Persisting demand for dollars, in process of trading pushed the rupee lower on the currency market at the week-end, dealers said. The rupee shed four paisa in relation to the greenback for buying and selling at 86.18 and 86.20, they said.
INTERBANK MARKET RATES: At the weekend euro slipped against dollar as investors focused on how the second rescue package for Greece and measures to stop the European debt crisis from spreading will be implemented. The euro hit a two-week high of $1.4440 on electronic trading platform EBS in early global trading but further gains were seen as limited. Analysts highlighted the risks to the deal being implemented quickly and questions over long-term debt sustainability.
"What you saw yesterday was a relief rally as the initial numbers that came out were better than expected," said John Doyle, strategist at Tempus Consulting in Washington. "Now we're looking for details on how effective the plan might actually be."
The euro was last at $1.4368, down 0.4 percent on the day after jumping nearly 1.5 percent on Thursday. Despite easing on Friday, it was on track for its first weekly gain against dollar since the trading week ended on July 1.
OPEN MARKET RATES: The rupee did not move any side against dollar for buying at 86.00 and it gained 10 paisa for selling at 86.10, they added. The rupee managed to gain 51 paisa versus the euro for buying at Rs 123.26 and Rs 123.76, they said.
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Open Buying Rs 86.00
Open Selling Rs 86.10
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Saturday.
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Buying Rs 86.18
Selling Rs.86.20
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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 13.50 13.90 13.60 13.90 13.73
1-Week 12.90 13.55 13.50 13.60 13.39
2-Week 13.00 13.50 13.45 13.55 13.38
1-Month 13.00 13.45 13.45 13.55 13.36
2-Months 13.10 13.45 13.45 13.50 13.38
3-Months 13.15 13.45 13.45 13.50 13.39
4-Months 13.15 13.45 13.50 13.55 13.41
5-Months 13.20 13.50 13.50 13.60 13.45
6-Months 13.25 13.55 13.50 13.60 13.48
9-Months 13.30 13.65 13.65 13.75 13.59
1-Year 13.40 13.65 13.65 13.75 13.61
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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 13.50 13.90 13.60 13.90 13.73
1-Week 13.00 13.60 13.60 13.65 13.46
2-Week 13.10 13.55 13.50 13.60 13.44
1-Month 13.15 13.55 13.50 13.55 13.44
2-Months 13.15 13.50 13.50 13.55 13.43
3-Months 13.20 13.50 13.50 13.60 13.45
4-Months 13.20 13.50 13.50 13.65 13.46
5-Months 13.25 13.55 13.50 13.65 13.49
6-Months 13.30 13.60 13.50 13.65 13.51
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 rupee gained 10 paisa in relation to dollar at Lahore currency market on Saturday.
According to dealers, the dollar resumed trading at its overnight Rs 86.00 and Rs 86.20 for buying and selling, but closed at Rs 85.90 and Rs 86.10 for buying and selling, respectively.
On the contrary, the rupee maintained downward slide and further declined against pound sterling. The pound was purchased and sold at Rs 139.50 and Rs 140.20 as compared to previous closing of Rs 139.50 and Rs 140.00, respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the currency markets of Islamabad and Rawalpindi on Saturday.
The dollar opened at Rs 86.00 (buying) and Rs 86.25 (selling) against same last rates. It did not observe further change in the second session and closed at Rs 86.00 (buying) and Rs 86.25 (selling).
Pound sterling opened at Rs 138.30 (buying) and Rs 138.45 (selling) against same overnight values. It did not observe further change in the last trading hours and closed at Rs 138.30 (buying) and Rs 138.45 (selling).
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