All-round decline was seen on the local currency market on Tuesday in process of strong demand for dollars, dealers said. On the interbank market the rupee continued its sharp fall versus the greenback, losing 14 paisa for buying at 84.68 and it also fell by 15 paisa for selling at 84.72, they said.
During the second day of Asian trade dollar slipped against a basket of currencies as growing hopes for a global economic recovery encouraged investors to shift funds to riskier assets from the greenback. The dollar was also under pressure from fund mangers trying to rebuild their portfolios at the start of the year by buying stocks, commodities and higher-yielding currencies.
The US currency extended losses against yen, triggered by stop-loss orders below 92.10 yen and also below 92.00 yen, traders said. The fall in dollar/yen dragged down yen crosses, which succumbed to profit-taking, they said.
OPEN MARKET RATES: In sympathy with the interbank direction, the rupee dropped 20 paisa for buying and selling at 84.60 and 84.70, they added. The rupee also lost 85 paisa versus euro for buying and selling at Rs 121.10 and Rs 121.60, they said.
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Buying Rs 84.68
Selling Rs.84.72
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Open Buying Rs.84.60
Open Selling Rs.84.70
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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 10.25 11.50 10.60 11.75 11.03
1-Week 11.20 11.40 11.40 11.60 11.40
2-Week 11.40 11.70 11.60 11.80 11.63
1-Month 11.70 11.90 11.90 12.00 11.88
2-Months 11.85 12.00 12.00 12.10 11.99
3-Months 11.85 12.00 12.00 12.10 11.99
4-Months 11.85 12.00 12.00 12.10 11.99
5-Months 11.90 12.05 12.00 12.15 12.03
6-Months 11.90 12.10 12.10 12.20 12.08
9-Months 11.90 12.10 12.00 12.20 12.05
1-Year 11.90 12.10 12.10 12.20 12.08
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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 9.75 10.75 10.00 11.00 10.38
1-Week 11.25 11.50 11.50 11.75 11.50
2-Week 11.50 11.80 11.70 11.90 11.73
1-Month 11.75 12.10 11.90 12.20 11.99
2-Months 11.90 12.10 12.10 12.25 12.09
3-Months 12.00 12.25 12.15 12.30 12.18
4-Months 12.10 12.25 12.15 12.30 12.20
5-Months 12.10 12.30 12.20 12.35 12.24
6-Months 12.15 12.30 12.25 12.35 12.26
9-Months 12.15 12.40 12.35 12.45 12.34
1-Year 12.25 12.45 12.40 12.50 12.40
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RUPEE IN LAHORE: The rupee lost 10 paisa in relation to dollar in Lahore currency market on Tuesday. According to moneychangers, the dollar was traded at Rs 84.50 and Rs 84.70 on buying and selling counters, respectively, as compared to Monday's Rs 84.40 and Rs 84.60. On the other hand, the rupee improved its worth against pound, which was purchased and sold at Rs 135.00 and Rs 136.00 against Monday's Rs 135.50 and Rs 136.50, respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the currency markets of Islamabad and Rawalpindi on Tuesday. The dollar opened at Rs 84.20 (buying) and Rs 84.30 (selling) against same last rate. It did not observe further change in the last trading hours and closed at Rs 84.20 (buying) and Rs 84.30 (selling).
Pound sterling opened at Rs 135 (buying) and Rs 135.10 (selling) as compared to previous rate of Rs 133 (buying) and Rs 133.20 (selling). It did not observe any further change in the second session and closed at Rs 135 (buying) and Rs 135.10 (selling).
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