All-round gains were seen on the currency market on Tuesday as the rupee appreciated versus dollar and euro, dealers said. The rupee gained 12 paisa in relation to dollar for buying at 85.26 and picked up 11 paisa for selling at 85.31, they said.
INTERBANK MARKET RATES: In the second Asian trade euro hovered below a five-month high against dollar as investors assessed whether it can make fresh gains given that market players have already positioned themselves for a series of interest rate hikes in the euro zone during 2011. The European Central Bank is expected to raise rates by a quarter point from a record low of one percent at a meeting on Thursday to rein in inflationary pressures, with two more 25 basis point hikes priced in by year-end.
But the single currency has already risen more than six percent against dollar and more than 10 percent versus yen this year, making investors reluctant to buy more ahead of the meeting this week.
Indian rupee was trading at Rs 44.59 versus dollar, Malaysian ringgit was available at 3.0245 in terms of the greenback and Chinese yuan was trading at 6.5477 versus the US currency. Interbank buy/sell rates for taka against dollar on Monday: 72.79/72.81 (previous 72.80/72.80). Call Money Rates: 4.00-6.00 percent (previous 4.00-8.50 percent).
OPEN MARKET RATES: The rupee gained five paisa in relation to dollar for buying and selling at 85.15 and 85.35, they added. The rupee followed the same print versus euro, gaining 30 paisa for buying and selling at Rs 120.44 and Rs 120.94, they said.
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Open Buying Rs 85.15
Open Selling Rs.85.35
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Buying Rs.85.26
Selling Rs.85.31
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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 13.25 13.90 13.50 13.90 13.64
1-Week 11.50 13.35 13.35 13.40 12.90
2-Week 11.60 13.25 13.25 13.30 12.85
1-Month 11.90 13.25 13.25 13.30 12.93
2-Months 12.40 13.25 13.25 13.35 13.06
3-Months 12.90 13.25 13.30 13.40 13.21
4-Months 13.00 13.30 13.30 13.45 13.26
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 13.25 13.90 13.50 13.95 13.65
1-Week 12.30 13.50 13.50 13.60 13.23
2-Week 12.40 13.40 13.35 13.50 13.16
1-Month 12.70 13.40 13.35 13.50 13.24
2-Months 13.00 13.45 13.35 13.50 13.33
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-dollar parity was unchanged amid low trading at Lahore currency market on Tuesday. According to dealers, the dollar was traded at overnight rates of Rs 85.10 and Rs 85.30 on buying and selling sides, respectively. However, the rupee remained under pressure against pound sterling whose buying and selling rates improved to Rs 137.60 and Rs 138.10 respectively from Monday's Rs 137.00 and Rs 137.70, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained unchanged against the rupee at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar resumed trading at Rs 85.30 (buying) and Rs 85.40 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 85.30 (buying) and Rs 85.40 (selling).
Pound Sterling opened at Rs 136.40 (buying) and Rs 137.50 (selling) against the previous rate. It did not witness any change in the evening session and closed at Rs 136.40 (buying) and Rs 137.50 (selling).
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