The greenback dominated the Interbank Forex Market as it picked up 4.0 to 5.0 paisa more versus the Pak rupee during the day.
The "spot market" opened with the US dollar changing hands in the range of Rs 57.37 and Rs 57.39 as respective buying and selling rates. Panic buying by some market participants eroded the value of the Pak rupee by 2.0 paisa each in bid and offer at Rs 57.39 and Rs 57.41. By the end of trading session, due to relentless buying activity the local currency shed further 2.0 paisa versus the US dollar, closing the day in the range of Rs 57.41 and Rs 57.43 as respective buying and selling rates.
In swap transactions, prices in all the tenures remained mostly stable. 1-month swap was dealt in the range of -7.0 paisa and -4.0 paisa.
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DAILY FOREX REPORT Friday (January 30, 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 57.41 57.43 57.41 57.43 57.35 57.38 57.35 57.37 57.34 57.37 57.34 57.37 57.33 57.37 57.32 57.37
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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 0.00 -2.50 -1.00 -7.00 -4.00 -7.00 -5.00 -8.00 -5.00 -8.00 -5.00 -9.00 -5.00 -10.00 -5.00
% Bid -2.18 1.00 -1.27 0.09 -0.48 0.15 0.26 0.47 0.43 0.65 0.58 0.74 0.62 0.79 0.65 0.82
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