The rupee-dollar official parity rates stayed put in the interbank market on Thursday despite the higher demand for the US currency, dealers said.The rupee retained its overnight value versus the greenback for buying and selling at 72.50 and 72.55 amid rising demand for the greenback, they said.
In fact, there is little hope of recovery of the rupee in the near future in the absence of inflows of dollars, currency experts said. But, experts opined that the inflows should be in shape of investment and remittances in the country and not small loans or grants from any donor country.
The political instability in the country has cast a gloom over all the sectors besides soaring prices of essential items and rising unemployment also creating uncertainty among the masses.
Meanwhile, in the Asian trade, the dollar fell from a seven-month high against the yen, a day after the US currency rallied as a fall in oil prices to a new three-month low eased concerns about the drag of high energy prices on the world's biggest economy. The New Zealand and Australian dollars gave up earlier gains against the dollar after strong employment data did little to alter expectations that the central banks there will cut interest rates in the coming months.
OPEN MARKET RATES: The rupee lost 30 paisa against the dollar for buying at 73.05 and 25 paisa for selling at 73.25. The rupee gave up its overnight firmness against the euro, losing 10 paisa for buying and selling at 112.10 and Rs 112.30, dealers said.
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Open Buying Rs 73.05
Open Selling Rs 73.25
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Thursday.
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Buying Rs 72.50
Selling Rs 72.55
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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 7.75 12.90 8.00 12.90 10.39
1-Week 10.25 11.00 10.50 11.25 10.75
2-Week 10.50 10.75 10.90 11.10 10.81
1-Month 10.75 11.20 11.10 11.40 11.11
2-Months 11.60 11.80 11.75 11.90 11.76
3-Months 11.75 12.00 12.00 12.10 11.96
4-Months 11.85 12.10 12.10 12.25 12.08
5-Months 11.90 12.20 12.15 12.30 12.14
6-Months 11.90 12.25 12.15 12.35 12.16
9-Months 12.00 12.25 12.20 12.35 12.20
1-Year 12.10 12.25 12.20 12.40 12.24
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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 13.50 10.00 14.00 11.75
1-Week 11.50 12.50 12.00 13.00 12.25
2-Week 12.00 13.50 12.50 13.75 12.94
1-Month 12.50 13.50 13.00 14.00 13.25
2-Months 13.00 13.75 13.50 14.25 13.63
3-Months 13.00 14.50 13.50 15.00 14.00
4-Months 13.00 14.50 13.75 15.00 14.06
5-Months 13.00 14.75 14.00 15.25 14.25
6-Months 13.50 15.00 14.00 15.50 14.50
9-Months 13.75 15.00 14.50 15.50 14.69
1-Year 14.00 15.50 14.75 15.75 15.00
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RUPEE IN LAHORE: The rupee showed recovery and improved its value by 10 paisa against the dollar in the open currency market on Thursday. The demand for dollar demand could not remain intact that helped rupee's improvement. The dollar was traded at Rs 72.70 and Rs 73.10 on buying and selling sides as compared to overnight closing of Rs 72.80 and Rs 73.20, respectively. On the contrary, the rupee continued downward slide and further lost its value versus the pound sterling. The British currency was purchased at Rs 142.10 and sold at Rs 142.50 against the Wednesday closing of Rs 141.80 and Rs 142.80, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar was plus by 50 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi on Thursday. It opened at Rs 73.00 (buying) and Rs 73.50 (selling) against the last rate of Rs 72.50 (buying) and Rs 73.00 (selling). It did not observe any further change in the evening session and closed at Rs 73.00 (buying) and Rs 73.50 (selling). Pound Sterling opened at Rs 142.00 (buying) and Rs 142.50 (selling) against the last rate of Rs 142.50 (buying) and Rs 143.50 (selling). It did not observe any further change in the evening session and closed at Rs 142.00 (buying) and Rs 142.50 (selling).
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