The euro maintained its surge in the open market on Saturday, crossing the barrier of Rs 86 as it surged in the international market against the dollar, dealers said. The single European currency, picked up 46 paisa in relation to the rupee for buying and selling at Rs 86.06 and Rs 86.16, they said.
The rupee, however, managed to gain five paisa against dollar for buying and selling at Rs 60.65 and Rs 60.70, dealers said. In the New York markets, dollar fell to record lows against euro and a basket of major currencies after economic data supported expectations that Federal Reserve would cut interest rates again to shore up sluggish growth.
Further monetary easing, on top of a half a percentage point reduction in the federal funds rate last week to 4.75 percent, would further erode appeal for dollar-denominated assets.
INTERBANK RATES: The rupee failed to resist its firmness in the interbank market at the weekend, shedding one paisa against the dollar for buying and selling at Rs 60.70 and Rs 60.72, dealers said. Tight supply of dollar did not allow the rupee to retain its firmness. The supply of dollars was tight due to international market closure, they said.
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Kerb Buying Rs 60.65
Kerb Selling Rs 60.70
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Saturday.
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Buying Rs 60.70
Selling Rs 60.72
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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 9.00 9.90 9.25 9.90 9.51
1-Week 9.10 9.25 9.25 9.30 9.23
2-Weeks 9.05 9.20 9.10 9.25 9.15
1-Month 9.10 9.25 9.15 9.30 9.20
2-Months 9.10 9.30 9.20 9.35 9.24
3-Months 9.15 9.30 9.25 9.35 9.26
4-Months 9.15 9.35 9.30 9.40 9.30
5-Months 9.20 9.35 9.30 9.40 9.31
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
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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 9.25 9.95 9.50 10.00 9.68
1-Week 9.25 9.50 9.50 9.60 9.46
2-Weeks 9.25 9.40 9.30 9.50 9.36
1-Month 9.30 9.50 9.40 9.60 9.45
2-Months 9.30 9.60 9.40 9.70 9.50
3-Months 9.35 9.60 9.40 9.75 9.53
4-Months 9.30 9.70 9.50 9.80 9.58
5-Months 9.40 9.90 9.60 10.00 9.73
6-Months 9.60 10.00 9.75 10.10 9.86
9-Months 9.75 10.10 10.00 10.25 10.03
1-Year 9.90 10.25 10.10 10.40 10.16
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RUPEE IN LAHORE: The rupee gained five paisa against dollar in Lahore currency market on Saturday.The dollar witnessed a slight decline in its demand on the weekend and traded at Rs 60.65 and Rs 60.75 against Friday's closing of Rs 60.70 and Rs 60.80 on buying and selling sides.
The rupee slipped against pound sterling. The pound's buying rate improved from previous closing of Rs 122.40 to Rs 123.30 and selling rate from Rs 122.70 to Rs 123.60.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the currency markets of Islamabad and Rawalpindi on Saturday.
The dollar opened at Rs 60.60 (buying) and Rs 60.70 (selling) against same last rate. It did not observe any change in the last trading hours and closed at Rs 60.60 (buying) and Rs 60.70 (selling).
Pound sterling opened at Rs 122.50 (buying) and Rs 122.70 (selling) against same last rate. It did not observe any change in the second session and closed at Rs 122.50 (buying) and Rs 122.70 (selling).
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