
The dollar dragged down by expectations for US interest rate cuts while a monetary tightening outlook supported other currencies. Data showing rising US home foreclosures and falling mortgage applications raised concerns that the housing sector woes could hurt the economy, reinforcing views that the Federal Reserve would cut interest rates later this year.
OPEN MARKT RATES: The rupee fell by two paisa against the dollar for buying at 60.72 while it maintained its overnight level for selling at 60.80, dealers said. The rupee surrendered its overnight gains against the euro as the single European currency managed to recover 27 paisa for buying at Rs 82.19 and Rs 82.29 for selling on the back of overseas gains, moneychangers said.
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Buying Rs 60.72
Selling Rs 60.80
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Thursday.
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Buying Rs 60.67
Selling Rs 60.69
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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 4.50 8.50 5.00 8.60 6.65
1-Week 8.40 8.60 8.50 8.75 8.56
2-Weeks 8.50 8.75 8.70 8.80 8.69
1-Month 8.70 8.80 8.75 8.90 8.79
2-Months 8.70 8.85 8.80 8.95 8.83
3-Months 8.75 8.95 8.80 9.00 8.88
4-Months 8.80 8.90 8.85 9.00 8.89
5-Months 8.80 9.00 8.90 9.10 8.95
6-Months 8.85 9.00 8.90 9.15 8.98
9-Months 8.85 9.10 9.00 9.20 9.04
1-Year 8.90 9.10 9.10 9.25 9.09
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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 5.50 8.60 6.00 8.75 7.21
1-Week 8.75 9.00 9.00 9.25 9.00
2-Weeks 8.90 9.10 9.00 8.25 8.81
1-Month 9.00 9.25 9.25 9.50 9.25
2-Months 9.25 10.00 9.60 10.25 9.78
3-Months 9.50 10.00 9.75 10.25 9.88
4-Months 9.75 10.25 10.00 10.50 10.13
5-Months 10.00 10.50 10.25 10.75 10.38
6-Months 10.25 10.50 10.50 10.75 10.50
9-Months 10.25 10.75 10.75 11.25 10.75
1-Year 10.50 11.00 10.75 11.25 10.88
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RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi on Thursday.
The dollar opened at Rs 60.75 (buying) and Rs 60.85 (selling) against same previous 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 119 (buying) and Rs 119.20 (selling) against same previous rate. It did not observe any change in the second spell and closed at Rs 119 (buying) and Rs 119.20 (selling).
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