Divergent trend was seen on the currency market on Monday in the process of slow trading, dealers said. In the interbank market the rupee lost 22 paisa in terms of dollar for buying and selling at 79.37 and 79.42, they added. Trading activity was slow as a result of international market closure, they said and added that it is likely the rupee may fluctuate slightly in the near future.
In the first Asian trading yen dipped against higher-yielding currencies while the Australian dollar surged as leaders from Europe to the United States rushed out plans to shore up banks and stem the panic gripping investors. After many stock markets suffered their worst weekly losses ever last week, leaders from Group of Seven industrialised nations set out a plan of action.
OPEN MARKET RATES: The rupee maintained its weekend levels against the dollar, rising 30 paisa for buying at 79.50 and it also gained 50 paisa for selling at 79.80, they said. The rupee continued slide against euro, falling 20 paisa for buying at 108.70 and it also dropped by 1.65 paisa for selling at 108.85, they said.
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Open Buying Rs 79.50
Open Selling Rs 79.80
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Monday.
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Buying Rs 79.37
Selling Rs 79.42
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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 5.00 11.00 6.00 12.00 8.50
1-Week 11.75 12.00 12.00 12.25 12.00
2-Week 11.90 12.10 12.20 12.30 12.13
1-Month 12.00 12.25 12.25 12.35 12.21
2-Months 12.30 12.45 12.40 12.50 12.41
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 29.00 16.00 30.00 22.50
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 rupee could not maintain last week closing value and depreciated by 20 paisa on buying side and 30 paisa on selling side against the US dollar in the open currency market on Monday.
The dollar witnessed fresh demand that put the local currency under pressure. The dollar, after moving up, closed at Rs 80.00 and Rs 80.40 on buying and selling side against the Saturday closing of Rs 79.80 and Rs 80.10 respectively.
Similarly, the rupee remained under pressure and lost its worth against the British pound. The pound's buying and selling rate increased from last week closing of Rs 136.50 and Rs 137.50 to Rs 139.00 and Rs 140.00, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi on Monday.
The dollar opened at Rs 79.80 (buying) and Rs 80.30 (selling) against same 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 (buying) and Rs 138.40 (selling) against same last week's rate. It did not observe further change in the second session and closed at Rs 138 (buying) and Rs 138.40 (selling).
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