The rupee on Friday continued its overnight weakness versus the dollar in the interbank market, losing three paisa for buying and four paisa for selling at Rs 59.38 and Rs 59.42, dealers said. Market sources said that the rupee failed to show any improvement due to rising demand by the importers for payments. They, however, expect that the local currency would recover its lost ground on easy supply of dollars.
In the international markets, the US dollar's six-week rally against the euro and yen stalled on concern about a record US trade deficit, despite the gap narrowing slightly in December.
OPEN MARKET RATES: The rupee gained five paisa against the dollar for buying and selling at 59.45 and 59.55, respectively.
In the absence of major demand, the rupee is likely to sustain its firmness, dealers said.
The euro on the other hand, managed to gain 25 paisa versus the rupee for buying and selling at Rs 76.50 and Rs 76.80, respectively.
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Kerb Buying Rs 59.45
Kerb Selling Rs 59.55
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Friday.
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Buying Rs 59.38
Selling Rs 59.42
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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 0.50 1.75 0.75 2.00 1.25
1-Week 1.25 1.50 1.75 2.00 1.63
2-Week 2.00 2.50 3.00 3.25 2.69
1-Month 3.25 3.50 4.00 4.25 3.75
2-Months 4.00 4.50 4.50 4.75 4.44
3-Months 4.75 5.00 5.25 5.50 5.13
4-Months 4.75 5.00 5.40 5.70 5.21
5-Months 5.00 5.50 5.70 5.90 5.53
6-Months 5.00 5.50 5.60 6.00 5.53
9-Months 5.25 5.75 6.00 6.60 5.90
1-Year 5.50 5.75 6.00 6.75 6.00
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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 2.00 4.00 2.50 4.50 3.25
1-Week 3.50 3.75 4.25 4.75 4.06
2-Week 4.25 4.50 5.00 5.25 4.75
1-Month 4.50 4.75 5.00 5.50 4.94
2-Month 5.00 5.25 5.50 5.75 5.38
3-Month 6.00 6.25 6.50 6.75 6.38
4-Month 6.25 6.50 6.80 7.10 6.66
5-Month 6.30 6.60 6.90 7.20 6.75
6-Month 6.50 6.75 7.00 7.25 6.88
9-Month 6.70 7.00 7.20 7.30 7.05
1-Year 6.90 7.10 7.25 7.40 7.16
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RUPEE IN LAHORE: The dollar-rupee parity remained unchanged amid sluggish trading trend in the local currency markets on Friday.
According to the currency dealers, the dollar's demand and supply situation remained intact at Thursday's closing level that helped local currency maintain its position. The dollar resumed trading at Rs 59.50 and Rs 59.60 on buying and selling sides, respectively. These rates continued to prevail throughout the day, the dealers added.
However, the local currency registered loss against the pound sterling. The pound's buying rate improved from Thursday's closing rate of Rs 110.80 to Rs 111.00 while selling rate increased from Rs 111.20 to Rs 111.30, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The buying and selling rates of dollar against rupee remained unchanged at Islamabad and Rawalpindi currency markets on Friday.
The dollar opened at Rs 59.60 (buying) and Rs 59.70 (selling) against same previous rate. It did not observe any further change in the evening session and closed at Rs 59.60 (buying) and Rs 59.70 (selling).
Pound sterling opened at Rs 110.80 (buying) and Rs 110.90 (selling) against same last rate. It did not observe any change in the second spell and closed at Rs 110.80 (buying) and Rs 110.90 (selling).
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