The dollar was higher against the rupee in the interbank market on Thursday as importers' rush increased for the US currency, dealers said. In the interbank market, the rupee gave up its overnight gains due to rising demand for the greenback, dropping nine paisa at 61.92 and 61.94 for buying and selling, they said.
According to the market sources the supply of dollars was not short but increased buying by importers was strong, which pushed the rupee value down. During the forth session of the week, dollar fell against yen in Asian trading on heightened concerns the US economy was headed for a sharp slowdown, possibly even a recession, dealers said.
In morning Singapore trading, dollar was at 109.365 yen from 109.59 in late New York trades on Wednesday. Financial markets in Japan are closed for the week and will reopen Friday. Against the euro, the dollar rebounded partially from overnight losses in New York trading with the European unit changing hands at 1.4705 dollars against 1.4721 dollars.
OPEN MARKET RATES: The rupee shed five paisa against the dollar for buying at 61.40 while it maintained its overnight level for selling at 60.50, they said. The rupee also lost 40 paisa against euro for buying and at Rs 89.80 and it was down by 49 paisa for selling at 89.99, they added.
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Open Buying Rs 61.40
Open Selling Rs 61.50
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Thursday.
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Buying Rs 61.92
Selling Rs 61.94
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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 2.00 9.90 2.50 9.90 6.08
1-Week 9.35 9.50 9.40 9.55 9.45
2-Weeks 9.40 9.50 9.60 9.70 9.55
1-Month 9.25 9.40 9.35 9.45 9.36
2-Months 9.20 9.35 9.30 9.45 9.33
3-Months 9.20 9.30 9.30 9.40 9.30
4-Months 9.30 9.45 9.45 9.50 9.43
5-Months 9.30 9.45 9.40 9.50 9.41
6-Months 9.30 9.50 9.40 9.55 9.44
9-Months 9.35 9.45 9.40 9.55 9.44
1-Year 9.35 9.50 9.40 9.55 9.45
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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 3.00 9.90 3.50 10.00 6.60
1-Week 9.50 9.60 9.55 9.70 9.59
2-Weeks 9.50 9.60 9.60 9.70 9.60
1-Month 9.40 9.50 9.50 9.65 9.51
2-Months 9.50 9.65 9.60 9.75 9.63
3-Months 9.60 9.75 9.70 9.80 9.71
4-Months 9.50 9.75 9.60 9.80 9.66
5-Months 9.50 9.90 9.65 9.90 9.74
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 has failed to maintain its overnight closing level and lost its value by 15 paisa against the dollar in the open currency market.
On Thursday the dollar, soon after the trading kick-started, Rs 60.15 and Rs 60.25 on buying and selling sides set out to increase and kept moving upward till the closing.
It then closed at Rs 61.35 and Rs 61.45 against Wednesday's closing of Rs 61.10 and Rs 61.20.
The rupee recovered its earlier loss and increased against the pound sterling bought and sold at Rs 120.50 and Rs 121.00 against the previous closing of Rs 121.00 and Rs 121.50.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar surged by 5 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi on Thursday.
The dollar opened at Rs 61.45 (buying) and Rs 61.55 (selling) against the rate of Rs 61.40 (buying) and Rs 61.50 (selling). It did not observe any change in the last trading hours and closed at Rs 61.40 (buying) and Rs 61.50 (selling).
Pound Sterling opened at Rs 120.80 (buying) and Rs 121.00 (selling) against the rate of Rs 121.00 (buying) and Rs 121.50 (selling). It did not observe any change in the evening session and closed at Rs 121.00 (buying) and Rs 121.50 (selling).
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