Dollar again started showing its muscles in the interbank market, gaining 25 paisa against the rupee for buying and selling at 62.23 and 62.25, dealers said. Supply of dollar was tight, which unabled the rupee to continue its stability versus the US currency, they added.
But it is expected that the rupee may be able to gain its strength in days to come, they said. In the first Asian trading session, dollar hovered near a three-week low against euro, dogged by worries the US economy may fall into recession and by market expectations for the Federal Reserve to lower interest rates more.
The euro was supported after data late last week showed that euro-zone services growth sprang back in February from a 4-1/2 year low, tempering expectations for a near-term rate cut by the European Central Bank.
OPEN MARKET RATES: The rupee fell sharply against the greenback , losing 15 paisa for buying and selling at 62.35 and 62.45, they said. The rupee maintained its weekend level versus euro for buying and selling at Rs 92.25 and Rs 92.35, they said.
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Open Buying Rs 62.35
Open Selling Rs 62.45
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Monday.
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Buying Rs 62.23
Selling Rs 62.25
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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 9.25 10.25 9.40 10.40 9.83
1-Week 9.50 9.70 9.60 9.80 9.65
2-Weeks 9.40 9.70 9.55 9.75 9.60
1-Month 9.40 9.65 9.55 9.75 9.59
2-Months 9.40 9.50 9.50 9.60 9.50
3-Months 9.45 9.55 9.55 9.75 9.58
4-Months 9.50 9.65 9.65 9.75 9.64
5-Months 9.50 9.75 9.65 9.80 9.68
6-Months 9.55 9.75 9.70 9.90 9.73
9-Months 9.60 9.80 9.70 9.90 9.75
1-Year 9.65 9.80 9.75 9.90 9.78
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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 9.50 10.40 9.60 10.45 9.99
1-Week 9.75 10.00 9.90 10.25 9.98
2-Weeks 9.75 10.00 10.00 10.25 10.00
1-Month 9.75 10.25 10.00 10.40 10.10
2-Months 9.75 10.25 10.00 10.50 10.13
3-Months 9.75 10.30 10.00 10.50 10.14
4-Months 9.75 10.35 10.00 10.50 10.15
5-Months 9.90 10.40 10.20 10.50 10.25
6-Months 10.00 10.40 10.25 10.50 10.29
9-Months 10.00 10.50 10.25 10.60 10.34
1-Year 10.10 10.50 10.30 10.60 10.38
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RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 60 paisa against rupee at the currency markets of Islamabad and Rawalpindi on Monday.
The dollar opened at Rs 62.50 (buying) and Rs 62.60 (selling) against last rate of Rs 61.90 (buying) and Rs 62 (selling). 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 122.60 (buying) and Rs 122.80 (selling) against last rate of Rs 121.80 (buying) and Rs 121.90 (selling). It did not witness further change in the evening session and closed at Rs 122.60 (buying) and Rs 122.80 (selling).
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