The rupee rates moved both ways on the currency market on Wednesday amid higher demand for dollars by importers, dealers said. On the interbank market the rupee lost eight paisa at 80.58 in relation to dollar for buying, it also shed seven paisa for selling at 80.62, they said. During the third session of the week in Asia yen rose recovering after hitting a five month low against euro the previous day as Japanese investors repatriated funds before the fiscal year-end.
The dollar also edged up against euro but gains were limited due to continued worries about the US Federal Reserves quantitative easing programme, which includes buying US government debt, as well as waning optimism about a US plan to mop up banks toxic assets.
OPEN MARKET RATES: Against the interbank market trend the rupee posted fresh gain of 20 paisa for buying at 80.20 and it also gained 10 paisa for selling at 80.60, they said. Commenting on the rising demand for the US currency money viewers said that the rupee may cross the level of 81 in days to come. The rupee gave up its overnight weakness versus euro by gaining Re.1 for buying and selling at Rs 107.50 and Rs 108.50, they added.
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Open Buying Rs 80.20
Open Selling Rs 80.60
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Wednesday.
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Buying Rs 80.58
Selling Rs 80.62
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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 3.00 11.25 3.50 11.75 7.38
1-Week 11.00 11.25 11.25 11.50 11.25
2-Week 11.25 11.75 11.50 12.00 11.63
1-Month 11.25 11.60 11.75 12.00 11.65
2-Months 11.25 11.40 11.40 11.50 11.39
3-Months 11.25 11.50 11.40 11.60 11.44
4-Months 11.30 11.50 11.45 11.65 11.48
5-Months 11.40 11.60 11.50 11.70 11.55
6-Months 11.45 11.60 11.55 11.70 11.58
9-Months 11.50 11.65 11.60 11.75 11.63
1-Year 11.50 11.65 11.60 11.75 11.63
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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 4.00 12.00 5.00 13.00 8.50
1-Week 11.00 12.50 11.50 13.00 12.00
2-Week 12.00 13.00 12.50 13.50 12.75
1-Month 12.00 12.75 12.50 13.00 12.56
2-Months 12.10 12.75 12.50 13.00 12.59
3-Months 12.10 13.00 12.25 13.25 12.65
4-Months 12.25 13.00 12.50 13.25 12.75
5-Months 12.50 13.25 12.75 13.50 13.00
6-Months 12.75 13.50 13.00 13.75 13.25
9-Months 12.75 13.75 13.00 14.00 13.38
1-Year 13.00 13.75 13.25 14.00 13.50
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RUPEE IN LAHORE: The Pak rupee-dollar parity remained unchanged amid sluggish trading trend in the Lahore currency market on Wednesday. According to the moneychangers, there was no visible change in dollars demand and supply situation that helped rupee stability in the open market. The dollar was traded at Tuesday closing rates of Rs 80.30 and Rs 80.60 on buying and selling rates, respectively. However, the rupee recovered some of its earlier loss and appreciated against the British pound. The pounds buying and selling rates slide down from overnight closing of Rs 116.00 and Rs 117.00 to Rs 115.50 and Rs 116.50, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi on Wednesday. The dollar opened at Rs 80.20 (buying) and Rs 80.30 (selling) against the last rate. It did not witness change in the evening session and closed at Rs 80.20 (buying) and Rs 80.30 (selling). Pound Sterling opened at Rs 114.00 (buying) and Rs 115.00 (selling) against the last rate of Rs 115.00 (buying) and Rs 116.00 (selling). It did not observe further change in the second spell and closed at Rs 114.00 (buying) and Rs 115.00 (selling).
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