Handsome recovery was seen in the interbank market on Wednesday as the rupee gained further four paisa for buying and selling at 59.77 and 59.78, dealers said.
Dollar's selling in the market helped the rupee to recover its lost ground, dealers said. In fact, dollar demand was high as the corporate sector needed for the payment of import bills, they said.
In the world markets, dollar was firm versus the major currencies in the absence of fresh leads, dealers said.
OPEN MARKET RATES: Against the interbank trend, the rupee, however, shed three paisa for buying at 60.15 and slid two paisa for selling at 60.22, they said.
The rupee, however, gained 10 paisa versus the euro for buying and selling at 70.40 and 70.50, dealers said.
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Kerb Buying Rs 60.15
Kerb Selling Rs 60.22
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Wednesday.
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Buying Rs 59.77
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 8.50 8.80 8.50 8.90 8.68
1-Week 8.25 8.30 8.40 8.60 8.39
2-Week 8.10 8.35 8.50 8.70 8.41
1-Month 8.25 8.40 8.50 8.65 8.45
2-Months 8.35 8.45 8.55 8.65 8.50
3-Months 8.35 8.50 8.50 8.65 8.50
4-Months 8.40 8.50 8.50 8.65 8.51
5-Months 8.40 8.50 8.50 8.70 8.53
6-Months 8.40 8.50 8.55 8.70 8.54
9-Months 8.45 8.55 8.55 8.70 8.56
1-Year 8.50 8.55 8.60 8.75 8.60
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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 9.15 9.75 9.25 10.00 9.54
1-Week 8.90 9.50 9.25 9.75 9.35
2-Week 8.60 9.25 9.25 9.75 9.21
1-Month 8.75 9.50 9.50 10.00 9.44
2-Months 8.75 9.25 9.25 9.75 9.25
3-Months 9.00 9.50 9.75 9.90 9.54
4-Months 9.00 9.50 9.35 9.80 9.41
5-Months 8.90 9.60 9.50 10.00 9.50
6-Months 9.00 9.75 9.50 10.00 9.56
9-Months 9.00 9.75 9.60 10.20 9.64
1-Year 9.25 10.00 9.90 10.50 9.91
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RUPEE IN LAHORE: The rupee remained firm and recovered its earlier loss showing marginal improvement of two-paisa in its value in relation to the greenback in the local currency markets on Wednesday.
According to the currency dealers, the dollar resumed trading at Rs 60.12 and Rs 60.22 as its buying and selling rates, respectively. However, the greenback could not sustain and moved down due to lacking buying support. At the end of trading, the dollar closed at Rs 60.10 and Rs 60.20 on buying and selling counters, respectively, the dealers added.
However, the local currency remained under pressure and depreciated its worth against the pound sterling. The pound's buying rate improved from Tuesday's closing rate of Rs 103.60 to Rs 103.80 while selling rate increased from Rs 103.90 to Rs 104.10, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The buying and selling rates of the dollar against the rupee remained unchanged in the open currency markets of Islamabad and Rawalpindi on Wednesday.
The dollar opened at Rs 60.35 (buying) and Rs 60.45 (selling) against the last rate. It did not observe any change in the second session, and closed at Rs 60.35 (buying) and Rs 60.45 (selling).
Pound sterling opened at Rs 103.70 (buying) and Rs 104 (selling) against the overnight value. It did not observe any further change in the second session, and closed at Rs 103.70 (buying) and Rs 104 (selling).
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