The rupee on Thursday maintained a firm posture, showing just one paisa fall versus the dollar at 59.70 and 59.71 despite rising demand for dollar by the corporate sectors, moneychangers said. Since the week started, the rupee is in plus zone due to high inflows of dollar by the overseas Pakistanis, they said.
In the world markets, the dollar failed to retain its firmness, slipping further from two-month highs against the yen as foreign investors helped drive Tokyo share indices to new four-year highs and took heart from Japan's brightening economic outlook.
OPEN MARKET RATES: The rupee maintained firm position versus the US currency for buying and selling at 60.30 and 60.40, respectively.
Versus the euro, the local currency followed suit on the buying and selling counters at Rs 72.60 and Rs 72.80, dealers said.
They were of the opinion that the single European currency is likely to show softness in terms of the rupee for the near future.
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Kerb Buying Rs 60.30
Kerb Selling Rs 60.40
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Thursday.
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BUYING Rs 59.70
SELLING Rs 59.71
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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 4.50 7.75 5.00 8.00 6.31
1-Week 7.00 7.25 7.50 7.75 7.38
2-Week 7.50 7.70 7.85 7.90 7.74
1-Month 7.60 7.75 7.85 8.00 7.80
2-Months 7.80 7.90 7.90 8.10 7.93
3-Months 7.90 8.00 8.10 8.20 8.05
4-Months 8.15 8.25 8.35 8.50 8.31
5-Months 8.20 8.30 8.40 8.50 8.35
6-Months 8.20 8.35 8.30 8.50 8.34
9-Months 8.30 8.60 8.55 8.65 8.53
1-Year 8.40 8.50 8.75 8.90 8.64
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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 5.00 7.00 6.00 7.50 6.38
1-Week 7.50 7.75 8.00 8.25 7.88
2-Week 7.75 8.00 8.20 8.35 8.08
1-Month 8.00 8.75 8.40 9.00 8.54
2-Months 8.20 8.85 8.50 9.00 8.64
3-Months 8.30 9.00 8.65 9.25 8.80
4-Months 8.50 9.25 8.80 9.30 8.96
5-Months 8.40 9.00 8.80 9.40 8.90
6-Months 8.50 9.25 8.95 9.50 9.05
9-Months 8.75 9.40 9.30 9.60 9.26
1-Year 9.00 9.50 9.60 9.75 9.46
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RUPEE IN LAHORE: The rupee maintained upward trend and further appreciated its worth by five paisa in relation to the greenback in the local currency markets on Thursday.
According to the currency dealers, the dollar remained under selling pressure, which helped the rupee improve its worth. The dollar's trading commenced at overnight closing rates of Rs 60.40 and Rs 60.50 on buying and selling sides, respectively. After moving down, the dollar closed at Rs 60.35 and Rs 60.45 on buying and selling counters, respectively, the dealers said.
Likewise, the rupee further appreciated its worth against the pound sterling. The pound's buying rate declined from previous closing rate of Rs 106.80 to Rs 106.70, while its selling rate moved down from Rs 107.20 to Rs 107.10, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar in the open currency markets of Islamabad and Rawalpindi on Thursday.
The dollar opened at Rs 60.30 (buying) and Rs 60.40 (selling) in the morning session. It did not observe any further change in the evening session, and closed at Rs 60.30 (buying) and Rs 60.40 (selling).
Pound sterling opened at Rs 107 (buying) and Rs 107.40 (selling) in the first session. It did not show any further change by the end of second session, and closed at Rs 107 (buying) and Rs 107.40 (selling).
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