Worries about portfolio outflows from the stock market, kept the rupee under pressure on the interbank market on Thursday, falling 1.05 against the rupee for buying and selling at 72.05 and 72.10, dealers said. The rupee failed to show any improvement against dollar in the absence of guiding factors, specially on the political front, currency experts said.
In the fourth Asian session dollar dipped on Thursday after a report that sovereign wealth funds were seeking to reduce their exposure to the US currency, taking some wind out of its rebound the previous day on tumbling oil prices and rallying stocks.
Analysts said the report in the Financial Times highlighted the gradual shift away from dollar that has been taking place the past few years and helped fuel its slide to record lows against euro.
OPEN MARKET RATES: The rupee continued its fall against dollar due to strong demand, slipping 50 paisa for buying at 71.70 and it also shed 70 paisa for selling at 72.30, they said. The rupee followed the same in terms of euro, losing Rs 1.20 for buying and selling at Rs 112.45 and Rs 112.55, dealers said.
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Open Buying Rs 71.70
Open Selling Rs 72.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Thursday.
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Buying Rs 72.05
Selling Rs 72.10
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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 7.00 10.50 7.50 11.00 9.00
1-Week 10.00 10.30 10.25 10.40 10.24
2-Week 10.10 10.40 10.30 10.50 10.33
1-Month 10.30 10.50 10.50 10.60 10.48
2-Months 11.50 11.60 11.65 11.75 11.63
3-Months 11.65 11.75 11.75 11.80 11.74
4-Months 11.65 11.75 11.75 11.80 11.74
5-Months 11.70 11.80 11.75 11.85 11.78
6-Months 11.70 11.80 11.75 11.90 11.79
9-Months 11.80 11.90 11.90 11.95 11.89
1-Year 11.80 11.90 11.90 11.95 11.89
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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 12.00 13.25 12.50 13.50 12.81
1-Week 11.50 13.00 12.00 13.50 12.50
2-Week 11.50 13.00 12.00 13.50 12.50
1-Month 12.00 13.50 13.00 14.00 13.13
2-Months 12.00 14.00 13.00 14.50 13.38
3-Months 12.50 14.50 13.50 15.00 13.88
4-Months 13.00 14.50 14.00 15.00 14.13
5-Months 13.50 14.50 14.00 15.50 14.38
6-Months 14.00 14.75 14.50 15.50 14.69
9-Months 14.25 15.00 14.75 16.00 15.00
1-Year 14.50 15.50 15.00 16.00 15.25
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RUPEE IN LAHORE: The rupee has further slipped and lost its value against the greenback and the pound sterling, failing to get out of pressure and continued its downward slide for the fourth consecutive day against the US dollar.
The dollar jumped to Rs 72.30 and Rs 72.60 on the buying and selling sides against the overnight closing of Rs 72.00 and Rs 72.30. There was hardly any uniformity in the dollar's selling rate since dealers quoted Rs 73.00 reflecting further depreciation of the local currency in the next two days, moneychangers said.
The rupee also remained under pressure and further depreciated its worth against the British pound whose buying and selling rates increased from Tuesday's closing of Rs 140.30 and Rs 141.00 to Rs 141.40 and Rs 142.50.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar was up by 20 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi on Thursday.
The dollar opened at Rs 71.00 (buying) and Rs 71.20 (selling) against the last rate of Rs 70.80 (buying) and Rs 71.00 (selling). It did not change in the evening session and closed at Rs 71.00 (buying) and Rs 71.20 (selling).
Pound Sterling opened at Rs 142.00 (buying) and Rs 142.20 (selling) against the last rate of Rs 141.00 (buying) and Rs 141.50 (selling). It did not change in the second session and closed at Rs 142.00 (buying) and Rs 142.20 (selling).
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