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The Pak rupee edged over the greenback gaining 2.0 to 3.0 paisa during the day in the Interbank Forex Market.
The "spot" market opened with the greenback changing hands in the range of Rs 57.34 and Rs 57.37 as respective buying and selling rates.
Comfortable supply of the US dollar coupled with slim demand of the same kept the local currency on the driving seat as the dollar retreated by 1.0 paisa in bid and 2.0 paisa in offer at Rs 57.33 and Rs 57.35.
The day concluded with the Pak rupee advancing by 1.0 paisa versus the US unit at Rs 57.32 and Rs 57.34 as respective buying and selling rates.
In swap transactions, prices in longer tenures from 2-month and onwards surged significantly, while rates in shorter remained mostly stable. 1-month swap was dealt in the range of -3.0 paisa and -1.0 paisa.

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DAILY FOREX REPORT Wednesday (February 18, 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
==============================================================================================================================
Outright 57.32 57.34 57.32 57.34 57.30 57.34 57.28 57.30 57.27 57.29 57.26 57.28 57.26 57.28 57.25 57.27
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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
==============================================================================================================================
Paisa -0.50 0.50 -1.50 0.00 -3.00 1.00 -5.00 -3.00 -6.00 -4.00 -7.00 -5.00 -7.00 -5.00 -8.00 -6.00
% Bid -2.18 4.18 -0.36 1.00 0.36 1.21 0.47 0.68 0.58 0.72 0.63 0.73 0.70 0.79 0.72 0.79
==============================================================================================================================

Copyright Business Recorder, 2004

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