Firmness prevailed in the interbank market as the rupee did not show a major change in its overnight levels versus dollar for buying and selling at Rs 58.81 and Rs 58.84, respectively.
"There is not much activity in the market as supply is enough to meet the requirements, but we expect that demand for dollar would pick up in the next few days on corporate buying," dealers said.
Currency experts said that the State Bank supported the rupee by selling dollars in the market after the local currency hit a two-year low of Rs 59.35 versus dollar.
The rupee might came under pressure again as major payments are still in hand, including a 100 million dollars debt repayment, analysts said.
KERB MARKET RATES: The rupee maintained its overnight levels in relation to dollar for buying and selling at Rs 59.10 and Rs 59.15 in persistent demand for dollars, whereas it gained 25 paisa versus euro for buying and selling at Rs 72.50 and Rs 72.80, dealers said.
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Kerb buying Rs 59.10
Kerb selling Rs 59.15
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Wednesday.
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Buying Rs 58.81
Selling Rs 58.84
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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 0.75 1.25 1.00 1.50 1.13
1-Week 0.75 1.00 1.25 1.50 1.13
2-Week 1.00 1.25 1.75 2.00 1.50
1-Month 1.30 1.40 1.50 1.60 1.45
2-Months 1.60 1.75 1.90 2.00 1.81
3-Months 1.90 2.00 2.10 2.20 2.05
4-Months 2.00 2.10 2.30 2.50 2.23
5-Months 2.20 2.40 2.75 2.90 2.56
6-Months 2.50 2.75 2.90 3.00 2.79
9-Months 2.75 3.00 3.25 3.50 3.13
1-Year 3.25 3.50 3.75 4.00 3.63
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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 1.00 1.50 1.75 2.00 1.56
1-Week 1.00 1.25 1.50 1.75 1.38
2-Week 1.25 1.50 1.75 2.00 1.63
1-Month 1.50 1.75 1.80 2.00 1.76
2-Month 1.75 2.00 2.40 2.50 2.16
3-Month 2.00 2.20 2.50 2.70 2.35
4-Month 2.25 2.50 2.75 3.00 2.63
5-Month 2.50 2.75 3.00 3.25 2.88
6-Month 2.75 3.00 3.25 3.50 3.13
9-Month 3.25 3.50 3.80 4.10 3.66
1-Year 3.75 4.00 4.25 4.50 4.13
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RUPEE IN LAHORE: The rupee fractionally lost its value by two-paisa on selling side at Rs 59.20, while remained unchanged on buying side at Rs 59.10 in relation to the greenback in the local currency markets on Wednesday.
There was no visible change in dollar's demand and supply situation that provided stability to the local currency. The dollar's trading commenced at Tuesday's closing levels of Rs 59.10 and Rs 59.18 on buying and selling counters, respectively.
The dollar's buying rate remained intact at overnight closing rate of Rs 59.10 while it slightly appreciated its worth on selling side and was sold at Rs 59.20, the currency dealers said.
On the contrary, the rupee registered considerable improvement in its worth against the pound sterling. The British currency was purchased at Rs 107.80 and was sold at Rs 108.20 as compared to Tuesday's rates of Rs 108.15 and Rs 108.45, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The buying and selling rates of the dollar against the rupee remained unchanged in the open currency markets of Islamabad and Rawalpindi on Wednesday.
The dollar opened at Rs 59.10 (buying) and Rs 59.20 (selling) against the last rate. The ever-favourite greenback did not observe any further change in the second session, and closed at Rs 59.10 (buying) and Rs 59.20 (selling).
The pound sterling opened at Rs 108.10 (buying) and Rs 108.20 (selling) against the last rate of Rs 108.50 (buying) and Rs 108.70 (selling). It did not observe any further change in the second session, and closed at Rs 108.10 (buying) and Rs 108.20 (selling).
The Canadian dollar opened at Rs 44.60 (buying) and Rs 44.80 (selling) against the previous rate. It did not observe any further change in the second session, and closed Rs 44.60 (buying) and Rs 44.80 (selling).
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