Liquidity crunch in the money market and importers' less buying interest helped the rupee to recover one paisa in the interbank market versus dollar for buying and selling at Rs 58.71 and Rs 58.73, dealers said.
However, they added that the local unit might come under pressure from large debt and oil payments in the coming weeks.
The rupee was resisting further erosion on the back of expectations of fresh inflows of dollars and partly because of selling by the State Bank to keep the greenback below Rs 59 mark, according to market sources.
In the world markets, the dollar managed to gain versus the euro and yen on hopes of better-than-expected US economic data.
KERB MARKET RATES: The rupee posted two paisa gain in relation to dollar for buying and selling at Rs 59.10 and Rs 59.15, moneychangers said.
The rupee gained nearly Re one against euro for buying and selling at Rs 71.55 and Rs 71.85 as the European single currency lost its solid ground in the international markets, they said.
================================
Kerb buying Rs 59.10
Kerb selling Rs 59.15
================================
INTERBANK CLOSING RATES: Interbank closing rates for dollar on Tuesday.
==============================
Buying Rs 58.71
Selling Rs 58.73
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 4.50 6.00 5.00 6.50 5.50
1-Week 2.25 2.50 3.00 3.25 2.75
2-Week 2.25 2.50 2.75 3.00 2.63
1-Month 1.90 2.00 2.10 2.20 2.05
2-Months 2.00 2.25 2.40 2.60 2.31
3-Months 2.25 2.40 2.50 2.60 2.44
4-Months 2.25 2.40 2.60 2.75 2.50
5-Months 2.30 2.60 2.75 3.00 2.66
6-Months 2.50 2.75 3.00 3.25 2.88
9-Months 2.75 3.00 3.25 3.50 3.13
1-Year 3.50 3.75 3.90 4.00 3.79
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 5.00 6.00 5.50 6.50 5.75
1-Week 2.50 2.75 3.25 3.50 3.00
2-Week 2.50 2.75 3.25 3.50 3.00
1-Month 2.00 2.10 2.50 2.75 2.34
2-Month 2.20 2.40 2.60 2.75 2.49
3-Month 2.40 2.60 2.75 3.00 2.69
4-Month 2.50 2.75 2.75 3.00 2.75
5-Month 2.50 2.75 2.90 3.10 2.81
6-Month 2.75 3.00 3.25 3.50 3.13
9-Month 3.25 3.50 3.75 4.00 3.63
1-Year 3.50 3.75 4.00 4.25 3.88
=================================================================
RUPEE IN LAHORE: The rupee shed 10 paisa on buying side at Rs 59.20 and five paisa on selling side at Rs 59.25 in relation to dollar in Lahore currency market on Tuesday.
The demand for dollars started rising soon after resumption of trading in the kerb. The dollar resumed trading at Monday's closing rates of Rs 59.10 and Rs 59.20 on buying and selling counters, respectively. With the expansion in dollar demand its rate moved up and closed higher at Rs 59.20 and Rs 59.25 on buying and selling sides, respectively, currency dealers said.
The rupee, however, maintained upward trend and further appreciated its worth against pound sterling. The British currency was purchased at Rs 106.80 and was sold at Rs 107.40 as compared to Monday's closing rates of Rs 107.25 and Rs 107.65, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi on Tuesday.
The dollar opened at Rs 59 (buying) and Rs 59.10 (selling) against the overnight value. It did not observe any further change in the second session, and closed at Rs 59 (buying) and Rs 59.10 (selling).
The pound sterling opened at Rs 106.90 (buying) and Rs 107 (selling) against the last rate of Rs 107.10 (buying) and Rs 107.30 (selling). It did not observe any further change in the second session, and closed at Rs 106.90 (buying) and Rs 107 (selling).
The Canadian dollar opened at Rs 45 (buying) and Rs 45.10 (selling) against the last rate of Rs 45.10 (buying) and Rs 45.20 (selling). It did not observe any further change in the second session, and closed Rs 45 (buying) and Rs 45.10 (selling)
Comments
Comments are closed.