Downward trend was seen the currency market on Saturday as the rupee shed some gains versus dollar in process of trading, dealers said. On the interbank market the rupee shed five paisa at 83.25 and 83.30 versus dollar for buying and selling, they said. In the New York dollar rose broadly on after Federal Reserve Chairman Ben Bernanke said that the central bank will be ready to tighten monetary policy as an economic recovery takes hold.
The US dollar, which slid for much of the week, recovered some losses against euro and pulled away from a more than eight-month low against yen earlier in the week. Despite Friday's gains, the greenback remained lower against a basket of currencies for the week.
OPEN MARKET RATES: The rupee did not show any change against dollar for buying at 83.05 while it gained five paisa for selling at 83.15, dealers said. The rupee managed to gain 15 paisa against euro for buying and selling at Rs 121.75 and Rs 122.25, they said.
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Buying Rs 83.25
Selling Rs 83.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Saturday.
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Open Buying Rs 83.05
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 12.40 12.25 12.60 12.31
1-Week 12.20 12.30 12.30 12.40 12.30
2-Week 12.20 12.30 12.30 12.40 12.30
1-Month 12.10 12.30 12.30 12.35 12.26
2-Months 12.00 12.25 12.25 12.35 12.21
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 12.30 12.50 12.50 12.75 12.51
1-Week 12.25 12.40 12.35 12.50 12.38
2-Week 12.25 12.40 12.40 12.50 12.39
1-Month 12.20 12.40 12.40 12.55 12.39
2-Months 12.20 12.35 12.45 12.60 12.40
3-Months 12.25 12.35 12.45 12.60 12.41
4-Months 12.25 12.45 12.50 12.60 12.45
5-Months 12.30 12.45 12.50 12.65 12.48
6-Months 12.45 12.60 12.55 12.65 12.56
9-Months 12.45 12.60 12.55 12.70 12.58
1-Year 12.45 12.65 12.60 12.70 12.60
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RUPEE IN LAHORE: The Pak rupee failed to maintain upward slide and remained under pressure against the greenback. The rupee lost its value by 20-paisa amid fresh buying in the local currency market on Saturday. As soon as the trading commenced, the dollar started rising following fresh demand that kept the local currency under pressure. According to the currency dealers, the dollar was ended at Rs 83.20 and Rs 83.40 against the Friday closing of Rs 83.00 and Rs 83.20 on buying and selling sides, respectively, the dealers said.
However, the rupee maintained rising trend and further improved against the pound sterling. The pound was slide down to Rs 132.30 and Rs 133.30, as compared to overnight closing of Rs 132.50 and Rs 133.50 on buying and selling counters, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Saturday. The dollar opened at Rs 82.70 (buying) and Rs 82.80 (selling) against the overnight value. It did not observe further change in the evening session and closed at Rs 82.70 (buying) and Rs 82.80 (selling). Pound Sterling opened at Rs 129.90 (buying) and Rs 130.90 (selling) against the last rate of Rs 131.40 (buying) and Rs 132.40 (selling). It did not observe further change in the evening session and closed at Rs 129.90 (buying) and Rs 130.90 (selling).
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