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Firmness prevailed in the currency market on Monday as the rupee held its week-end level against dollar for buying and selling at Rs 60.61 and Rs 60.63, dealers said.
There was some improvement in supply of dollar, so the rupee resisted movement any side. It might not be able to retain its level in future, they said. In the Asian market dollar drifted lower in term of yen. The Japanese currency edged up from a 4-1/2-year low versus dollar and all-time low versus euro on Monday, but stayed pressured as the Bank of Japan (BoJ), unlike other central banks, is seen not in a hurry to raise rates.
Investors continued to sell the low-yielding Japanese currency in carry trades while some were cautious after the Swiss franc, another favoured funding currency for carry trades surged on Friday.
OPEN MARKET RATES: In the early session, the rupee commenced the week on a negative note, losing five paisa at Rs 61.10 and Rs 61.18 for buying and selling respectively, dealers said.
At close the rupee-dollar parity rate did not show any change due to continued buying of dollars by the interbank from the open market, they observed. Meanwhile, the rupee did not move sharply, just gaining one paisa for buying and selling, in terms of euro Rs 82.00 and Rs 82.10, they said.



================================
Kerb Buying Rs 61.10
Kerb Selling Rs 61.18
================================

INTERBANK CLOSING RATES: Interbank closing rates for dollar on Monday.



==============================
Buying Rs 60.61
Selling Rs 60.63
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 5.50 8.50 6.00 8.75 7.19
1-Week 7.75 8.50 8.25 8.75 8.31
2-Weeks 8.50 8.75 8.75 8.90 8.73
1-Month 8.60 8.80 8.75 8.90 8.76
2-Months 8.70 8.90 8.80 9.00 8.85
3-Months 8.80 8.95 8.85 9.00 8.90
4-Months 8.80 9.00 8.85 9.05 8.93
5-Months 8.85 9.00 8.95 9.10 8.98
6-Months 8.85 9.10 9.00 9.15 9.03
9-Months 8.90 9.10 9.05 9.20 9.06
1-Year 8.90 9.15 9.10 9.25 9.10
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 6.50 9.00 7.00 9.25 7.94
1-Week 8.50 9.00 8.75 9.25 8.88
2-Weeks 8.75 9.25 9.00 9.40 9.10
1-Month 8.90 9.25 9.10 9.50 9.19
2-Months 9.25 9.50 9.40 9.70 9.46
3-Months 9.25 9.60 9.40 9.75 9.50
4-Months 9.40 9.75 9.65 9.90 9.68
5-Months 9.50 9.75 9.75 10.00 9.75
6-Months 9.75 10.00 10.00 10.25 10.00
9-Months 10.00 10.25 10.25 10.50 10.25
1-Year 10.00 10.50 10.25 10.75 10.38
=================================================================

RUPEE IN LAHORE: The Pak rupee maintained Saturday's position and remained unchanged against the greenback in the local currency markets on Monday.
According to the currency dealers, the dollar resumed trading at Saturday's closing levels of Rs 61.05 and Rs 61.15 as its buying and selling rates, respectively. The opening rates continued to prevail during the entire day's trading and finally closed at the same level, the dealers added.
However, the local currency remained depressed and registered marginal loss against the pound sterling. The pound's buying rate improved from previous closing of Rs 121.65 to Rs 121.70 while selling rate moved up from Rs 122.05 to Rs 122.10, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi on Monday.
The dollar opened at Rs 60.90 (buying) and Rs 61 (selling) against same last week's rate. It did not observe any change in the second session and closed at Rs 60.90 (buying) and Rs 61 (selling).
Pound Sterling resumed trading at Rs 120 (buying) and Rs 120.20 (selling) against same previous rate. It did not witness any change in the last trading hours and closed at Rs 120 (buying) and Rs 120.20 (selling).
Copyright Business Recorder, 2007

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