The rupee on Monday reversed its weekend's weakness versus the dollar in the interbank market, gaining five paisa for buying and selling at 59.50 and 59.55, dealers said. Market sources said that the rupee managed to gain modestly on easy supply of dollars and may maintain its surge in the coming days because supply side is strong on the back of rising remittances and lack of buying interest by the importers, they added.
In the international markets, the dollar steadied against the euro since November 23 after the US Treasury Secretary John Snow called for a strong dollar as analysts predicted higher US interest rates.
The euro was at 1.3067/71 dollar, compared with 1.3051 dollar late in New York and after touching its lowest level since November 23 at 1.3023 dollars on Friday, according to the Reuters data.
OPEN MARKET RATES: The rupee, however, lost five paisa versus the dollar for buying and selling at 59.90 and 60.00 as it had lost ground in the interbank market on Monday, dealer said.
Due to easy supply of dollar, the rupee might show firm trend in the near future, they added.
The euro rose by 25 paisa versus the rupee for buying and selling at Rs 78.50 and Rs 78.80.
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Kerb Buying Rs 59.90
Kerb Selling Rs 60.00
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Tuesday.
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Buying Rs 59.50
Selling Rs 59.55
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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 7.00 7.40 7.25 7.40 7.26
2-Week 6.75 7.00 7.00 7.25 7.00
1-Month 4.60 5.00 4.90 5.25 4.94
2-Months 4.50 4.70 5.00 5.25 4.86
3-Months 4.60 5.10 4.80 5.40 4.98
4-Months 4.75 5.20 5.00 5.50 5.11
5-Months 4.80 5.20 5.25 5.60 5.21
6-Months 4.90 5.10 5.50 5.70 5.30
9-Months 5.00 5.25 5.70 5.90 5.46
1-Year 5.50 5.75 6.00 6.25 5.88
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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 7.45 7.38
1-Week 7.25 7.40 7.40 7.50 7.39
2-Week 7.00 7.25 7.25 7.40 7.23
1-Month 5.00 5.50 5.75 6.00 5.56
2-Month 5.20 5.40 5.75 5.90 5.56
3-Month 5.50 5.75 6.00 6.25 5.88
4-Month 5.60 5.80 6.00 6.30 5.93
5-Month 5.75 6.00 6.25 6.50 6.13
6-Month 5.75 6.00 6.40 6.70 6.21
9-Month 5.80 6.10 6.50 6.75 6.29
1-Year 6.00 6.25 6.60 6.80 6.41
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RUPEE IN LAHORE: The rupee showed stability and registered marginal gain of five paisa in its value in relation to the greenback in the local currency markets on Monday.
According to the currency dealers, the dollar resumed trading at Saturday's closing levels of Rs 59.90 and Rs 60.00 on buying and selling counters, respectively. However, owing to lacking buying interest, the dollar could not sustain and fell down to Rs 59.85 and Rs 59.95 on buying and selling sides, respectively, the dealers added.
On the contrary, the rupee remained under pressure and lost its worth against the pound sterling. The pound's buying rate improved from previous closing rate of Rs 112.50 to Rs 112.60, while its selling rate remained unchanged at Rs 113.00, the dealers said. However, some of the currency dealers quoted selling rate of the pound as Rs 112.90.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar in the open currency markets of Islamabad and Rawalpindi on Monday.
The dollar opened at Rs 59.90 (buying) and Rs 60 (selling) against the last week's rate. It did not witness any further change in the evening session, and closed at Rs 59.90 (buying) and Rs 60 (selling).
Pound sterling opened at Rs 113 (buying) and Rs 113.20 (selling) against the same previous rate. It did not witness any further change in the last trading hours, and closed at Rs 113 (buying) and Rs 113.20 (selling).
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