The euro on Wednesday again showed its muscles by gaining fresh ground versus the rupee on the back of dollar's weakness in the international markets, dealers said. In the morning session, the single European currency breached psychological mark of Rs 79.10 and Rs 79.40 in terms of the local currency. At close, the euro trimmed some gains for buying and selling at rs 79.05 and Rs 79.35, moneychangers said. The rupee held its overnight value against the dollar for buying and selling in the open market at 59.50 and 59.55 in the process of trading, they said.
In the world markets, the dollar was under pressure from the lingering concerns over the massive US current account and budget deficits, dealers said.
INTERBANK RATES: The local currency failed to sustain its firmness, shedding two paisa for buying and selling at 59.35 and 59.37 on slight increase in the dollar demand for major payments before the end of the third quarter of the fiscal year, marketmen said.
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Kerb Buying Rs 59.50
Kerb Selling Rs 59.55
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Wednesday.
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Buying Rs 59.35
Selling Rs 59.37
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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 7.25 7.40 7.40 7.45 7.38
1-Week 6.50 6.75 6.75 7.00 6.75
2-Week 5.50 5.75 6.00 6.50 5.94
1-Month 5.25 5.50 5.75 6.00 5.63
2-Months 4.75 5.25 5.50 5.75 5.31
3-Months 4.50 5.00 5.25 5.50 5.06
4-Months 4.75 5.25 5.50 5.75 5.31
5-Months 5.00 5.25 5.75 6.25 5.56
6-Months 5.25 5.70 6.00 6.50 5.86
9-Months 5.50 5.80 6.25 6.75 6.08
1-Year 6.00 6.25 6.75 7.00 6.50
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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 7.50 8.50 9.00 9.50 8.63
1-Week 6.00 6.50 6.75 7.25 6.63
2-Week 5.25 5.75 6.25 6.50 5.94
1-Month 5.75 6.00 6.25 6.50 6.13
2-Month 5.25 5.75 6.00 6.25 5.81
3-Month 5.00 5.50 5.75 6.00 5.56
4-Month 5.25 5.50 6.00 6.25 5.75
5-Month 5.50 5.75 6.25 6.50 6.00
6-Month 5.75 6.00 6.50 7.00 6.31
9-Month 6.00 6.25 6.75 7.25 6.56
1-Year 6.50 6.75 7.25 7.75 7.06
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RUPEE IN LAHORE: The rupee maintained downward trend and further lost its value by three paisa on buying side at Rs 59.45 and five paisa on selling side at Rs 59.55 in relation to the greenback in the local currency markets on Wednesday.
According to the currency dealers, the dollar resumed trading at Tuesday's closing levels of Rs 59.42 and Rs 59.50 on buying and selling counters, respectively. The dollar started improving on account of fresh buying and at the close it was traded at Rs 59.45 and Rs 59.55 on buying and selling sides, respectively, the dealers said.
Similarly, the rupee further depreciated its worth against the pound sterling. The British pound was purchased at Rs 114.30, and sold at Rs 114.70 as compared to Rs 113.90 and Rs 114.25 of Tuesday, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi on Wednesday.
The dollar opened at Rs 59.50 (buying) and Rs 59.60 (selling) against same last rate. It did not observe any further change in the second spell, and closed at Rs 59.50 (buying) and Rs 59.60 (selling).
Pound sterling opened at Rs 114.20 (buying) and Rs 114.40 (selling) against the last rate of Rs 113.60 (buying) and Rs 113.70 (selling). It did not observe any change in the second spell, and closed at Rs 114.20 (buying) and Rs 114.40 (selling).
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