Pressure of buying dollars pushed the rupee down on the currency market on Saturday, dealers said. On the interbank market, the rupee lost 8 paisa against dollar for buying and selling at 83.23 and 83.28, respectively, they said.
Money market analysts said that the rupee may not be able to stand up against the US currency due to high demand for dollars. In New York, the dollar fell against most major currencies after a weaker-than-expected jobs report and reinforced expectations that US interest rates will stay near zero for some time.
The US employers cut 263,000 jobs in September, far more than expected, while the unemployment rate rose to 9.8 percent. The data raised fears that the weak labour market could impede the economy's recovery from its worst recession in 70 years.
OPEN MARKET RATES: The rupee lost 5 paisa against dollar for buying and selling at 83.00 and 83.10, respectively, dealers said. The rupee also lost 25 paisa versus euro for buying and selling at Rs 120.30 and Rs 120.80, they said.
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Buying Rs 83.23
Selling Rs 83.28
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Saturday.
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Open Buying Rs 83.00
Open Selling Rs 83.10
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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 12.00 12.90 12.25 12.90 12.51
1-Week 12.10 12.30 12.25 12.35 12.25
2-Week 12.10 12.25 12.25 12.35 12.24
1-Month 12.15 12.30 12.30 12.40 12.29
2-Months 12.00 12.25 12.25 12.30 12.20
3-Months 12.00 12.25 12.25 12.35 12.21
4-Months 12.00 12.25 12.20 12.40 12.21
5-Months 12.00 12.30 12.20 12.40 12.23
6-Months 12.00 12.30 12.20 12.50 12.25
9-Months 12.10 12.35 12.30 12.50 12.31
1-Year 12.20 12.35 12.30 12.55 12.35
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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 12.00 12.90 12.25 12.90 12.51
1-Week 12.15 12.35 12.25 12.40 12.29
2-Week 12.15 12.35 12.25 12.40 12.29
1-Month 12.15 12.30 12.30 12.45 12.30
2-Months 12.20 12.35 12.30 12.45 12.33
3-Months 12.25 12.35 12.30 12.45 12.34
4-Months 12.25 12.45 12.30 12.50 12.38
5-Months 12.30 12.45 12.35 12.50 12.40
6-Months 12.45 12.60 12.50 12.65 12.55
9-Months 12.45 12.60 12.50 12.65 12.55
1-Year 12.45 12.65 12.50 12.70 12.58
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RUPEE IN LAHORE: The Pak rupee closed the week on a positive note, as it appreciated its worth by 5-paisa in relation to the greenback in the local kerb. According to the currency dealers, the dollar witnessed decline in its demand that pushed the local currency's value marginally up. The dollar was purchased and sold at Rs 82.70 and Rs 82.95 on buying and selling counters, respectively, as compared to Friday's closing rates of Rs 82.75 and Rs 83.00, the dealers said.
Likewise, the local currency appreciated its value in relation to the British pound. The pound was purchased and sold at Rs 132.75 and Rs 133.80 as compared to Thursday's closing rates of Rs 132.80 and Rs 133.80, respectively, moneychangers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the currency markets of Islamabad and Rawalpindi on Saturday. The dollar opened at Rs 82.60 (buying) and Rs 82.70 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 82.60 (buying) and Rs 82.70 (selling). Pound sterling opened at Rs 131.80 (buying) and Rs 132.80 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 131.80 (buying) and Rs 132.80 (selling).
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