All-round slide was seen on the currency market on Thursday as the rupee dropped sharply against dollar and euro, experts said. The rupee lost 19 paisa in relation to dollar for buying at 85.37 and it fell by 20 paisa for selling at 85.42, they said.
INTERBANK MARKET RATES: In the fourth Asian session euro edged lower against US dollar, with further pullbacks seen likely, as worries about how Europe will address its fiscal problems offset expectations of an upcoming rate hike by the European Central Bank. Technical strategists said euro's consolidation from Monday's four-month peak at $1.4036 is still in progress and a deeper retreat cannot be ruled out. However, strong support is expected from the near-term rising trend line, around $1.3810, which should contain euro's fall. Indian rupee was trading at Rs 45.00 versus dollar, Malaysian ringgit was available at 3.0325 and Chinese yuan was at 6.5704 in terms of the greenback.
OPEN MARKET RATES: The rupee followed the same pattern against dollar in the open market, losing 25 paisa for buying and selling at 85.25 and 85.45, they added. The rupee also fell versus euro, dropping 66 paisa for buying and selling at Rs 118.01 and Rs 118.51, they said.
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Open Buying Rs 85.25
Open Selling Rs.85.45
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Buying Rs.85.37
Selling Rs.85.42
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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 12.75 13.15 12.80 13.25 12.99
1-Week 12.25 12.90 12.85 12.95 12.74
2-Week 12.25 12.90 12.90 13.00 12.76
1-Month 12.40 12.95 12.90 13.00 12.81
2-Months 12.50 13.15 13.15 13.25 13.01
3-Months 12.50 13.20 13.20 13.30 13.05
4-Months 13.00 13.30 13.25 13.35 13.23
5-Months 13.20 13.45 13.40 13.50 13.39
6-Months 13.35 13.50 13.45 13.55 13.46
9-Months 13.40 13.60 13.50 13.65 13.54
1-Year 13.45 13.60 13.55 13.65 13.56
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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 12.75 13.20 12.85 13.30 13.03
1-Week 12.30 13.00 12.95 13.10 12.84
2-Week 12.40 13.00 13.00 13.15 12.89
1-Month 12.60 13.15 13.00 13.25 13.00
2-Months 12.90 13.40 13.30 13.50 13.28
3-Months 13.10 13.60 13.40 13.70 13.45
4-Months 13.25 13.65 13.45 13.75 13.53
5-Months 13.40 13.70 13.50 13.75 13.59
6-Months 13.50 13.75 13.70 13.90 13.71
9-Months 13.60 13.80 13.75 13.95 13.78
1-Year 13.50 13.90 13.80 14.00 13.80
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RUPEE IN LAHORE: The rupee remained under pressure and lost 10-paisa on buying side and 15-paisa on selling side against the US dollar in the local currency market on Thursday.
According to the currency dealers, because of increase in the dollar's demand, its rate moved up and ended higher at Rs 85.20 and Rs 85.50 as compared to last day closing of Rs 85.10 and Rs 85.35 as its buying and selling rates, respectively.
However, the rupee showed recovery and improved against the British pound that remained under selling pressure. The pound was purchased and sold at Rs 137.00 and Rs 138.00 against the overnight closing of Rs 137.50 and Rs 138.50, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar-rupee parity remained unchanged at the currency exchange establishments of Islamabad and Rawalpindi here on Thursday.
The dollar resumed trading at Rs 85.95 (buying) and Rs 86.20 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 85.95 (buying) and Rs 86.20 (selling).
Pound Sterling opened at Rs 136.30 (buying) and Rs 136.75 (selling) against same previous rate. It did not witness any change in the evening session and closed at Rs 136.30 (buying) and Rs 136.75 (selling).
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