Bullish trend persisted on the currency market on Saturday as the rupee looked ahead due to expectations of high inflows, dealers said. On the interbank market the rupee jumped and gained 10 paisa in a single day rally against the dollar for buying and selling at 80.34 and 80.37, they said.
Good supply of dollars helped the rupee to maintain its present position and it is most likely that the local currency may hold its firmness for the near future, they said. At the weekend, in the New York market the US dollar touched a one-month high against euro after comments from European Central Bank President Jean-Claude Trichet left investors uncertain about the bank's future policy path.
The dollar was also boosted by a slight rise in risk aversion despite a smaller-than-expected loss from Citigroup as investors reassessed the sustainability of the recent spate of more upbeat results. OPEN MARKET RATES: The rupee improved versus dollar, gaining 10 paisa for buying at 80.60 and it also picked up 20 paisa for selling at 80.70, they said. The rupee maintained it's surge in relation to euro, soaring Rs 1.50 for buying and selling at Rs 104.00 and Rs 105.00, they said.
================================
Open Buying Rs 80.60
Open Selling Rs 80.70
================================
Interbank Closing Rates: Interbank Closing Rates For Dollar On Saturday.
==============================
Buying Rs 80.34
Selling Rs 80.37
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 11.00 14.00 11.50 14.50 12.75
1-Week 12.75 13.00 13.00 13.20 12.99
2-Week 12.75 13.00 13.00 13.25 13.00
1-Month 12.75 13.00 13.00 13.20 12.99
2-Months 12.75 13.00 12.90 13.20 12.96
3-Months 12.75 13.10 13.00 13.20 13.01
4-Months 12.80 13.10 13.00 13.25 13.04
5-Months 12.90 13.15 13.10 13.30 13.11
6-Months 12.90 13.15 13.15 13.30 13.13
9-Months 13.00 13.20 13.20 13.30 13.18
1-Year 13.05 13.20 13.20 13.35 13.20
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 12.00 14.25 13.00 14.50 13.44
1-Week 13.00 13.50 13.25 13.75 13.38
2-Week 12.75 13.25 13.10 13.50 13.15
1-Month 13.00 13.50 13.25 13.75 13.38
2-Months 13.20 13.75 13.50 13.90 13.59
3-Months 13.20 13.75 13.60 13.90 13.61
4-Months 13.25 13.50 13.40 13.75 13.48
5-Months 13.25 13.50 13.50 13.75 13.50
6-Months 13.30 13.60 13.50 13.75 13.54
9-Months 13.35 13.75 13.50 14.00 13.65
1-Year 13.50 13.75 13.60 14.00 13.71
=================================================================
RUPEE IN LAHORE: The rupee gained five-paisa against dollar in Lahore currency market on Saturday.According to currency dealers, the dollar closed lower at Rs 80.60 and Rs 80.85 as its buying and selling rates against Friday's Rs 80.65 and Rs 80.90, respectively. Likewise, the rupee showed strength and continued overnight rising trend against pound sterling. The pound slipped to Rs 118.00 and Rs 119.00 as compared to previous Rs 118.30 and Rs 119.30 on buying and selling counters, 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 80.50 (buying) and Rs 81 (selling) against the same last rate. It did not observe further change in the evening session and closed at Rs 80.50 (buying) and Rs 81 (selling). Pound Sterling opened at Rs 117.80 (buying) and Rs 118.80 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 117.80 (buying) and Rs 118.80 (selling).
Comments
Comments are closed.