The rates moved both ways on the currency market on Monday in process of modest trading, dealers said. The rupee rose by five paisa in relation to dollar for buying at 62.82 and it also gained six paisa for selling at 62.84, dealers said.
In the first session of the Asia, dollar trimmed some losses after hitting a record low versus euro and a 12-year low against yen after J.P. Morgan Chase said that it would buy cash-trapped Bear Stearns and the Federal Reserve cut its discount rate.
The moves by J.P. Morgan Chase and the Fed sought to prevent the widening credit crisis from taking down the fifth largest US investment bank and potentially spark a broader sell-off in financial markets. The Fed also set up a new discount lending facility for US primary dealers.
OPEN MARKET RATES: The rupee again crossed the barrier of 63 amid higher demand for dollars, losing 13 paisa for buying at 62.98 and selling at 63.08, dealers said. The rupee also crossed the barrier of Rs 99 in terms of the euro, falling sharply by 80 paisa for buying and selling at 99.25 and Rs 99.35, they said.
================================
Open Buying Rs 62.98
Open Selling Rs 63.08
================================
INTERBANK CLOSING RATES: Interbank closing rates for dollar on Monday
==============================
Buying Rs 62.82
Selling Rs 62.84
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 10.40 10.45 10.40 10.45 10.43
1-Week 10.10 10.30 10.25 10.40 10.26
2-Weeks 9.85 10.10 10.00 10.20 10.04
1-Month 9.65 9.80 9.75 9.90 9.78
2-Months 9.55 9.70 9.65 9.80 9.68
3-Months 9.55 9.75 9.65 9.80 9.69
4-Months 9.55 9.75 9.70 9.85 9.71
5-Months 9.60 9.80 9.70 9.85 9.76
6-Months 9.60 9.80 9.75 9.90 9.78
9-Months 9.75 9.90 9.85 10.00 9.88
1-Year 9.90 10.00 10.00 10.25 10.04
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 10.45 11.00 10.50 11.25 10.80
1-Week 10.45 10.75 10.50 11.00 10.68
2-Weeks 10.40 10.75 10.50 11.00 10.66
1-Month 10.25 10.65 10.40 10.75 10.51
2-Months 10.00 10.40 10.25 10.60 10.31
3-Months 10.00 10.40 10.25 10.50 10.29
4-Months 9.90 10.50 10.25 10.75 10.35
5-Months 9.90 10.50 10.25 10.75 10.35
6-Months 10.00 10.40 10.25 10.75 10.40
9-Months 10.00 10.75 10.40 11.00 10.54
1-Year 10.10 10.75 10.40 11.00 10.56
=================================================================
RUPEE IN LAHORE: The rupee lost 10 paisa against dollar at Lahore currency market on Monday.
There was increase in the demand for dollars and its buying rate improved from Saturday's closing of Rs 62.90 to Rs 63.00 and that of selling moving up from Rs 63.00 to Rs 63.10.
The rupee strengthened against pound which was bought and sold at Rs 126.00 and Rs 126.40 against the previous closing of Rs 126.30 and Rs 1236.70.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee surged by 30 paisa against dollar at the currency markets of Islamabad and Rawalpindi on Monday.
The dollar opened at Rs 62.70 (buying) and Rs 62.80 (selling) against last rate of Rs 63 (buying) and Rs 63.10 (selling) It did not observe any change in the evening session and closed at Rs 62.70 (buying) and Rs 62.80 (selling).
Pound sterling opened at Rs 125.90 (buying) and Rs 126 (selling) against last rate of Rs 126.75 (buying) and Rs 126.95 (selling). It did not observe further change in the second session and closed at Rs 125.90 (buying) and Rs 126 (selling).
Comments
Comments are closed.