Firmness prevailed on the currency market on Friday as the rupee showed modest recovery against dollar in process of trading, dealers said. The rupee managed to gain six paisa against dollar for buying at 58.34 and rose by five paisa for selling at 85.38, they said.
In the final Asian trade yen tumbled more than 3 percent after Group of Seven finance ministers agreed to immediately and jointly intervene against the Japanese currency's surge to a record peak, with Bank of Japan buying pushing the dollar above 81 yen.
INTERBANK MARKET RATES: Japanese Finance Minister Yoshihiko Noda said Japan agreed with central banks of the United States, Britain and Canada as well as the European Central Bank to jointly intervene in the currency market. Markets were caught off guard by the first joint action in over a decade, expecting Japan to act alone.
Indian rupee was trading at Rs 45.18 versus the dollar, Malaysian ringgit was available at 3.0440 and Chinese yuan was at 6.5707 in terms of the greenback.
OPEN MARKET RATES: The rupee held it overnight levels versus dollar for buying at 85.40 and selling at 85.55, they added. Meanwhile, the rupee fell sharply in terms of euro, shedding 82 paisa for buying and selling at Rs 119.99 and Rs 120.49, they said.
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Open Buying Rs 85.34
Open Selling Rs 85.38
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Buying Rs 85.40
Selling Rs 85.55
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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 13.00 13.90 13.25 13.90 13.51
1-Week 12.25 13.15 13.00 13.20 12.90
2-Week 12.30 13.10 13.00 13.15 12.89
1-Month 12.20 13.05 13.00 13.10 12.84
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 13.10 13.90 13.40 13.95 13.59
1-Week 12.30 13.20 13.15 13.30 12.99
2-Week 12.40 13.20 13.15 13.30 13.01
1-Month 12.70 13.30 13.10 13.40 13.13
2-Months 13.00 13.40 13.30 13.50 13.30
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 Pak rupee remained under pressure and further declined by five-paisa on buying side, while it remained unchanged on selling side in relation to the greenback in the partially opened market on Friday.
According to the currency dealers, it was a dull trading day, while a number of money exchanges remained closed on account of protest against the release of Raymond Davis. The currency exchanges located on the Shahra-e-Quaid-e-Azam remained closed. However, some exchanges situated in other parts of the city continued their business as usual but witnessed lackluster situation.
The dollar was marginally improved on buying side but showed stability on selling side. The dollar was traded at Rs 85.40 and Rs 85.60 against the overnight closing of Rs 85.35 and Rs 85.60, respectively.
The rupee also showed stability and remained unchanged against the pound sterling. The pound was purchased and sold at Thursday closing of Rs 137.10 and Rs 137.80, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar resumed trading at Rs 85.20 (buying) and Rs 85.30 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 85.20 (buying) and Rs 85.30 (selling).
Pound Sterling opened at Rs 136.50 (buying) and Rs 137.50 (selling) against the previous rate. It did not witness any change in the evening session and closed at Rs 136.50 (buying) and Rs 137.50 (selling).
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