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Rising demand for dollars, pressurised the rupee to look back versus the US currency on the local currency market on Friday, money market-men said. The rupee also failed to recover its gains in relation to euro as the single European currency is now started coming out of wood after making gains against world major currencies, some exports said.
On the interbank market, the rupee continued its fall versus dollar, losing five paisa for buying at 84.50 and dropping six paisa at 84.55 for selling due to strong demand for dollars, they said.
In the final session of Asia euro surged for a third straight day as market players unwound more short positions in the single currency, while the battered Australian dollar jumped on a wave of buying by investors and Japanese retail traders.
Malaysian ringgit was at 3.3160 versus dollar and Chinese yuan was trading at 6.8275 per dollars. The Indian rupee fell to its lowest in six-and-a-half months early on Friday, weighed down by lower domestic shares and weaker Asian currencies.
At 9:07 am (0337 GMT), the partially convertible rupee was at 47.10/14 per dollar after hitting 47.12, its weakest since November 5, 2009. It had closed at 46.81/82 on Thursday.
OPEN MARKET RATES: The rupee shed five paisa against dollar for buying and selling at 84.45 and 84.60, dealers said.
The rupee lost sharply in terms of euro, shedding Rs 1.30 for buying and selling at Rs 105.25 and Rs 105.75, they added.



==============================
Buying Rs 84.50
Selling Rs 84.55
==============================

Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.



==============================
Buying Rs 84.45
Selling Rs 84.60
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 10.00 11.80 10.25 12.00 11.01
1-Week 10.50 11.75 11.20 11.80 11.31
2-Week 10.90 11.70 11.40 11.90 11.48
1-Month 11.15 11.80 11.60 11.90 11.61
2-Months 11.35 11.80 11.80 11.90 11.71
3-Months 11.50 11.80 11.75 11.90 11.74
4-Months 11.65 11.90 11.80 12.00 11.84
5-Months 11.75 11.90 11.85 12.00 11.88
6-Months 11.80 11.90 11.95 12.05 11.93
9-Months 11.90 12.10 12.10 12.15 12.06
1-Year 12.00 12.10 12.10 12.20 12.10
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 10.00 11.90 10.25 12.00 11.04
1-Week 11.00 11.80 11.30 11.90 11.50
2-Week 11.50 11.90 11.60 12.00 11.75
1-Month 11.60 11.90 11.75 12.10 11.84
2-Months 11.75 12.10 12.10 12.25 12.05
3-Months 12.00 12.15 12.10 12.25 12.13
4-Months 12.00 12.20 12.15 12.25 12.15
5-Months 12.00 12.25 12.15 12.30 12.18
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
=================================================================

RUPEE IN LAHORE: The rupee depreciated its worth by 5-paisa on buying side (Rs 84.35) while remained unchanged on selling side (Rs 84.45) in relation to the greenback in the local currency markets on Friday.
According to the currency dealers, the greenback opened at Rs 84.30 (buying) and Rs 84.45 (selling) against same overnight value. In view of increased demand of the greenback, the local currency lost 5-paisa on buying side and closed at Rs 84.35 while remained unchanged on selling side at Rs 84.45, the dealers said.
Pound Sterling opened at Rs 123.00 (buying) and Rs 124.50 (selling) against same previous rate. The British pound did not observe any change and closed at Rs 123.00 (buying) and Rs 124.50 (selling), the dealers added.
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 83.80 (buying) and Rs 84.20 (selling) against the same overnight value. It did not observe further change in the last trading hours and closed at Rs 83.80 (buying) and Rs 84.20 (selling).
Pound Sterling opened at Rs 126.50 (buying) and Rs 127.40 (selling) against the same previous rate. It did not observe further change in evening session and closed at Rs 126.50 (buying) and Rs 127.40 (selling).
Copyright Business Recorder, 2010

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