Bearish sentiment was seen on the interbank market on Friday as the rupee dropped by nine paisa against the dollar for buying at 62.73 and it shed 10 paisa for selling at 62.76, dealers said. Costlier payments requirements increased dollars' demand and did not allow the rupee to look forward.
It is expected that the rupee may move both ways in the coming days, they said. In the Asian markets, during the fifth session, dollar hovered in range of a record low against the euro on Friday before crucial US economic data due later in the day that is expected to show just how close the US economy is to a recession.
Traders are looking to US non-farm payrolls and a reading of factory activity to help them determine whether to keep dumping dollar, which tumbled to its weakest in nearly three years against yen last month.
OPEN MARKET RATES: The rupee shed five paisa in relation to dollar for buying and selling at 62.70 and 62.80, dealers said. Meanwhile, the rupee rose by 10 paisa versus euro for buying and selling at Rs 92.80 and Rs 92.90, they said.
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Open Buying Rs 62.70
Open Selling Rs 62.80
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Friday.
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Buying Rs 62.73
Selling Rs 62.76
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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 0.25 6.50 0.50 7.00 3.56
1-Week 7.75 8.25 8.00 8.50 8.13
2-Weeks 8.50 8.90 8.80 9.00 8.80
1-Month 9.00 9.30 9.25 9.40 9.24
2-Months 9.35 9.55 9.50 9.65 9.51
3-Months 9.45 9.65 9.50 9.70 9.58
4-Months 9.50 9.65 9.60 9.75 9.63
5-Months 9.50 9.65 9.60 9.75 9.63
6-Months 9.50 9.70 9.65 9.80 9.66
9-Months 9.55 9.70 9.65 9.80 9.68
1-Year 9.60 9.75 9.70 9.85 9.73
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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 0.50 6.75 1.00 7.25 3.88
1-Week 8.75 9.25 9.00 9.50 9.13
2-Weeks 9.00 9.50 9.25 9.60 9.34
1-Month 9.25 9.50 9.50 9.75 9.50
2-Months 9.75 10.00 9.90 10.10 9.94
3-Months 9.75 10.00 9.90 10.10 9.94
4-Months 9.75 10.10 10.00 10.25 10.03
5-Months 9.80 10.20 10.00 10.40 10.10
6-Months 9.90 10.30 10.10 10.50 10.20
9-Months 10.00 10.40 10.25 10.50 10.29
1-Year 10.00 10.50 10.25 10.60 10.34
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RUPEE IN LAHORE: The rupee was stable against dollar in Lahore currency market on Friday.
The demand and supply of dollars remained unchanged helping the rupee to maintain its overnight closing levels. The dollar was traded at Rs 62.55 and Rs 62.65 as its buying and selling rates.
The rupee declined against pound which was bought and sold at Rs 124.10 and Rs 124.40 as compared to Thursday's closing of Rs 124.00 and Rs 124.30.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the currency markets of Islamabad and Rawalpindi on Friday.
The dollar opened at Rs 62.50 (buying) and Rs 62.60 (selling) against same last rate. It did not observe any change in the evening session and closed at Rs 62.50 (buying) and Rs 62.60 (selling).
Pound sterling opened at Rs 123.40 (buying) and Rs 123.70 (selling) against same overnight value. It did not observe any change in the evening session and closed at Rs 123.40 (buying) and Rs 123.70 (selling).
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