Steady trend was seen in the in the interbank market on Saturday as the rupee shed one paisa against dollar for buying at Rs 60.68 and was unchanged for selling at 60.69, dealers said. The market was moving on demand and supply factor; so the rupee managed to hold on to its present level, they added.
They said that the rupee may not fluctuate sharply against dollar in near future. The dollar edged up against the euro at the week-end after touching a two-year low overnight, helped by rallying US stock prices and as dealers squared their positions before the weekend.
A rebound in US stocks on Friday helped offset what was likely to be the dollar's biggest weekly decline against a basket of major currencies so far this year.
OPEN MARKT RATES: The rupee managed to hold on to its overnight levels against dollar for buying and selling at 60.72 and 60.80, dealers said. The rupee gave up its overnight weakness in relation to euro, gaining 19 paisa for buying and selling at Rs 82.15 and Rs 82.25, moneychangers said. The rupee strengthened against the euro as the dollar recovered its losses on the back of the US share's rise, dealers 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 Saturday.
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Buying Rs 60.68
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 8.50 9.00 8.75 9.25 8.88
1-Week 8.50 8.70 8.60 8.80 8.65
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 8.75 9.25 9.00 9.50 9.13
1-Week 8.75 9.00 9.00 9.25 9.00
2-Weeks 8.90 9.10 9.00 9.25 9.06
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 LAHORE: The rupee shed 5 paisa in relation to dollar on Lahore currency markets on Saturday.
According to dealers, dollar trading commenced at overnight levels of Rs 60.72 and Rs 60.80 as its buying and selling sides, respectively. The dollar's demand remained intact that pushed down the value of local currency at Rs 60.75 and Rs 60.85 on buying and selling counters, respectively.
However, the rupee maintained its overnight closing levels and remained unchanged against pound sterling. The British pound was purchased and sold at Rs 121.00 and Rs 121.30, respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged in the open currency markets of Islamabad and Rawalpindi on Saturday.
The dollar opened at Rs 60.75 (buying) and Rs 60.85 (selling) against the 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 the 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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