Bulls dominated the money market on Thursday as the rupee showed appreciation versus dollar and euro, dealers said. On the interbank market the rupee gained five paisa against dollar at 84.90 and 84.94 for buying and selling, they said. The State Bank of Pakistan (SBP) issued directive to the moneychangers to keep watch over the sharp fluctuations of the dollar rate, some experts said.
To ward off the speculative buying of dollar the central bank said that those, who are purchasing dollars up to the figure of 5000 dollars would not be required to show copy of Identity Card, they said. This move helped the rupee to recover some lost ground versus the dollar, they added.
In the fourth Asian session euro rose ahead of a key European Union summit that may shed light on a possible rescue package for Greece, while the Australian dollar surged as strong jobs data revived talk of a rate rise as early as March.
OPEN MARKET RATES: The rupee also picked up 20 paisa versus dollar for buying and selling at 86.30 and 86.50, dealers said. The rupee improved against euro, gaining 15 paisa for buying and selling at Rs 118.70 and 119.20, they added.
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Buying Rs 84.90
Selling Rs 84.94
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Open Buying Rs 86.30
Open Selling Rs 86.50
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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 12.35 12.10 12.40 12.21
1-Week 11.55 12.05 12.00 12.10 11.93
2-Week 11.60 12.00 12.00 12.10 11.93
1-Month 11.60 12.00 11.95 12.05 11.90
2-Months 11.70 11.90 11.95 12.05 11.90
3-Months 11.75 11.95 11.95 12.05 11.93
4-Months 11.80 12.00 12.00 12.10 11.98
5-Months 11.80 12.00 12.00 12.10 11.98
6-Months 11.80 12.00 12.00 12.10 11.98
9-Months 11.85 12.00 11.95 12.15 11.99
1-Year 11.90 12.00 12.00 12.10 12.00
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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 12.35 12.10 12.40 12.21
1-Week 11.70 12.10 12.00 12.20 12.00
2-Week 11.80 12.10 12.00 12.15 12.01
1-Month 11.80 12.10 12.00 12.15 12.01
2-Months 11.90 12.10 12.10 12.20 12.08
3-Months 11.90 12.20 12.10 12.25 12.11
4-Months 12.00 12.20 12.15 12.25 12.15
5-Months 12.00 12.25 12.10 12.30 12.16
6-Months 12.00 12.25 12.15 12.30 12.18
9-Months 12.10 12.25 12.20 12.30 12.21
1-Year 12.15 12.30 12.25 12.40 12.28
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RUPEE IN LAHORE: The Pak rupee showed strength and significantly improved by 80-paisa on buying side and 60-paisa on selling side in relation to the greenback in the local currency market on Thursday.
According to the currency dealers, the dollar could not sustain and remained under pressure throughout the day. The dollar kept on declining and closed lower at Rs 86.00 and Rs 86.50, as its buying and selling rates against the Wednesday closing of Rs 86.80 and Rs 87.10, respectively, the dealers said.
Similarly, the rupee also recovered its earlier loss and appreciated against the British pound. The pound was traded at Rs 135.00 and Rs 136.00 on buying and selling sides, as compared to overnight closing of Rs 136.50 and Rs 137.50, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 86.50 (buying) and Rs 86.60 (selling) against the last rate. It did not observe further change in the second spell and closed at Rs 86.50 (buying) and Rs 86.60 (selling).
Pound Sterling opened at Rs 135.00 (buying) and Rs 136.00 (selling) against the last rate. It did not observe further fluctuation by the end of evening session and closed at Rs 135.00 (buying) and Rs 136.00 (selling).
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