Further recovery was witnessed on the interbank market on Wednesday as the rupee gained 31 paisa against dollar for buying at 80.75 and rose by 28 paisa for selling at 80.80, dealers said. Comfortable supply of dollars boosted the rupee value and it is most likely that the rupee may recover more ground in the near future, they added.
In the third Asian session dollar hit the year's lows against the Australian dollar and sterling after upbeat US housing data the previous day buoyed risk appetite and reduced safe-haven demand for the greenback. The Australian dollar set eight-month highs against dollar and yen after data showed the economy managed to avoid recession in the first quarter of the year and grew more than expected.
OPEN MARKET RATES: The rupee inched up versus dollar rising 10 paisa for buying at 81.00 and gained five paisa for selling at 81.15, they said. The rupee, however, continued its slide in terms of euro losing 90 paisa for buying at Rs 115.00 and losing Re.1 for selling at 116.00, they said.
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Open Buying Rs 81.00
Open Selling Rs 81.15
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Wednesday.
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Buying Rs 80.75
Selling Rs 80.80
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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 11.75 13.90 12.00 13.90 12.89
1-Week 12.45 12.75 12.85 13.10 12.79
2-Week 12.55 13.00 12.90 13.20 12.91
1-Month 12.60 13.10 13.20 13.35 13.06
2-Months 12.60 13.00 13.20 13.30 13.03
3-Months 12.65 13.00 13.20 13.30 13.04
4-Months 12.65 13.15 13.20 13.30 13.08
5-Months 12.65 13.15 13.10 13.30 13.05
6-Months 12.65 13.20 13.20 13.30 13.09
9-Months 12.90 13.20 13.25 13.30 13.16
1-Year 13.00 13.25 13.25 13.30 13.20
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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 12.25 13.75 12.75 14.00 13.19
1-Week 12.75 13.00 12.90 13.25 12.98
2-Week 12.75 13.25 12.90 13.40 13.08
1-Month 13.00 13.35 13.60 14.00 13.49
2-Months 13.25 13.50 13.60 14.00 13.59
3-Months 13.25 13.60 13.50 13.75 13.53
4-Months 13.25 13.65 13.50 13.75 13.54
5-Months 13.30 13.75 13.50 13.85 13.60
6-Months 13.35 13.75 13.50 13.80 13.60
9-Months 13.40 13.75 13.50 13.80 13.61
1-Year 13.40 13.75 13.50 13.90 13.64
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RUPEE IN LAHORE: The rupee could not maintain its worth and lost ten-paisa in its value against the US dollar in the open currency market on Wednesday. The dollar resumed trading at overnight closing but could not sustain and started declining following an increase in its demand.
As a result, the dollar's buying and selling rates moved up and closed higher at Rs 81.00 and Rs 81.30 as compared to Tuesday closing of Rs 80.90 and Rs 81.20, the dealers said. However, the rupee could not get out of pressure and further declined against the pound sterling. The pound was traded at Rs 132.50 and Rs 133.50 at its buying and selling rates, as compared to Tuesday closing of Rs 132.00 and Rs 133.00, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi here on Wednesday. The dollar opened at Rs 81 (buying) and Rs 81.10 (selling) against same last rate. Further change was not observed in the evening session and it closed at Rs 81 (buying) and Rs 81.10 (selling). While, Pound Sterling opened at Rs 132 (buying) and Rs 133 (selling) against same overnight value. Further change was not observed in the second session as well and closed at Rs 132 (buying) and Rs 133 (selling).
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