Downward trend continued on the interbank market at the weekend as the rupee lost 15 paisa against dollar for buying at 78.45 and it also shed 10 paisa for selling at 78.50, currency experts added. The rupee was not able to come out of the bottom side due to tight supply of dollars and it may show slight weakness in the coming days, they said.
In the New York market, the US dollar rose versus euro as the approval of a $700 billion rescue package by Congress for the US financial sector left investors fretting that Europe might not have adequate measures to deal with the credit crisis. The euro saw its worst weekly percentage loss since its introduction in 1999, while dollar was on track for its best weekly gain versus major currencies in 16 years, according to Reuters data.
Interbank Closing Rates: Interbank Closing Rates For Dollar On Saturday.
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Buying Rs 78.45
Selling Rs 78.50
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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 12.50 12.90 12.75 12.90 12.76
1-Week 12.50 12.75 12.75 12.90 12.73
2-Week 12.40 12.55 12.60 12.70 12.56
1-Month 12.35 12.50 12.52 12.65 12.51
2-Months 12.40 12.60 12.55 12.65 12.55
3-Months 12.45 12.60 12.60 12.70 12.59
4-Months 12.45 12.60 12.60 12.70 12.59
5-Months 12.45 12.60 12.60 12.70 12.59
6-Months 12.50 12.65 12.60 12.70 12.61
9-Months 12.50 12.65 12.60 12.70 12.61
1-Year 12.55 12.65 12.65 12.75 12.65
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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 16.00 28.00 18.00 30.00 23.00
1-Week 16.00 26.00 18.00 28.00 22.00
2-Week 14.00 20.00 16.00 22.00 18.00
1-Month 14.00 18.00 15.00 19.00 16.50
2-Months 14.00 16.50 15.00 17.00 15.63
3-Months 14.00 16.50 15.00 17.00 15.63
4-Months 14.00 16.50 15.00 17.00 15.63
5-Months 14.25 17.00 15.25 17.50 16.00
6-Months 14.25 17.00 15.25 17.50 16.00
9-Months 14.25 17.00 15.25 17.50 16.00
1-Year 15.50 17.50 16.00 18.00 16.75
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RUPEE IN LAHORE: The Pak rupee opened on a negative note and lost 40 paisa against the US dollar in the Lahore currency market on Saturday. The dollar registered fresh demand that helped its appreciation in the local currency market, which resumed business today after Eid-ul-Fitr holidays. The dollar kept on moving up and finally closed higher at Rs 78.00 and Rs 78.80 on buying and selling sides against the Tuesday closing of Rs 77.60 and Rs 78.40, respectively.
However, the rupee recovered some of its earlier loss and improved its worth against the British pound. The pound was purchased and sold at Rs 137.50 and Rs 140.00 as compared to previous closing of Rs 139.60 and Rs 141.20, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi on Saturday.The dollar opened at Rs 78 (buying) and Rs 78.10 (selling) against the same last rate. It did not observe further change in the second session and closed at Rs 78 (buying) and Rs 78.10 (selling). Pound Sterling opened at Rs 143 (buying) and Rs 143.50 (selling) against the same last rate. It did not observe any further change in the second session and closed at Rs 144 (buying) and Rs 144.50 (selling).
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