Falling trend persisted on the interbank market on Wednesday as the rupee drifted lower by five paisa in terms of dollar for buying and selling at 81.05 and 81.10, dealers said. Persisting demand for dollars is the main factor, which is continuously keeping the rupee under pressure, they said.
The rupee is shedding its lustre on the interbank market versus dollar and it may expand its decline till the end of fiscal year 2008-09, they said. Amid third Asian trade dollar was steady against a basket of currencies after sliding the previous day when investors questioned whether the economy had improved enough to justify talk of a Federal Reserve rate hike by the year-end. The dollar rose against yen as traders cited regional players actively covering short positions with Asian shares extending gains in early afternoon trade.
OPEN MARKET RATES: The rupee shed five paisa against the dollar for buying and selling at 80.95 and 81.15, they said. The rupee gave up overnight firmness versus euro dropping Rs 1.60 to Rs 113.10 and Rs 114.10, they said.
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Open Buying Rs 80.95
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 81.05
Selling Rs 81.10
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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 4.50 10.00 5.00 10.50 7.50
1-Week 10.25 11.25 11.50 11.75 11.19
2-Week 11.00 12.00 12.00 12.50 11.88
1-Month 12.00 12.50 12.75 13.00 12.56
2-Months 12.25 13.00 13.20 13.30 12.94
3-Months 12.30 13.00 13.20 13.30 12.95
4-Months 12.30 13.15 13.20 13.30 12.99
5-Months 12.30 13.15 13.10 13.30 12.96
6-Months 12.35 13.20 13.20 13.30 13.01
9-Months 12.75 13.20 13.25 13.30 13.13
1-Year 12.75 13.25 13.25 13.30 13.14
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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 5.50 10.00 6.00 10.50 8.00
1-Week 11.25 12.00 11.75 12.25 11.81
2-Week 11.75 12.50 12.25 12.75 12.31
1-Month 13.00 13.25 13.50 14.00 13.44
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 declined by 10 paisa on buying side and five-paisa on selling side against dolar in Lahore currency market on Wednesday. The dollar closed higher at Rs 81.00 and Rs 81.25 as compared to overnight Rs 80.90 and Rs 81.20 on buying and selling counters, respectively, moneychangers said. Similarly, the rupee depreciated against pound sterling, whose buying and selling rates improved to Rs 131.00 and Rs 132.50 against Tuesday's Rs 128.00 and Rs 129.50, respectively, moneychangers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee at the currency markets of Islamabad and Rawalpindi here on Wednesday. The dollar opened at Rs 80.90 (buying) and Rs 81 (selling) against same last rates. It did not observe further change in the evening session and closed at Rs 80.90 (buying) and Rs 81 (selling). Pound sterling opened at Rs 128 (buying) and Rs 129 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 128 (buying) and Rs 129 (selling).
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