Volatile day of trading was witnessed in the Interbank Forex Market with the greenback having an edge over the Pak rupee during the day.
The "spot-market" opened with the greenback changing hands in the range of Rs 57.47 and Rs 57.49 as respective buying and selling rates.
Panic buying by a few banks in the market marginally eroded the value of the local currency as it shed 1.0 paisa each in bids and offer at Rs 57.48 and Rs 57.50.
However by the end of trading session, comfortable supply of the US dollar, the Pak rupee recovered by 2.0 paisa, concluding the day in the range of Rs 57.46 and Rs 57.48 as respective buying and selling rates.
In swap transactions, prices in all the tenures surged sharply. 1-month swap was dealt in the range of Par and 1.50 paisa.
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DAILY FOREX REPORT Monday (January 12, 2004)
SBP US $/PKR Parity: 46.00/.23
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US $/PKR Ready 1 Wk 1M 2M 3M 4M 5M R/6M
Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer
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Outright 57.46 57.48 57.46 57.48 57.47 57.49 57.45 57.47 57.44 57.47 57.44 57.48 57.44 57.48 57.50 57.46
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SWAP
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O/N R/1 WK R/1 M R/2 M R/3 M R/4 M R/5 M R/6 M
Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer
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Paisa 0.00 0.50 0.50 1.75 0.00 1.50 -2.00 0.00 -3.00 0.00 -3.00 1.00 -3.00 1.00 3.00 1.00
% Bid 1.00 4.18 1.45 2.59 1.00 1.32 0.79 1.00 0.79 1.00 0.84 1.05 0.87 1.04 1.11 1.04
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