Steady trend was seen in the interbank market on Friday as the rupee retained its overnight levels against dollar for buying at 62.45 and selling at 62.48, dealers said. Easy supply of dollars provided an opportunity to the rupee to sustain its levels in process of trading, they said.
In the Asian final session, the euro inched up on Friday, supported after tough inflation talk from a European Central Bank official dashed speculation of a possible euro-zone interest rate cut, even as the Federal Reserve is expected to slash rates further.
A broad recovery in global stock markets from a frantic sell-off has helped to stir risk demand, boosting high-yielding currencies particularly versus yen, which in turn pushed the low-yielding Japanese currency down against dollar.
INTERBANK MARKET RATES: The rupee maintained its overnight rising trend in terms of dollar, picking up five paissa for buying at 62.65 and also rose by 10 paisa for selling at 62.75, dealers said. The rupee failed to come out of the falling trend versus euro, dropping further 73 paia for buying and selling at Rs 92.03 and Rs 92.14, they said.
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Open Buying Rs 62.65
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 62.45
Selling Rs 62.48
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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 3.50 8.25 4.00 8.50 6.06
1-Week 8.80 9.15 8.95 9.25 9.04
2-Weeks 9.00 9.25 9.10 9.30 9.16
1-Month 9.10 9.35 9.15 9.45 9.26
2-Months 9.30 9.50 9.45 9.55 9.45
3-Months 9.35 9.55 9.45 9.60 9.49
4-Months 9.40 9.60 9.50 9.65 9.54
5-Months 9.40 9.60 9.50 9.65 9.54
6-Months 9.45 9.65 9.55 9.75 9.60
9-Months 9.45 9.70 9.55 9.75 9.61
1-Year 9.45 9.70 9.55 9.75 9.61
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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 4.00 8.50 4.50 8.75 6.44
1-Week 9.00 9.40 9.30 9.50 9.30
2-Weeks 9.25 9.50 9.40 9.60 9.44
1-Month 9.40 9.65 9.50 9.75 9.58
2-Months 9.60 9.90 9.75 10.00 9.81
3-Months 9.65 9.90 9.75 10.00 9.83
4-Months 9.75 10.00 9.90 10.10 9.94
5-Months 9.75 10.00 9.90 10.10 9.94
6-Months 9.90 10.25 10.00 10.40 10.14
9-Months 9.90 10.25 10.10 10.40 10.16
1-Year 9.90 10.25 10.10 10.50 10.19
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RUPEE IN LAHORE: The rupee gained 10 paisa against dollar in Lahore currency market on Friday. The dollar started trading at Rs 62.55 and Rs 62.65 for buying and selling, but moved down to Rs 62.50 and Rs 62.60 at the end of trading.
Against the pound, the rupee failed to change its downward course and slipped to Rs 123.30 and Rs 123.60 as compared to Thursday's closing of Rs 122.30 and Rs 122.80 on buying and selling counters.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against dollar at the currency markets of Islamabad and Rawalpindi on Friday.
The dollar opened at Rs 62.60 (buying) and Rs 62.70 (selling) against same last rate. It did not observe any change in the second session and closed at Rs 62.60 (buying) and Rs 62.70 (selling). Pound sterling opened at Rs 122.40 (buying) and Rs 122.60 (selling) against same overnight value. It did not observe any change in the evening session and closed at Rs 122.40 (buying) and Rs 122.60 (selling).
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