The rupee gave up its overnight weakness both in open market and in the interbank market on Thursday, gaining 20 paisa on buying counter and 25 paisa on selling in the kerb trade , while gaining three paisa versus the dollar for buying and selling at 59.64 and 59.66, respectively.
The rupee jumped on the easy supply of dollars on rising remittances by the overseas Pakistanis, dealers said.
Besides, forward buying of dollars by the importers were also limited, which also provided a basic ground to the rupee to appreciate in terms of the US currency, they said.
Slight fluctuations in the rupee-dollar parity rates propelled the small investors and banks to sell the dollars, they said.
Completion of some payments also was an encouraging factor for the rupee's firmness, they added.
In the international markets, the dollar rebounded versus the major currencies, dealers said.
OPEN MARKET RATES: The rupee posted sharp gain versus the dollar, picking up 20 paisa on the buying counter at 60.40 and rose by 25 paisa on selling in terms of the greenback at 60.45, dealers said.
The rupee also gained 20 paisa versus the euro for buying and selling at 74.50 and Rs 74.70 on sliding the single European currency, dealers said.
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Kerb Buying Rs 60.40
Kerb Selling Rs 60.45
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Thursday.
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Buying Rs 59.64
Selling Rs 59.66
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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 7.50 8.90 8.00 8.90 8.33
1-Week 7.25 7.75 7.75 8.00 7.69
2-Week 7.35 7.85 8.00 8.25 7.86
1-Month 7.00 7.35 7.65 7.75 7.44
2-Months 7.15 7.40 7.70 7.85 7.53
3-Months 7.25 7.50 7.75 8.00 7.63
4-Months 7.35 7.65 7.85 8.15 7.75
5-Months 7.40 7.70 7.90 8.25 7.81
6-Months 7.50 7.75 8.00 8.35 7.90
9-Months 7.65 8.00 8.25 8.50 8.10
1-Year 8.00 8.25 8.50 9.00 8.44
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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 8.00 9.00 8.75 9.25 8.75
1-Week 7.50 8.25 8.25 8.50 8.13
2-Week 7.60 8.35 8.50 8.75 8.30
1-Month 7.50 7.75 8.15 8.40 7.95
2-Months 7.65 7.90 8.25 8.50 8.08
3-Months 7.75 8.25 8.50 9.00 8.38
4-Months 7.85 8.35 8.75 9.00 8.49
5-Months 8.00 8.40 8.85 9.25 8.63
6-Months 8.15 8.50 8.90 9.40 8.74
9-Months 8.25 8.60 9.00 9.50 8.84
1-Year 8.50 9.00 9.25 9.50 9.06
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RUPEE IN LAHORE: The rupee further depreciated its worth by 10 paisa in relation to the greenback in the local currency markets on Thursday.
According to the currency dealers, the dollar resumed trading at Rs 60.80 and Rs 60.90 on buying and selling sides, respectively. As a result of expansion in demand for dollar, its rate moved up and finally closed higher at Rs 60.85 and Rs 60.95 on buying and selling counters, respectively, as compared to Rs 60.75 and Rs 60.85 of Wednesday, the dealers said.
The rupee, however, showed strength, and recovered some of its earlier loss against the pound sterling. The British pound was purchased at Rs 111.20, and sold at Rs 111.50 as compared to Rs 111.40 and Rs 111.90 of Wednesday, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi on Thursday.
The dollar opened at Rs 60.65 (buying) and Rs 60.75 (selling) against same last rate. It did not observe any further change in the second spell and closed at Rs 60.65 (buying) and Rs 60.75 (selling).
Pound sterling opened at Rs 111 (buying) and Rs 111.20 (selling) against same previous rate. It did not observe any change in the second session and closed at Rs 111 (buying) and Rs 111.20 (selling).
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