Bearish sentiment was seen in the interbank market on Tuesday as the rupee lost 22 paisa against dollar for buying and selling at 62.48 and 62.50, dealers said. In the absence of smooth supply of dollars, the rupee tumbled with sharp losses, they added.
In the world market, in the second day trade, euro came under pressure and the yen gained on heightened fears that a US recession would take a toll on global growth including Europe, dealers said. The euro was hit on concern that Europe would feel the effects of a US slowdown and after top eurozone finance official Jean-Claude Juncker conceded that a recession in the world's biggest economy "could not be ruled out."
INTERBANK MARKET RATES: The rupee shed five paisa against dollar for buying at 62.75 while it did not move any side for selling at 62.85, dealers said. The rupee held its firmness versus euro, gaining 40 paisa for buying and selling at Rs 90.10 and 90.20, they said.
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Open Buying Rs 62.75
Open Selling Rs 62.85
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Tuesday.
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Buying Rs 62.48
Selling Rs 62.50
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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 8.25 9.50 8.50 9.75 9.00
1-Week 9.00 9.35 9.20 9.45 9.25
2-Weeks 9.25 9.40 9.40 9.50 9.39
1-Month 9.30 9.50 9.40 9.60 9.45
2-Months 9.35 9.60 9.45 9.70 9.53
3-Months 9.35 9.65 9.50 9.70 9.55
4-Months 9.40 9.65 9.50 9.70 9.56
5-Months 9.45 9.70 9.55 9.75 9.61
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 8.50 9.75 8.75 9.90 9.23
1-Week 9.40 9.60 9.50 9.75 9.56
2-Weeks 9.60 9.75 9.75 9.85 9.74
1-Month 9.70 9.90 9.80 10.00 9.85
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 has plummeted against the greenback in the open currency market.
The demand for dollar on Tuesday remained intact beginning trading at Rs 62.65 and Rs 62.75 as its buying and selling rates, but closed at Rs 62.70 and Rs 62.80 on buying and selling sides against the overnight closing of Rs 62.60 and Rs 62.70.
The rupee failed to get out of pressure and declined against the pound traded at Rs 122.00 and Rs 122.40 against Monday's closing of Rs 121.70 and Rs 122.10 on buying and selling counters.
RUPEE IN ISLAMABAD AND RAWALPINDI: The buying and selling rates of dollar against rupee remained unchanged at the open currency markets of Islamabad and Rawalpindi on Tuesday.
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 tradinh hours and closed at Rs 122.25 (buying) and Rs 122.40 (selling).
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