By and large, the demand for dollars in the interbank on Monday was strong as the rupee shed one paisa more versus the greenback for buying and selling at Rs 58.24 and Rs 58.26, dealers said.
They hinted that in the absence of heavy dollars' selling intervention, the rupee might not be able to find its ways to recover lost ground versus the greenback, they added.
Continued dollar demand by the corporate sector was encouraging the US currency to sustain its present levels, analysts said.
In the world markets, the US currency stuck in tight range versus the leading currencies as expectations faded about the rise in the US interest rates.
UPWARD TREND IN OPEN MARKET: Against the interbank rates, the rupee has given up its weekend weakness versus the dollar, recovering two paisa for buying and selling at Rs 58.45 and Rs 58.50 despite heavy demand.
In terms of the euro, the rupee also managed to recover 30 paisa for buying and selling at Rs 72.45 and Rs 72.75 respectively, as the single European currency failed to hold its firmness versus the dollar in the overseas markets, money-changers said.
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Kerb Buying Rs 58.45
Kerb Selling Rs 58.50
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Monday.
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Buying Rs 58.24
Selling Rs 58.26
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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 0.10 0.25 0.30 0.50 0.29
1-Week 0.25 0.50 0.75 1.00 0.63
2-Week 0.70 0.90 1.10 1.30 1.00
1-Month 1.00 1.20 1.40 1.60 1.30
2-Months 1.40 1.60 1.80 2.00 1.70
3-Months 1.60 1.70 1.90 2.00 1.80
4-Months 1.80 2.00 2.20 2.40 2.10
5-Months 2.00 2.20 2.40 2.60 2.30
6-Months 2.20 2.40 2.60 2.80 2.50
9-Months 2.75 3.00 3.25 3.50 3.13
1-Year 3.00 3.25 3.50 3.75 3.38
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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 0.40 0.60 0.80 0.50
1-Week 0.50 0.75 1.00 1.25 0.88
2-Week 1.00 1.25 1.50 1.75 1.38
1-Month 1.20 1.40 1.60 1.80 1.50
2-Month 1.60 1.80 2.00 2.20 1.90
3-Month 1.80 2.00 2.20 2.40 2.10
4-Month 2.00 2.20 2.40 2.60 2.30
5-Month 2.20 2.40 2.60 2.80 2.50
6-Month 2.40 2.60 2.80 3.00 2.70
9-Month 3.00 3.25 3.50 3.75 3.38
1-Year 3.25 3.50 3.75 4.00 3.63
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RUPEE IN LAHORE: The rupee marginally shed its value by three-paisa on buying side at Rs 58.48, while remained unchanged on selling side at Rs 58.55, in relation to the greenback in the local currency markets on Monday.
There was slight surge in dollar's demand, which helped appreciation in its worth against the local currency.
The dollar resumed trading at Saturday's closing rates of Rs 58.45 and Rs 58.55 on buying and selling counters, respectively.
After slight increase in its demand, the greenback was closed at Rs 58.48 and Rs 58.55 on buying and selling counters, respectively, the currency dealers said.
However, the rupee remained weak against the pound sterling. The pound was purchased at Rs 109.00 and was sold at Rs 109.30 as compared to Saturday's closing rates of Rs 108.50 and Rs 109.00, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi on Monday.
The dollar opened at Rs 58.40 (buying) and Rs 58.50 (selling) against the previous rate. It did not witness any further change in the second session, and closed at Rs 58.40 (buying) and Rs 58.50 (selling).
The pound sterling opened at Rs 109 (buying) and Rs 109.20 (selling) against the last rate of Rs 108 (buying) and Rs 108.20 (selling). It did not observe any further change in the second session, and closed at Rs 109 (buying) and Rs 109.20 (selling).
The Canadian dollar opened at Rs 44 (buying) and Rs 44.10 (selling) against the last rate. It also did not witness any further change in the second session, and closed at Rs 44 (buying) and Rs 44.10 (selling).
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