The rupee on Tuesday reversed its overnight gains versus dollar in the interbank market, shedding three paisa for buying and selling at Rs 57.67 and Rs 57.69, respectively, dealers said.
Corporate demand for oil payments pushed the rupee value lower in the market, they added. In the coming days, the local currency may lose more ground as demand for greenback will go up for oil and other major payments.
In the world markets, worries about the rising oil prices and its immediate impact on the US currency dragged its value down in terms of the major currency units, moneychangers said.
OPEN MARKET RATES: Intervention by the money exchange companies worked as the rupee after gaining 30 paisa versus the dollar, firmly held its overnight strength for buying and selling at Rs 58.40 and Rs 58.50, respectively.
Dealers said that all leading exchange companies were trying to make dollar smooth to limit its gain.
On dollar's weakness the euro went up versus the rupee, picking up 30 paisa for buying and selling at Rs 70.20 and Rs 70.50, they added.
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Kerb Buying Rs 58.40
Kerb Selling Rs 58.50
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Tuesday.
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Buying Rs 57.67
Selling Rs 57.69
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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 0.15 0.40 0.25 0.60 0.35
1-Week 0.70 0.90 1.10 1.30 1.00
2-Week 1.00 1.20 1.40 1.60 1.30
1-Month 1.55 1.65 1.85 1.95 1.75
2-Months 2.00 2.10 2.30 2.40 2.20
3-Months 2.10 2.25 2.50 2.60 2.36
4-Months 2.20 2.30 2.60 2.70 2.45
5-Months 2.30 2.40 2.70 2.80 2.55
6-Months 2.30 2.50 2.80 2.90 2.63
9-Months 2.40 2.60 2.80 3.00 2.70
1-Year 2.50 2.70 2.90 3.10 2.80
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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 0.20 0.50 0.30 0.70 0.43
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 1.60 1.70 1.90 2.10 1.83
2-Month 2.10 2.20 2.40 2.50 2.30
3-Month 2.20 2.40 2.60 2.80 2.50
4-Month 2.30 2.40 2.60 2.80 2.53
5-Month 2.40 2.50 2.80 2.90 2.65
6-Month 2.40 2.50 2.80 3.00 2.68
9-Month 2.50 2.70 2.90 3.10 2.80
1-Year 2.60 2.80 3.00 3.20 2.90
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RUPEE IN LAHORE: The rupee remained firm and further appreciated its value by five-paisa in relation to the greenback in the local currency markets, on Tuesday.
The greenback remained under selling pressure for the second consecutive day, which pushed its worth down against the local currency.
The dollar commenced trading at overnight closing rates of Rs 58.45 and Rs 58.60 as its buying and selling rates, respectively.
Due to lacking buying interest, it could not sustain and fell down to Rs 58.40 and Rs 58.55 on buying and selling counters, respectively, the currency dealers said.
On the contrary, the rupee failed to maintain its overnight rising trend and registered loss against the pound sterling.
The pound's buying rate improved from Monday's Rs 104.25 to Rs 105.25 while selling rate increased from Rs 104.50 to Rs 105.60, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar surged by 15 paisa against the rupee at currency markets of Islamabad and Rawalpindi on Tuesday.
The dollar opened at Rs 58.40 (buying) and Rs 58.50 (selling) against last rate of Rs 58.25 (buying) and Rs 58.35 (selling). It did not observe any further change in the evening spell and closed at Rs 58.40 (buying) and Rs 58.50 (selling).
Pound sterling opened at Rs 105.10 (buying) and Rs 105.20 (selling) against last rate of Rs 103.20 (buying) and Rs 103.40 (selling). It did not witness any further change in the evening session and closed at Rs 105.10 (buying) and Rs 105.20 (selling).
Canadian dollar opened at Rs 42.20 (buying) and Rs 42.30 (selling) against same overnight value. It did not observe any further change in the second spell and closed at Rs 42.20 (buying) and Rs 42.30 (selling).
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