The rupee on Monday slipped slightly versus the dollar in the interbank market, losing two paisa for buying and selling at 59.39 and 59.41espectively. The rupee came under pressure on in the early hours but exporters were in the market, selling their dollars, while inflows from overseas Pakistanis were comfortable which helped the local currency to gain its ground in terms of the dollar, moneychangers said. Another dealers in the money market said that a major inflow this week would further ease the dollars' supply.
In the overseas markets, the Japanese currencies gained versus the leading currencies on strong current account surplus, they added.
OPEN MARKET RATES: The rupee maintained its weekend levels versus the greenback for buying and selling at 59.50 and 59.60, dealers said.
Meanwhile, the local currency extended its losses versus the euro for buying and selling at Rs 76.85 and Rs 77.15, they said.
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Kerb Buying Rs 59.50
Kerb Selling Rs 59.60
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Monday.
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Buying Rs 59.37
Selling Rs 59.39
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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 1.00 0.75 1.50 0.94
1-Week 1.25 1.50 1.75 2.00 1.63
2-Week 2.00 2.25 2.50 2.75 2.38
1-Month 3.25 3.50 3.75 4.00 3.63
2-Months 3.75 4.00 4.25 4.50 4.13
3-Months 4.50 5.00 4.75 5.25 4.88
4-Months 4.75 5.25 5.00 5.50 5.13
5-Months 5.00 5.50 5.60 5.75 5.46
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 0.75 1.25 1.00 1.50 1.13
1-Week 1.50 1.75 1.75 2.00 1.75
2-Week 2.25 2.50 2.75 3.00 2.63
1-Month 3.50 3.75 4.25 4.50 4.00
2-Month 4.00 4.25 4.75 5.00 4.50
3-Month 4.75 5.00 5.50 6.00 5.31
4-Month 5.00 5.50 5.75 6.20 5.61
5-Month 5.25 5.75 6.25 6.50 5.94
6-Month 5.75 6.00 6.50 6.75 6.25
9-Month 6.00 6.25 6.75 7.00 6.50
1-Year 6.50 6.75 7.00 7.25 6.88
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RUPEE IN LAHORE: The rupee opened the week on a negative note, as it shed five paisa in relation to the greenback in the local currency markets.
According to the currency dealers, fresh buying was seen in the greenback, which helped appreciation in its worth against the local currency. The dollar resumed trading at Saturday's closing levels of Rs 59.45 and Rs 59.55 on buying and selling counters, respectively. With the expansion in demand, its rate started moving up and finally closed at Rs 59.50 and Rs 59.60 on buying and selling sides, respectively, the dealers added.
Similarly, the local currency remained under pressure and lost its worth against the pound sterling. The pound's buying rate improved from previous week closing level of Rs 111 to Rs 111.30, while selling rate increased from Rs 111.30 to Rs 111.90, the dealers 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 59.60 (buying) and Rs 59.70 (selling) against same last 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 112 (buying) and Rs 112.40 (selling) against same last rate. It did not observe any change in the second spell and closed at Rs 112 (buying) and Rs 112.40 (selling).
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