The rupee moved both ways on the currency market on Monday in process of trading, dealers said. The rupee recovered five paisa against dollar for buying and selling at 85.80 and at 85.85, they said. In the first Asian trade dollar recouped some ground lost from a renewed focus on US quantitative easing, and was helped by short covering, while euro fell back towards channel support ahead of a meeting of European finance ministers.
INTERBANK MARKET RATES: The greenback pulled up off a three-week low against yen and two-weeks lows against euro set on Friday after disappointing US jobs data and a report that Federal Reserve Chairman Ben Bernanke did not rule out bond purchases beyond those planned. The comments, which were then aired on Monday, served as a reminder that the Fed's second round of quantitative easing, in which it plans to buy $600 billion in assets, remains a weight on the greenback, although the resulting easy liquidity is supportive of risk trades. Interbank buy-sell rates for taka against dollar on Monday: 70.54-70.55 (previous 70.52-70.52) Call Money Rates: 14.00-29.00 percent (previous 5.50-30.50 percent).
China's yuan ended up against dollar on Monday after the People's Bank of China set a higher mid-point in the wake of US dollar weakness.
Dealers said they expected yuan to move in a small range in coming days but could appreciate three to five percent next year after the Communist Party decided that China would shift to a prudent monetary policy from a moderately loose stance.
OPEN MARKET RATES: The rupee gave up firmness against dollar, shedding 15 paisa for buying at 85.75 and lost 10 paisa for selling at 85.90, they said. The rupee, however, gained 59 paisa versus euro for buying and selling at Rs 113.36 and Rs 113.86, they added.
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Open Buying Rs 85.75
Open Selling Rs 85.90
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Buying Rs.85.80
Selling Rs.85.85
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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 12.70 12.10 12.75 12.39
1-Week 11.50 12.40 12.40 12.50 12.20
2-Week 11.70 12.50 12.45 12.60 12.31
1-Month 11.85 12.80 12.80 12.85 12.58
2-Months 12.25 12.95 13.00 13.10 12.83
3-Months 12.40 13.00 13.00 13.20 12.90
4-Months 12.70 13.10 13.10 13.25 13.04
5-Months 12.75 13.20 13.20 13.35 13.13
6-Months 12.90 13.30 13.25 13.40 13.21
9-Months 13.10 13.40 13.30 13.60 13.35
1-Year 13.25 13.50 13.40 13.60 13.44
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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 12.70 12.10 12.75 12.39
1-Week 11.90 12.50 12.45 12.60 12.36
2-Week 12.10 12.75 12.60 12.80 12.56
1-Month 12.40 13.20 12.90 13.30 12.95
2-Months 12.50 13.40 13.20 13.50 13.15
3-Months 12.75 13.50 13.25 13.75 13.31
4-Months 12.80 13.50 13.30 13.75 13.34
5-Months 13.00 13.50 13.40 13.75 13.41
6-Months 13.10 13.60 13.40 13.90 13.50
9-Months 13.25 13.60 13.50 13.90 13.56
1-Year 13.25 13.75 13.60 14.00 13.65
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RUPEE IN LAHORE: The rupee remained unchanged against dollar at Lahore currency market on Monday. Moneychangers said that dollar was traded at Rs 85.50 and Rs 85.80 as buying and selling rates, respectively. However, the rupee recovered some of its earlier losses against British Pound. The pound was purchased and sold at Rs 133.50 and Rs 134.70 as compared to last Saturday's Rs 134.30 and Rs 135.50, respectively, moneychangers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar resumed trading at Rs 85.45 (buying) and Rs 85.60 (selling) against last rate of Rs 86.20 (buying) and Rs 86.30 (selling). It did not observe further change in the evening session and closed at Rs 85.45 (buying) and Rs 85.60 (selling).
Pound Sterling opened at Rs 136.20 (buying) and Rs 136.60 (selling) in the morning session. It did not observe further change in the last trading hours and closed at Rs 136.20 (buying) and Rs 136.60 (selling).
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