The rupee shed another five paisa against the dollar in the open market on Friday for buying and selling at 59.85 and 59.95 on increase demands by the corporate clients, dealers said. Pressure on buying side, seen in the opening session as the rupee crossed an important mark of 60 per dollar, but the local currency trimmed some losses at close on easy supply of dollars, they added. The rupee recovered some lost ground as the euro and was trading at 77.50 and 77.80, dealers said and adding that the single European currency came under pressure on rising dollar's demand in the international markets.
INTER-BANK RATES: The rupee fluctuated slightly versus the dollar in the inter-bank market on Friday in the process of improved demand for the US currency at 59.35 and 59.36, marketmen said.
The dollar is in demand due to quarter-end payment requirements, dealers said and added that it seems that the rupee might show some weakness in the near terms.
In the international markets, the dollar strengthened versus other currencies on expectations of more rise in the US interest rates, dealers said.
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Kerb Buying Rs 59.85
Kerb Selling Rs 59.95
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Friday.
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Buying Rs 59.35
Selling Rs 59.36
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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 2.00 5.00 3.50 6.00 4.13
1-Week 5.00 5.25 5.50 5.75 5.38
2-Week 4.00 4.50 4.75 5.00 3.50
1-Month 4.75 5.00 5.00 5.25 5.00
2-Months 4.60 4.90 5.00 5.50 5.00
3-Months 4.75 5.00 5.25 5.50 5.13
4-Months 4.90 5.25 5.50 5.75 5.35
5-Months 5.00 5.25 5.75 6.25 5.56
6-Months 5.25 5.50 5.75 6.00 5.63
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 6.00 7.50 8.00 8.50 7.50
1-Week 6.00 6.50 7.00 7.50 6.75
2-Week 5.00 5.50 6.00 6.50 5.75
1-Month 4.75 5.00 5.25 5.50 5.13
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 6.75 7.00 6.63
5-Month 6.30 6.60 6.80 7.10 6.70
6-Month 6.40 6.60 7.00 7.25 6.81
9-Month 6.50 6.75 7.20 7.50 6.99
1-Year 6.60 6.80 7.25 7.50 7.04
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RUPEE IN LAHORE: The Pak rupee marginally recovered its earlier loss by improving its worth by five-paisa in relation to the greenback amid sluggish trading trend in the local currency markets on Friday.
According to the currency dealers, the profit taking led the greenback downward which helped the local currency recover its some of earlier losses. The dollar resumed trading at overnight closing rates of Rs 59.85 and Rs 59.95 as its buying and selling rates, respectively. With the increase in greenback's supply, its rate declined and closed lower at Rs 59.80 and Rs 59.90 on buying and selling sides, respectively, the dealers added.
However, the rupee lost its worth on buying side, while marginally improved on selling side against the pound sterling. The British pound was purchased at Rs 112.20 and was sold at Rs 112.50 as compared to Rs 112.10 and Rs 112.60 of Thursday, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against dollar at the currency markets of Islamabad and Rawalpindi on Friday.
The dollar opened at Rs 59.70 (buying) and Rs 59.80 (selling) against same last rate. It did not observe any further change in the second spell and closed at Rs 59.70 (buying) and Rs 59.80 (selling).
Pound sterling opened at Rs 113.50 (buying) and Rs 113.60 (selling) against same overnight value. It did not observe any change in the second spell and closed at Rs 113.50 (buying) and Rs 113.60 (selling).
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