Steady trend was seen on the money market on Thursday as the rupee retained its levels in relation to dollar, dealers said. The rupee maintained its overnight levels in terms of dollar for buying and selling at 84.50 and 84.55, they said. In the fourth Asian trade dollar sank to a three-year low against a basket of currencies on Thursday and was at risk of a drop to $1.50 versus euro, with momentum-driven investors piling on in anticipation US interest rates will be low for a long time.
INTERBANK MARKET RATES: The dollar slid across the board, with the Australian dollar bulldozing previous highs to a 29-year peak above $1.0900. Both euro and sterling scaled 17-month highs and Singapore dollar hit yet another record high. Indian rupee was available at Rs 44.32 versus dollar, Malaysian ringgit was trading at 2.9610 in terms of the US currency and Chinese yuan was at 6.5018 in relation to the greenback.
OPEN MARKET RATES: The rupee retained the overnight levels against dollar for the second day for buying and selling at 84.40 and 84.60, they added. Meanwhile, the rupee extended slide versus euro, falling Rs 1.14 for buying and selling at Rs 124.75 and Rs 125.25, they said.
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Open Buying Rs 84.40
Open Selling Rs 84.60
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Buying Rs.84.50
Selling Rs.84.55
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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 11.25 13.05 11.50 13.10 12.23
1-Week 11.40 12.60 12.50 12.65 12.29
2-Week 11.60 12.65 12.60 12.70 12.39
1-Month 11.75 12.80 12.80 12.85 12.55
2-Months 12.40 13.10 13.00 13.15 12.91
3-Months 12.90 13.15 13.15 13.20 13.10
4-Months 13.00 13.25 13.30 13.35 13.23
5-Months 13.20 13.35 13.35 13.40 13.33
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 11.25 13.10 11.50 13.20 12.26
1-Week 12.00 12.65 12.50 12.70 12.46
2-Week 12.20 12.70 12.60 12.75 12.56
1-Month 12.50 12.85 12.75 12.95 12.76
2-Months 13.00 13.20 13.20 13.30 13.18
3-Months 13.10 13.30 13.30 13.40 13.28
4-Months 13.25 13.50 13.40 13.60 13.44
5-Months 13.40 13.60 13.45 13.65 13.53
6-Months 13.45 13.65 13.55 13.75 13.60
9-Months 13.50 13.70 13.60 13.75 13.64
1-Year 13.50 13.75 13.60 13.90 13.69
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RUPEE IN LAHORE: The Pak rupee showed strength and appreciated its worth by 15-paisa against the dollar in the local currency market on Thursday.
According to the currency dealers, the dollar remained under selling pressure that helped rupee recovery in the open market. At the end of trading, the dollar was closed lower at Rs 84.35 and Rs 84.55, as its buying and selling rates against the Wednesday closing of Rs 84.50 and Rs 84.70, respectively.
However, because of continued demand for the British pound, the rupee maintained downward slide and further declined against the pound sterling. The pound's buying and selling rates were increased from overnight closing of Rs 139.15 and Rs 139.65 to Rs 139.80 and Rs 140.70, respectively, the 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 Thursday.
The dollar resumed trading at Rs 84.80 (buying) and Rs 85.20 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 84.80 (buying) and Rs 85.20 (selling).
Pound Sterling opened at Rs 136.15 (buying) and Rs 137.15 (selling) against same previous rate. It did not witness any change in the evening session and closed at Rs 136.15 (buying) and Rs 137.15 (selling).
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