Dearth of dollars made the rupee unable to resist further slide against the greenback on the open market as the local currency is going to touch the new low at 86 at any time, currency viewers said. On the open market the rupee shed five paisa against dollar for buying at 85.60 and lost 15 paisa for selling at 85.80, they said.
It appeared that the weak economic indicators and panic buying of dollars were dragging the rupee to face free-fall in its value in terms of the greenback, they added. The rupee also gave up firmness versus euro, losing 50 paisa for buying and selling at Rs 120.45 and Rs 120.95, dealers said.
On the interbank market the rupee retained its level in relation to dollar for buying and selling at 84.50 and 84.55, they said. In the final Asian trade, the yen surged against dollar and euro as a break of key support triggered stop-loss sales, while risk appetite lessened due to the White House's proposals to regulate US banks. The euro tumbled to a nine-month low of 126.55 yen after breaching a long-held chart support at 127.00 yen, taking the dollar down with it to its weakest in a month.
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Buying Rs 84.50
Selling Rs 84.55
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Open Buying Rs 85.60
Open Sellin Rs 85.80
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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 9.50 10.50 9.55 10.75 10.08
1-Week 10.90 11.50 11.50 11.75 11.41
2-Week 11.25 11.70 11.60 11.90 11.61
1-Month 11.55 11.90 11.80 11.95 11.80
2-Months 11.70 11.90 11.90 12.00 11.88
3-Months 11.75 11.95 11.95 12.05 11.93
4-Months 11.85 12.00 12.00 12.10 11.99
5-Months 11.85 12.00 12.00 12.10 11.99
6-Months 11.90 12.05 12.05 12.15 12.04
9-Months 11.90 12.05 12.05 12.15 12.04
1-Year 11.95 12.05 12.05 12.15 12.05
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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 9.50 10.50 9.60 10.75 10.09
1-Week 11.25 11.75 11.70 11.90 11.65
2-Week 11.40 12.00 11.90 12.10 11.85
1-Month 11.65 12.10 12.00 12.20 11.99
2-Months 11.90 12.15 12.10 12.25 12.10
3-Months 12.00 12.25 12.15 12.30 12.18
4-Months 12.15 12.25 12.20 12.30 12.23
5-Months 12.15 12.30 12.20 12.35 12.25
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 greenback remained firm against the Pak rupee at the open currency market of Lahore on Friday. The dollar opened at Rs 85.75 (buying) and Rs 86.05 (selling) against Thursday's closing rates of Rs 85.70 and Rs 86.00. In the absence of fresh buyers, the dollar moved down and closed at Rs 85.75 (buying) and Rs 86.00 (selling).
According to the currency dealers, the dollar is firm in the local kerb due to increased demand. The British pound also appreciated its value against the local currency. Pound Sterling was purchased and sold at Rs 138.25 and Rs 138.70, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Friday. The dollar opened at Rs 85.45 (buying) and Rs 85.55 (selling) against the overnight value. It did not observe further change in the evening session and closed at Rs 85.45 (buying) and Rs 85.55 (selling).
Pound Sterling opened at Rs 138.00 (buying) and Rs 138.10 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 138.00 (buying) and Rs 138.10 (selling).
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