THE RUPEE: falling trend observed

Divergent trend was seen in the open market on Thursday amid modest trading, dealers said.
Sliding trend was again witnessed in the open market as the rupee shed five paisa against the dollar for buying at 60.05 and slid 10 paisa for selling at 60.15, respectively.
Due to dollar buying pressure, the rupee lost its value modestly, dealers said. Banks were purchasing dollar from the open market after facing dearth of dollar like situation, they observed.
Versus the euro, the rupee gained 25 paisa for buying and selling at Rs 69.70 and Rs 69.80 in process of trading, they said.
In the world markets, the dollar has given up its overnight weakness, gaining lost ground versus the leading currencies as an economic data showed that the US was attracting more than enough investment to finance its gaping trade deficit.
Net flows of foreign capital into the US assets surged to a record 101.9 billion dollars in September, well above expectations and more than enough to cover a record trade deficit of 66.1 billion dollars that month.
INTERBANK RATES: The rupee maintained its overnight level versus the dollar for buying and selling at 59.86 and 59.87, respectively.

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Kerb Buying             Rs 60.05

Kerb Selling            Rs 60.15

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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Thursday.

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Buying                Rs 59.86

Selling               Rs 59.87

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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       7.00       2.50        7.25           4.69

1-Week      6.50       7.50       7.75        8.25           7.50

2-Week      7.50       7.75       8.00        8.25           7.88

1-Month     7.75       7.90       8.00        8.15           7.95

2-Months    8.10       8.25       8.30        8.40           8.26

3-Months    8.20       8.30       8.25        8.50           8.31

4-Months    8.25       8.35       8.40        8.60           8.40

5-Months    8.35       8.40       8.50        8.65           8.48

6-Months    8.40       8.45       8.55        8.70           8.53

9-Months    8.50       8.55       8.60        8.75           8.60

1-Year      8.55       8.60       8.65        8.80           8.65

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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   2.50       6.75       3.75        7.00           5.00

1-Week      6.50       7.50       8.25        8.75           7.75

2-Week      7.75       8.75       8.50        9.25           8.56

1-Month     8.25       9.25       8.75        9.50           8.94

2-Months    8.25       9.25       8.75        9.75           9.00

3-Months    8.50       9.60       9.00       10.00           9.28

4-Months    8.70       9.25       9.20       10.05           9.30

5-Months    8.90       9.50       9.45       10.10           9.49

6-Months    8.70       9.50       9.20       10.15           9.39

9-Months    8.90       9.75       9.50       10.20           9.59

1-Year      9.25      10.00       9.70       10.50           9.86

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RUPEE IN LAHORE: The rupee 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 witnessed increase in its demand, which pushed down value of the local currency. The dollar's trading commenced at Rs 59.95 and Rs 60.05 on buying and selling counters, respectively. The greenback kept moving up during the day and finally closed at Rs 60.00 and Rs 60.10 on buying and selling sides, respectively against Rs 59.90 and Rs 60.10 of Wednesday, the dealers added.
However, the local currency maintained upward slide and further improves its value against the pound sterling. The pound's buying rate moved down from previous closing rate of Rs 103.40 to Rs 103.00 while selling rate declined from Rs 103.90 to Rs 103.60, 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 Thursday.
The dollar opened at Rs 59.85 (buying) and Rs 59.95 (selling) against same previous rate. It did not observe any further change by the end of second session and closed at Rs 59.85 (buying) and Rs 59.95 (selling).
Pound sterling opened at Rs 103.25 (buying) and Rs 103.55 (selling) against same previous rate. It did not observe any change in the second session and closed at Rs 103.25 (buying) and Rs 103.55 (selling).
Copyright Business Recorder, 2005