The demand for dollars persisted in the open market on Friday as the rupee extended its fall, shedding ten paisa for buying and selling at Rs 58.30 and Rs 58.35, dealers said.
They said that the interbank market continued buying dollars from open market to meet payment requirements. If the demand for dollars persisted further, the rupee might cross the mark of Rs 58.50 in the coming days, they added.
The local currency gained 10 paisa versus the euro for buying and selling at Rs 68.90 and 69.20, respectively.
The dollar touched the new high versus yen in the international markets on expectations of interest rate hike.
INTERBANK RATES: The rupee recovered modestly versus the greenback for buying and selling at Rs 57.69 and Rs 57.71.
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Kerb Buying Rs 58.30
Kerb Selling Rs 58.35
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Friday.
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Buying Rs 57.69
Selling Rs 57.71
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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 0.20 0.60 0.40 1.00 0.55
1-Week 0.70 0.90 1.00 1.30 0.98
2-Week 1.10 1.20 1.40 1.50 1.30
1-Month 1.40 1.50 1.70 1.80 1.60
2-Months 1.50 1.60 1.80 1.90 1.70
3-Months 1.60 1.80 1.90 2.20 1.88
4-Months 1.70 1.90 2.10 2.30 2.00
5-Months 1.80 1.90 2.10 2.30 2.03
6-Months 1.90 2.10 2.20 2.40 2.15
9-Months 2.20 2.40 2.60 2.80 2.50
1-Year 2.30 2.50 2.70 2.90 2.60
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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 0.40 1.00 0.80 1.25 0.86
1-Week 0.90 1.10 1.30 1.50 1.20
2-Week 1.20 1.40 1.60 1.80 1.50
1-Month 1.50 1.70 1.90 2.10 1.80
2-Month 1.60 1.70 1.80 1.90 1.75
3-Month 1.70 1.90 2.10 2.30 2.00
4-Month 1.80 2.00 2.20 2.40 2.10
5-Month 1.90 2.10 2.30 2.50 2.20
6-Month 2.00 2.20 2.40 2.60 2.30
9-Month 2.30 2.50 2.70 2.90 2.60
1-Year 2.40 2.60 2.80 3.00 2.70
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RUPEE IN LAHORE: The Pak rupee lost its value by 10-paisa in relation to the greenback on the local currency markets on Friday.
The dollar resumed trading at Rs 58.30 and Rs 58.40 as its buying and selling rates, respectively. The dollar's demand remained intact, however, investors preferred to maintain their holdings in anticipation of further rise in its value. At the end, the dollar was closed at Rs 58.35 and Rs 58.45 on buying and selling counters, respectively, as compared with Rs 58.25 and Rs 58.35 of Thursday, the dealers said.
On the contrary, the rupee remained strong and further appreciated its value against the British currency. The pound's buying and selling rates declined to Rs 102.50 and Rs 102.90, respectively as compared with Rs 102.90 and Rs 103.30, of Thursday, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The buying and selling rates of dollar against the rupee remained unchanged on the local kerb markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 58.10 (buying) and Rs 58.20 (selling) against the same previous rates. It did not observe any further change in the evening session and closed at Rs 58.10 (buying) and Rs 58.20 (selling).
Pound sterling opened at Rs 102.90 (buying) and Rs 103.10 (selling) against the last rates of Rs 103 (buying) and Rs 103.20 (selling). It did not observe any further change in the evening session and closed at Rs 102.90 (buying) and Rs 103.10 (selling).
Canadian dollar opened at Rs 41.80 (buying) and Rs 41.90 (selling) against the last rates of Rs 41.65 (buying) and Rs 41.75 respectively. It did not observe any further change in the evening session and closed at Rs 41.80 (buying) and Rs 41.90 (selling).
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