The rupee on Thursday continued its weakness in the interbank market, falling three paisa more for buying and selling at Rs 58.82 and Rs 58.84 on persistent demand for the dollars to make import and debt payments, dealers said. The payments of around 40-50 million dollars daily for the last two or three days have made rupee's value vulnerable in the currency market, they said, adding the State Bank is keeping an eye on the present fluctuation.
According to some market players, there were some rumours that to avoid sharp fall in the rupee's value, the bank is intervening in the market.
In the meantime, the currency market is tight these days following the central bank measures, they observed.
KERB MARKET RATES: The rupee shed two paisa in relation to the dollar for buying and selling at Rs 59.20 and Rs 59.25, dealers said.
On the back of the greenback's fall the rupee lost 30 paisa versus the euro for buying and selling at Rs 72.20 and Rs 72.50.
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KERB BUYING Rs 59.20
KERB SELLING Rs 59.50
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Thursday.
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BUYING Rs 58.82
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 5.00 7.00 5.50 7.40 6.23
1-Week 3.50 3.75 4.00 4.25 3.88
2-Week 3.25 3.75 4.25 4.50 3.94
1-Month 2.40 2.60 2.80 3.00 2.70
2-Months 2.25 2.50 2.75 3.00 2.63
3-Months 2.50 2.60 2.70 2.80 2.65
4-Months 2.50 2.70 3.00 3.10 2.83
5-Months 2.70 2.80 3.00 3.20 2.93
6-Months 2.80 2.90 3.10 3.20 3.00
9-Months 3.00 3.20 3.40 3.50 3.28
1-Year 3.20 3.25 3.50 3.60 3.39
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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 5.25 7.25 5.50 7.40 6.35
1-Week 3.75 4.00 4.25 4.50 4.13
2-Week 3.50 4.00 4.25 4.50 4.06
1-Month 2.60 2.75 3.00 3.25 2.90
2-Month 2.50 2.75 3.00 3.25 2.88
3-Month 2.70 2.80 3.00 3.25 2.94
4-Month 2.75 3.00 3.25 3.40 3.10
5-Month 2.90 3.10 3.30 3.50 3.20
6-Month 3.00 3.20 3.40 3.50 3.28
9-Month 3.10 3.30 3.60 3.90 3.48
1-Year 3.50 3.70 4.00 4.20 3.85
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RUPEE IN LAHORE: The rupee remained unchanged on buying side at Rs 59.15, while improved its worth by two-paisa on selling side at Rs 59.20 in relation to the greenback in the local currency markets on Thursday.
There was no visible change in dollar's demand and supply situation, which had provided stability to the local currency.
The dollar trading had resumed at Rs 59.15 and Rs 59.22 on buying and selling counters, respectively.
However, till closing of trading, the greenback had declined and closed at Rs 59.20 on selling side, while had remained unchanged on buying side at Rs 59.15, the currency dealers said.
Similarly, the dealers added that the local currency had recovered its earlier loss and appreciated its worth against the Pound Sterling.
The pound's buying rate had declined from Wednesday's closing rates of Rs 106.60 and Rs 106.95 on buying and selling counters, respectively, to Rs 106.35 and Rs 106.70.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar-rupee parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 59.15 (buying) and Rs 59.25 (selling) against the same previous rate. It did not observe any further change in the second session and closed at Rs 59.15 (buying) and Rs 59.25 (selling).
Pound sterling opened at Rs 106.40 (buying) and Rs 106.50 (selling) against the same overnight value. It did not observe any further change in the second session and closed at Rs 106.40 (buying) and Rs 106.50 (selling).
Canadian dollar opened at Canadian 45 (buying) and Rs 45.20 (selling) against the last rate of Rs 45.20 (buying) and Rs 45.40 (selling). It did not observe any further change in the second session and closed at Canadian 45 (buying) and Rs 45.20 (selling).
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