The dollar crossed the high mark at Rs 86 on the currency market on Tuesday due to rising demand for the greenback, dealers said. The rupee after maintaining a stable trend for a long time, fell sharply versus dollar, losing 17 paisa for buying at 86.01 and lost 18 paisa for selling at 86.06, they said.
INTERBANK MARKET RATES: Buying of dollars kept the rupee under pressure versus the greenback but it looks that the rupee may reverse back its losses on expectations of high remittances, money experts said. In the second Asian trade euro fell from a three-week peak against dollar hit the previous day, as rekindled worries about the European banking sector prompted investors to cut risks.
The euro fell 0.6 percent on the day to $1.2797 after triggering stop-loss orders in the $1.2850-60 area, as a Wall Street Journal report stoked fears about the viability of European banks by highlighting the weakness of euro zone stress tests earlier in the year.
Indian rupee was trading at Rs 46.54 versus dollar, Malaysian ringgit was available at 3.1210 in relation to dollar and Chinese yuan was at 6.7880 in terms of the greenback.
OPEN MARKET RATES: The rupee retained overnight level against dollar for buying at 85.20 while it shed five paisa at 85.40 for selling, they said. The rupee appreciated by Rs 1.20 in terms of euro for buying and selling at Rs 107.90 and Rs 108.40, they added.
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Open Buying Rs 85.20
Open Selling Rs 85.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Buying Rs 86.01
Selling Rs 86.06
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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 12.20 12.90 12.40 12.90 12.60
1-Week 11.60 12.40 12.30 12.50 12.20
2-Week 11.65 12.40 12.35 12.45 12.21
1-Month 11.70 12.40 12.40 12.45 12.24
2-Months 11.85 12.45 12.35 12.50 12.29
3-Months 12.00 12.45 12.40 12.50 12.34
4-Months 12.10 12.45 12.40 12.50 12.36
5-Months 12.10 12.45 12.40 12.55 12.38
6-Months 12.25 12.50 12.45 12.60 12.45
9-Months 12.25 12.50 12.45 12.65 12.46
1-Year 12.30 12.60 12.50 12.70 12.53
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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 12.25 12.90 12.50 12.95 12.65
1-Week 11.75 12.50 12.35 12.60 12.30
2-Week 11.90 12.50 12.35 12.60 12.34
1-Month 12.10 12.50 12.40 12.60 12.40
2-Months 12.25 12.70 12.60 12.75 12.58
3-Months 12.30 12.75 12.70 12.90 12.66
4-Months 12.30 12.90 12.70 13.00 12.73
5-Months 12.35 13.00 12.70 13.10 12.79
6-Months 12.40 13.10 12.80 13.25 12.89
9-Months 12.50 13.20 12.80 13.30 12.95
1-Year 12.60 13.25 12.80 13.35 13.00
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RUPEE IN LAHORE: The Pak rupee failed to maintain its day earlier position and lost 10-paisa against the dollar in the open market on Tuesday.
According to the currency dealers, the dollar witnessed fresh demand that helped its appreciation against the local currency in the open market. At the end of trading, the dollar was closed higher at Rs 85.30 and Rs 85.60, as its buying and selling rates against the overnight closing of Rs 85.20 and Rs 85.50, respectively, the dealers said.
However, the rupee maintained upward slide for the second day and further improved against the pound sterling. The pound's buying and selling rates further decreased to Rs 130.00 and Rs 131.00, as compared to Monday closing of Rs 130.50 and Rs 131.50, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 84.80 (buying) and Rs 85.30 (selling) against the last rate of Rs 84.80 (buying) and Rs 85.30 (selling). It did not observe further change in the evening session and closed at Rs 84.80 (buying) and Rs 85.30 (selling).
Pound Sterling opened at Rs 128.16 (buying) and Rs 132.02 (selling) against the previous rate of Rs 128.78 (buying) and Rs 132.45 (selling). It did not observe further change in the last trading hours and closed at Rs 128.16 (buying) and Rs 132.02 (selling).
UAE Dirham opened at Rs 22.88 (buying) and Rs 23.37 (selling) in the morning session against the last rate Rs 22.88 (buying) and Rs 23.34 (selling). The value of Dirham against the rupee remained unchanged in evening session and closed at Rs 22.88 (buying) and Rs 23.37 (selling).
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