Gradual fall was witnessed on the interbank market on Saturday as dollar buying was strong by the importers, dealers said. The rupee shed five paisa in relation to dollar for buying and selling at 79.20 and 79.25. But in the open the rupee was higher sharply, they said.
All global markets were closed at the weekend, causing short supply of the US currency, they added. At the weekend, in the New York market, the US dollar rallied from 6-1/2 month lows against yen amid hopes for an another coordinated response to tackle the global credit crisis from G7 monetary leaders currently in Washington for a meeting.
Persistently tight credit conditions despite a raft of measures by policy-makers worldwide to unlock lending have stoked investor fears and led to extremely volatile trading across financial markets. OPEN MARKET RATES: The rupee recovered 50 paisa against dollar for buying and selling at 79.80 and it also rose by 40 paisa for selling at 80.30, they said. The rupee fell sharply against the euro, 1.20 to Rs 108.50 and it also gained 2.60 for selling at Rs 110.50, they said.
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Open Buying Rs 79.80
Open Selling Rs 80.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Saturday.
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Buying Rs 79.20
Selling Rs 79.25
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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 2.00 8.00 3.00 9.00 5.50
1-Week 10.00 10.75 10.50 11.00 10.56
2-Week 11.00 11.50 11.60 11.90 11.50
1-Month 11.75 12.10 12.20 12.30 12.09
2-Months 12.25 12.40 12.40 12.50 12.39
3-Months 12.35 12.50 12.45 12.60 12.48
4-Months 12.40 12.55 12.50 12.60 12.51
5-Months 12.45 12.60 12.55 12.65 12.56
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 15.00 27.00 16.00 28.00 21.50
1-Week 13.00 20.00 14.00 21.00 17.00
2-Week 14.00 18.00 15.00 19.00 16.50
1-Month 14.00 17.00 15.00 18.00 16.00
2-Months 14.00 17.00 15.00 18.00 16.00
3-Months 14.00 16.00 15.00 17.00 15.50
4-Months 14.00 16.00 15.00 17.00 15.50
5-Months 14.25 16.50 15.25 17.50 15.88
6-Months 14.25 16.50 15.25 17.50 15.88
9-Months 15.00 18.00 16.00 19.00 17.00
1-Year 15.00 18.00 16.00 19.00 17.00
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RUPEE IN LAHORE: The Pak rupee maintained upward move and increased its value by 20 paisa on selling side while it remained unchanged on the buying side in the kerb market on Saturday. The dollar could not sustain due to declining demand and moved down on selling side. At the end of trading, the dollar was closed at Rs 79.80 and Rs 80.10 on buying and selling sides against the Friday closing of Rs 79.80 and Rs 80.30, respectively.
Likewise, the rupee continuing rising trend and further appreciated against the pound sterling, which was traded at Rs 136.50 and Rs 137.50 on buying and selling counters against the day earlier closing of Rs 137.00 and Rs 138.00, 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 79.80 (buying) and Rs 80.30 (selling) against the last rate. It did not observe further change in the second session and closed at Rs 79.80 (buying) and Rs 80.30 (selling).
Pound Sterling opened at Rs 138.00 (buying) and Rs 138.40 (selling) against the last rate. It did not observe further change by the end of evening spell and closed at Rs 138.00 (buying) and Rs 138.40 (selling).
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