Bearish trend continued in the interbank market on Tuesday as the rupee dropped by 12 paisa against dollar, currency analysts said. As a result of the rising demand by the importers, dollar maintained its upward trend and it is expected that, if the supply position not eased, the rupee may face further devaluation, they said.
In the second session of the week, dollar steadied above record lows against euro and a basket of currencies after euro zone officials expressed concerns about the sharp rise of the single European currency. The euro's rise to a record high against dollar prompted verbal intervention by euro zone finance ministers as well as European Central Bank President Jean-Claude Trichet on Monday.
OPEN MARKET RATES: The rupee failed to resist slide against dollar for buying and selling at 62.85 and 62.95 due to rising demand for dollars by the interbank market, dealers said. The rupee also shed the same amount in relation to euro for buying and selling at Rs 94.90 and Rs 95.00, dealers said. The euro has managed to retain its gain versus the rupee as it is making sharp gains versus dollar in the international markets, dealers said.
================================
Open Buying Rs 62.85
Open Selling Rs 62.95
================================
INTERBANK CLOSING RATES: Interbank closing rates for dollar on Tuesday.
==============================
Buying Rs 62.82
Selling Rs 62.85
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 8.50 10.40 9.00 10.40 9.58
1-Week 9.20 9.40 9.40 9.60 9.40
2-Weeks 9.30 9.50 9.45 9.60 9.46
1-Month 9.35 9.60 9.45 9.65 9.51
2-Months 9.45 9.50 9.50 9.60 9.51
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
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 9.00 10.40 9.25 10.45 9.78
1-Week 9.40 9.75 9.60 10.00 9.69
2-Weeks 9.50 10.00 10.00 10.25 9.94
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
=================================================================
RUPEE IN LAHORE: The rupee slipped against dollar but marginally improved against the British pound in Lahore currency markets on Tuesday. The dollar was traded at Rs 62.75 and Rs 62.85 on buying and selling sides, respectively, against Monday's closing rates of Rs 62.70 and Rs 62.80.
The British pound was purchased and sold at Rs 123.90 and Rs 124.40 as compared to overnight closing rates of Rs 124.00 and Rs 124.50 respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar surged by 35 paisa against rupee at the currency markets of Islamabad and Rawalpindi on Tuesday. The dollar opened at Rs 62.75 (buying) and Rs 62.85 (selling) against last rate of Rs 62.40 (buying) and Rs 62.50 (selling). It did not observe any change in the evening session and closed at Rs 62.75 (buying) and Rs 62.85 (selling).
Pound sterling opened at Rs 124 (buying) and Rs 124.50 (selling) against last rate of Rs 123 (buying) and Rs 123.25 (selling). It did not observe further change in the second session and closed at Rs 124 (buying) and Rs 124.50 (selling).
Comments
Comments are closed.