Before the announcement of federal budget for 2008-09, the rupee held its overnight firmness against dollar on the interbank market on Wednesday, rising 30 paisa for buying and selling at 67.30 and 67.40, money experts said. Easy supply of dollars helped the rupee to improve from the previous levels versus dollar amid pre-budget session, they said.
Commenting on the new budget, some analysts said that the whole nation, who is already battling with the unrealistic surge in the prices of all essentials, not hoping for very positive things but traditionally, they feel something may be good in the new budget.
In the third session of the Asian trade, dollar held steady against other major currencies in Asian trade amid growing speculation that the US Federal Reserve may hike interest rates to fight inflation, dealers said.
They said the market was looking ahead to a meeting of Group of Eight finance ministers this weekend, with signs that Washington is seeking to put a floor under the greenback. The dollar was at 107.35 yen in Tokyo morning trade, compared with 107.38 in New York late Tuesday.
OPEN MARKET RATES: The rupee also try to hold its steadiness in the open market versus dollar, losing five paisa for buying at 68.25 and it gained 70 paisa for selling at 68.40, they said. The rupee managed to gain 70 paisa in relation to euro for buying and selling at Rs 105.10 and Rs 105.20, dealers said.
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Open Buying Rs 68.25
Open Selling Rs 68.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Wednesday.
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Buying Rs 67.30
Selling Rs 67.40
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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 7.25 9.50 7.50 9.75 8.50
1-Week 9.50 10.00 9.75 10.25 9.88
2-Week 9.75 10.00 9.85 10.40 10.00
1-Month 10.50 10.75 10.70 11.00 10.74
2-Months 10.75 11.00 11.00 11.20 10.99
3-Months 10.80 11.10 11.00 11.25 11.04
4-Months 11.00 11.25 11.25 11.30 11.20
5-Months 11.00 11.40 11.30 11.50 11.30
6-Months 11.25 11.50 11.40 11.60 11.44
9-Months 11.25 11.50 11.50 11.65 11.48
1-Year 11.25 11.50 11.50 11.70 11.49
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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 9.00 11.50 9.50 12.00 10.50
1-Week 10.50 11.50 11.00 12.50 11.38
2-Week 11.00 12.00 11.50 13.00 11.88
1-Month 12.00 13.00 13.00 14.00 13.00
2-Months 12.00 13.50 13.00 14.00 13.13
3-Months 13.00 14.50 14.00 15.00 14.13
4-Months 13.00 14.50 14.00 15.00 14.13
5-Months 13.75 14.50 14.25 15.00 14.38
6-Months 14.00 14.50 14.50 15.00 14.50
9-Months 14.00 14.50 14.50 15.00 14.50
1-Year 14.25 14.75 14.75 15.25 14.75
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RUPEE IN LAHORE: The dollar remained unchanged on buying side at Rs 68.00 and lost 10 paisa on selling side at Rs 68.40 in Lahore currency market on Wednesday.
There was no change in dollar's supply condition that helped the rupee maintain its overnight position on buying side at Rs 68.00. However, the dollar marginally declined on selling side and closed at Rs 68.40 against Rs 68.50 of Tuesday.
The pound's buying and selling rates decreased from previous closing of Rs 133.50 and Rs 134.50 on buying and selling counters to Rs 133.00 and Rs 133.75, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar was down by 10 paisa against rupee at the currency markets of Islamabad and Rawalpindi on Wednesday.
The dollar opened at Rs 68.10 (buying) and Rs 68.20 (selling) against last rates of Rs 68.20 (buying) and Rs 68.30 (selling). It did not observe further change in the second session and closed at Rs 68.10 (buying) and Rs 68.20 (selling).
Pound sterling opened at Rs 133 (buying) and Rs 133.75 (selling) against last rates of Rs 134.30 (buying) and Rs 134.80 (selling). It did not observe further change in the evening session and closed at Rs 133 (buying) and Rs 133.75 (selling).
The buying and selling rates of euro against rupee remained unchanged at Rs 105 (buying) and Rs 106 (selling) in both morning and evening sessions.
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