Upward trend was seen in the interbank market on Wednesday as the rupee posted fresh gain of eight paisa in relation to dollar for buying and selling at Rss 60.67 and Rs 60.69, dealers said. Dollar flows are good and it is expected that the rupee may gain more strength in the coming days as remittances will rise with gradual pace, they said.
In the month of Ramazan, the overseas Pakistanis send foreign exchange to their relatives for the preparations of Eid-ul-fitr, moneychangers said. In the world markets, during the third session of the week, dollar gave up its overnight firmness against yen, as the Japanese currency gained against dollar and the euro as sliding Tokyo shares dampened investor appetite for risk and triggered an unwinding of carry trades. Mounting volatility in the US and European money markets as borrowers scramble to raise funds is heightening investor aversion towards risk, traders said.
OPEN MARKET RATES: The rupee extended its slide against dollar losing five paisa for buying and selling at Rs 61.00 and Rs 61.05, they said. The rupee, however, picked up 16 paisa against the euro for buying and selling at Rs 82.47 and Rs 82.57, they said.
================================
Kerb Buying Rs 61.00
Kerb Selling Rs 61.05
================================
INTERBANK CLOSING RATES: Interbank closing rates for dollar on Wednesday.
==============================
Buying Rs 60.67
Selling Rs 60.69
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 5.50 8.75 6.00 8.90 7.29
1-Week 8.60 9.00 8.80 9.10 8.88
2-Weeks 8.75 9.10 9.00 9.20 9.01
1-Month 8.95 9.20 9.10 9.30 9.14
2-Months 9.05 9.25 9.15 9.30 9.19
3-Months 9.10 9.30 9.20 9.40 9.25
4-Months 9.15 9.30 9.25 9.40 9.28
5-Months 9.15 9.35 9.25 9.45 9.30
6-Months 9.20 9.40 9.30 9.45 9.34
9-Months 9.25 9.40 9.35 9.50 9.38
1-Year 9.25 9.45 9.35 9.50 9.39
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 6.00 9.00 6.50 9.10 7.65
1-Week 8.75 9.25 9.00 9.30 9.08
2-Weeks 9.00 9.25 9.15 9.35 9.19
1-Month 9.20 9.40 9.30 9.45 9.34
2-Months 9.25 9.75 9.50 9.85 9.59
3-Months 9.40 9.70 9.60 9.80 9.63
4-Months 9.50 9.80 9.65 9.90 9.71
5-Months 9.60 9.90 9.90 10.00 9.85
6-Months 9.75 10.00 9.90 10.10 9.94
9-Months 9.90 10.25 10.10 10.40 10.16
1-Year 10.00 10.25 10.25 10.50 10.25
=================================================================
RUPEE IN LAHORE: The rupee lost five paisa against the greenback in the local currency market on Wednesday.
The currency dealers said the dollar's trading commenced at Tuesday's closing rates of Rs 60.85 and Rs 60.95 on buying and selling sides. Because of fresh buying, the dollar moved up and finally closed at Rs 60.90 and Rs 61.00 on buying and selling sides, respectively, the dealers said.
However, the rupee remained firm and improved its worth against the pound sterling. The pound's buying rate declined from Rs 122.30 to Rs 122.10 while selling rate moved down from Rs 122.60 to Rs 122.40, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi on Wednesday.
The dollar opened at Rs 60.90 (buying) and Rs 61 (selling) against the same overnight value. It did not observe any change in the second session and closed at Rs 60.90 (buying) and Rs 61 (selling).
Pound Sterling opened at Rs 122.30 (buying) and Rs 122.50 (selling) against same last rate. British currency did not observe further fluctuation by the end of second spell and closed at Rs 122.30 (buying) and Rs 122.50 (selling).
Comments
Comments are closed.