Range-bound trading seen in the inter-bank market on Thursday as the rupee-dollar parity moved slightly on comfortable supply of the greenback, dealers said. The rupee was available at 59.84 and 59.86 per dollar amid higher demand by the corporate sector, they added. They said the rupee resisted sharp decline since the State Bank has started dollar selling for oil import payments.
In fact, the dollar supply is not ease as exporters were on the sideline and on the other hand importers were buying dollars for oil payments, currency experts said, adding the country's oil imports are estimated at 400 million dollars in a month.
They also said the rupee might sustain its firmness as the SBP is still keeping stern check on speculative trade on the forex counter.
OPEN MARKET RATES: The rupee gained five paisa on the buying and selling counters at 60.00 and 60.10 for a dollar, dealers said.
In the meantime, the euro maintained its surge versus the rupee, picking up 30 paisa more for buying and selling at Rs 78.30 and Rs 78.60 after expanding its ground versus the dollar in the world markets, dealers said.
In the international markets, the single European currency surged to a new all time high of 1.3191, it was the third straight day this week of record high as the dollar selling increased on concerns about the large US current account and budget deficits, currency analysts said.
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KERB BUYING Rs 60.00
KERB SELLING Rs 60.10
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Thursday.
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BUYING Rs 59.84
SELLING Rs 59.86
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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 1.50 3.00 2.00 4.00 2.63
1-Week 2.25 2.50 3.25 3.00 2.75
2-Week 2.50 2.75 3.00 3.25 2.88
1-Month 3.00 3.25 3.50 3.75 3.38
2-Months 3.25 3.50 3.75 3.90 3.60
3-Months 3.70 3.90 4.25 4.50 4.09
4-Months 3.90 4.10 4.50 4.75 4.31
5-Months 4.00 4.25 4.70 4.90 4.46
6-Months 4.50 4.75 4.80 5.20 4.81
9-Months 4.70 4.90 5.00 5.25 4.96
1-Year 4.75 5.00 5.25 5.40 5.10
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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 2.00 2.50 3.00 4.00 2.88
1-Week 2.50 2.75 3.50 3.75 3.13
2-Week 2.75 3.00 3.75 4.00 3.38
1-Month 3.50 3.75 4.25 4.50 4.00
2-Month 4.00 4.25 4.50 4.75 4.38
3-Month 4.75 4.90 5.25 5.50 5.10
4-Month 4.80 5.00 5.30 5.60 5.18
5-Month 4.90 5.20 5.50 5.75 5.34
6-Month 5.25 5.50 6.00 6.25 5.75
9-Month 5.30 5.60 6.10 6.30 5.83
1-Year 5.50 5.75 6.25 6.50 6.00
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RUPEE IN LAHORE: The rupee maintained upward trend and improved its worth by seven-paisa in relation to the greenback in the local currency markets on Thursday.
According to the currency dealers, the dollar commenced trading at Rs 60.10 and Rs 60.18 on buying and selling counters, respectively. As a result of contraction in demand, the dollar's rate started moving down soon after resumption of trading. At the end of trading, the greenback was closed at Rs 60.05 and Rs 60.15 on buying and selling counters, respectively, against Rs 60.12 and Rs 60.22 of Wednesday, the dealers added.
However, the rupee could not come out of pressure and further declined against the pound sterling. The pound's buying rate improved from Wednesday's closing rate of Rs 111.20 to Rs 112.00 while selling rate increased from Rs 111.55 to Rs 112.30, the dealers added.
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 60 (buying) and Rs 60.20 (selling) against the same last rate. It did not observe any further change in the evening session and closed at Rs 60 (buying) and Rs 60.20 (selling).
Euro opened at Rs 78.20 (buying) and Rs 78.40 (selling) in the morning session. It did not witness any further change and closed at Rs 78.20 (buying) and Rs 78.40 (selling).
Pound sterling opened at Rs 111.80 (buying) and Rs 111.90 (selling) against the same previous rate. It did not observe any further change in the evening session and closed at Rs 111.80 (buying) and Rs 111.90 (selling).
Canadian dollar opened at Rs 50 (buying) and Rs 50.10 (selling) against the same last rate. It did not observe any further change in the second spell and closed at Rs 50 (buying) and Rs 50.10 (selling).
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