Stability prevailed in the Interbank Forex Market with the rupee/dollar parity fluctuating in a narrow range of Rs 2.0to 3.0 paisa during the day.
The "spot-market" opened with the greenback changing hands in the range of Rs 57.39 and Rs 57.41 as respective buying and selling rates.
Scattered demand for the greenback marginally pushed the dollar rates up as the US dollar was dealt in the vicinity Rs 57.40/dollar level.
However by the end of the trading session, the Pak rupee recovered by 2.0 paisa in bid and 1.0 paisa in offer at Rs 57.38 and Rs 57.40 as respective buying and selling rates.
In swap transactions, prices in all the tenures remained stable. 1-week swap was dealt in the range of 1.0 pasia and 2.0 pasia.
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DAILY FOREX REPORT Friday (January 16, 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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Oupright 57.38 57.40 57.38 57.40 57.39 57.41 57.39 57.41 57.39 57.41 57.39 57.41 57.40 57.42 57.41 57.43
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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 0.50 1.50 1.00 2.00 0.00 2.00 0.00 2.00 0.00 2.00 0.00 2.00 1.00 3.00 2.00 4.00
% Bid 1.79 3.38 1.91 2.82 1.00 1.42 1.00 1.21 1.00 1.14 1.00 1.11 1.04 1.13 1.07 1.14
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