All-round gains were seen on local currency market on Friday as dollars' supply was strong, helping the rupee to recover some ground against major currencies, dealers said. In the interbank market, the rupee gained five paisa versus dollar for buying at 62.20 and it also picked up eight paisa for selling at 62.22, dealers said.
In the final session of the week, dollar rebounded against yen as Tokyo stocks erased earlier losses to edge higher, prompting investors to trim their bets that the Japanese currency will rise further due to an unwinding of carry trades.
The Nikkei share average initially plunged as much as three percent to two-year lows, tracking sharp losses on Wall Street on Thursday on growing fears of a US recession.
INTERBANK MARKET RATES: Same trend mirrored on the open market as the rupee appreciated by 10 paisa against dollar at 62.60 and it rose by five paisa for selling at 62.75, dealers said. The rupee improved further against euro, picking up 30 paisa for buying and selling at Rs 91.10 and 91.20, they said.
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Open Buying Rs 62.60
Open Selling Rs 62.75
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Friday.
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Buying Rs 62.20
Selling Rs 62.22
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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 4.00 9.90 5.00 9.95 7.21
1-Week 9.75 9.85 9.85 9.90 9.84
2-Weeks 9.65 9.75 9.75 9.80 9.74
1-Month 9.45 9.60 9.60 9.70 9.59
2-Months 9.40 9.65 9.50 9.75 9.58
3-Months 9.40 9.65 9.50 9.75 9.58
4-Months 9.45 9.70 9.55 9.75 9.61
5-Months 9.45 9.70 9.60 9.75 9.63
6-Months 9.45 9.70 9.60 9.75 9.63
9-Months 9.45 9.70 9.60 9.75 9.63
1-Year 9.45 9.70 9.60 9.80 9.64
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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 5.00 9.90 6.00 9.95 9.71
1-Week 9.75 9.90 9.85 10.00 9.88
2-Weeks 9.70 9.90 9.80 10.00 9.85
1-Month 9.75 9.90 9.85 10.00 9.88
2-Months 9.75 9.90 9.90 10.00 9.89
3-Months 9.75 10.00 9.85 10.25 9.96
4-Months 9.75 10.00 9.90 10.25 9.98
5-Months 9.75 10.00 9.90 10.25 9.98
6-Months 9.90 10.25 10.00 10.50 10.16
9-Months 9.90 10.25 10.10 10.50 10.19
1-Year 9.90 10.25 10.10 10.50 10.19
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RUPEE IN LAHORE: The rupee failed to maintain its upward slide and shed five paisa against the US dollar in the open currency market, on Friday.
The dollar witnessed a slight increase in its demand and began trading at the overnight closing level of Rs 62.50 and Rs 62.60 on buying and selling sides. It then moved up and closed marginally higher at Rs 62.55 and Rs 62.65 on buying and selling sides.
The rupee remained under pressure and declined against the pound bought and sold at Rs 122.30 and Rs 122.60 as compared to Thursday's closing of Rs 122.00 and Rs 122.30.
RUPEE IN ISLAMABAD AND RAWALPINDI: The buying and selling rates of dollar against the rupee remained unchanged at the open currency markets of Islamabad and Rawalpindi on Friday.
The dollar resumed trading at Rs 62.30 (buying) and Rs 62.40 (selling) against same last rate. It did not observe any change in the second session and closed at Rs 62.30 (buying) and Rs 62.40 (selling).
Pound sterling opened at Rs 122.25 (buying) and Rs 122.40 (selling) against same previous rate. It did not observe any change in the last trading hours and closed at Rs 122.25 (buying) and Rs 122.40 (selling).
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