The rupee extended its weekend's fall versus the dollar in the interbank market on Monday, losing five paisa on the buying side at Rs 59.75 and three paisa on the selling counter at 59.78, dealers said. According to the market sources the rupee drifted lower on increasing demand for dollars by the corporate sector.
They said that the rupee might see further erosion versus the US currency before the end of the out-going fiscal year.
In the world markets, according to the Reuters, the Japanese currency lost its value against the euro and also inched closer to an eight-month low against the dollar as China insisted that it would not be bullied into re-valuing its currency.
OPEN MARKET RATES: The euro managed to continue its recovery versus the rupee, gaining 15 paisa on the buying side at Rs 72.85 and picking up 30 paisa on the selling side at Rs 73.00, dealers said.
The rupee gaine two paisa against the dollar for buying and selling at 60.40 and 60.45 in the process of trading, market sources 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 Monday.
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BUYING Rs 59.75
SELLING Rs 59.78
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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 8.90 8.95 8.90 8.95 8.93
1-Week 8.75 8.90 8.90 8.95 8.88
2-Week 8.50 8.65 8.75 8.90 8.70
1-Month 7.55 7.75 8.00 8.25 7.89
2-Months 7.35 7.50 7.75 8.00 7.65
3-Months 7.40 7.65 7.85 8.00 7.73
4-Months 7.45 7.75 8.00 8.15 7.84
5-Months 7.65 7.85 8.10 8.25 7.96
6-Months 7.80 8.00 8.15 8.40 8.09
9-Months 7.90 8.15 8.45 8.60 8.28
1-Year 8.25 8.50 8.75 9.00 8.63
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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 9.00 9.25 9.50 9.75 9.38
1-Week 9.00 9.25 9.25 9.50 9.25
2-Week 8.75 8.90 9.00 9.50 9.04
1-Month 8.00 8.25 8.50 8.75 8.38
2-Months 7.75 8.00 8.25 8.50 8.13
3-Months 7.85 8.15 8.35 8.50 8.21
4-Months 7.90 8.25 8.50 8.65 8.33
5-Months 8.10 8.35 8.60 8.36 8.35
6-Months 8.25 8.50 8.75 9.00 8.63
9-Months 8.40 8.65 8.90 9.20 8.79
1-Year 8.75 9.00 9.15 9.30 9.05
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RUPEE IN LAHORE: The rupee opened the week on a negative note, as it lost five-paisa in relation to the greenback in the local currency markets.
According to the currency dealers, the dollar commenced trading at Saturday's closing rates of Rs 60.50 and Rs 60.60 on buying and selling rates, respectively. The greenback maintained upward move and closed higher at Rs 60.55 and Rs 60.65 on buying and selling counters, respectively, the dealers added.
However, the local currency showed strength and improved its worth against the pound sterling. The British pound was purchased at Rs 109.50 and was sold at Rs 110.00 as compared to Rs 109.80 and Rs 110.20 of Saturday, 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 60.40 (buying) and Rs 60.50 (selling) in the morning session. It did not observe any further fluctuation in the evening session and closed at Rs 60.40 (buying) and Rs 60.50 (selling).
Pound sterling opened at Rs 109.50 (buying) and Rs 109.80 (selling) against last rate of Rs 110 (buying) and Rs 110.40 (selling). It did not observe any change in the second session and closed at Rs 109.50 (buying) and Rs 109.80 (selling).
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