The rupee failed to maintain its firmness versus dollar in the interbank market on Monday at Rs 59.15 and Rs 59.17 for buying and selling, respectively, market men said. Corporate demand kept the dollars in plus column, but banks' dollar selling in the interbank market helped the rupee to trim its losses, currency analysts said.
There were expectations that the State Bank (SBP) might save the rupee at around Rs 59.20 for a dollar, dealers said.
They attributed the higher demand for dollars to rising global oil prices which is causing significantly higher import bills.
OPEN MARKET: Despite persistent demand for dollars, the rupee gained eight paisa against dollar for buying and selling at Rs 59.67 and Rs 59.72, dealers said.
The rupee also gained 15 paisa against euro for buying and selling at Rs 72.75 and Rs 73.05, they added.
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Kerb buying Rs 59.67
Kerb selling Rs 59.72
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Monday.
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Buying Rs 59.15
Selling Rs 59.17
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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 7.00 7.40 7.25 7.40 7.26
1-Week 4.25 4.50 4.75 5.00 4.63
2-Week 3.50 3.75 4.00 4.25 3.88
1-Month 3.00 3.25 3.50 3.75 3.38
2-Months 3.00 3.25 3.40 3.60 3.31
3-Months 2.75 2.90 3.00 3.25 2.98
4-Months 3.00 3.25 3.50 3.70 3.36
5-Months 3.20 3.40 3.60 3.80 3.50
6-Months 3.30 3.50 3.70 3.90 3.60
9-Months 3.50 3.70 3.90 4.10 3.80
1-Year 3.70 3.90 4.10 4.30 4.00
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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 7.25 7.40 7.40 7.40 7.36
1-Week 4.50 4.75 5.00 5.25 4.88
2-Week 3.75 4.00 4.25 4.50 4.13
1-Month 3.25 3.50 3.75 4.00 3.63
2-Month 3.25 3.50 3.75 4.00 3.63
3-Month 3.00 3.25 3.40 3.60 3.31
4-Month 3.25 3.50 3.75 4.00 3.63
5-Month 3.50 3.75 4.00 4.25 3.88
6-Month 3.50 3.75 4.00 4.25 3.88
9-Month 3.75 4.00 4.25 4.50 4.13
1-Year 4.00 4.25 4.50 4.75 4.38
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RUPEE IN LAHORE: The rupee opened the week on a positive note, as it appreciated its worth against the greenback in the local currency markets on Monday.
According to the money-changers, the rupee registered a significant increase of 12 paisa in its value against the dollar, which resumed trading at Rs 58.65 and Rs 58.68 on buying and selling counters, respectively. Soon after the commencement of trading, the investors started offloading their holdings of the greenback to pocket the available margin. As a result, the dollar moved down, and closed at Rs 58.58 and Rs 58.68 on buying and selling sides, respectively, against Rs 58.70 and Rs 58.80 of Saturday, the currency dealers said.
However, the rupee showed stability and remained unchanged on buying side while registered improvement in selling side against the pound sterling. The British currency was purchased at Rs 107.20, and sold at Rs 107.50, they 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 59.70 (buying) and Rs 59.80 (selling) against the last rate. It did not observe any further change in the second session, and closed at Rs 59.70 (buying) and Rs 59.80 (selling).
The pound sterling opened at Rs 107.50 (buying) and Rs 107.70 (selling) against the last rate. It did not observe any further change in the second session, and closed at Rs 107.50 (buying) and Rs 107.70 (selling).
The Canadian dollar opened at Rs 46.50 (buying) and Rs 46.50 (selling) against the previous rate. It did not observe any further change in the second session, and closed at Rs 46.50 (buying) and Rs 46.50 (selling).
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