Sliding trend was seen in the open market on Monday as the rupee shed five paisa in relation to the dollar for buying and selling at 60.15 and 60.25, respectively.
Higher demand for dollars kept the rupee under pressure, but it seems that rising remittances on the occasion of Eid-ul-Azha and selling of export proceeds may help the rupee for the time being, money experts said.
Nothing was new as all the leading banks indulged in buying of dollar to meet the oil and other major payment at the end of the year, they added.
The rupee also lost 10 paisa against the euro for buying and selling at Rs 71.90 and Rs 72.00 due to commanding position of the single European currency in the world markets, they said. In the world markets, the dollar recovered from the seven-week low against most of the currencies, they said.
INTERBANK RATES: The rupee managed to retain it week-end level versus the dollar for buying and selling at 59.89 and 59.91, dealers said.
Persisting demand for dollars did not allow it to look any side, they added.
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Kerb Buying Rs 60.15
Kerb Selling Rs 60.25
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Monday.
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Buying Rs 59.89
Selling Rs 59.91
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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 8.50 8.00 8.75 8.19
1-Week 7.50 7.75 7.75 8.00 7.75
2-Week 7.50 7.75 7.75 8.25 7.81
1-Month 8.00 8.15 8.30 8.40 8.21
2-Months 8.10 8.25 8.25 8.35 8.24
3-Months 8.10 8.25 8.30 8.40 8.26
4-Months 8.15 8.30 8.30 8.40 8.29
5-Months 8.20 8.35 8.40 8.50 8.36
6-Months 8.20 8.35 8.40 8.60 8.39
9-Months 8.40 8.50 8.55 8.60 8.51
1-Year 8.50 8.55 8.60 8.70 8.59
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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 8.50 9.00 9.00 9.50 9.00
1-Week 7.75 8.00 8.25 8.50 8.13
2-Week 7.75 8.00 8.25 8.75 8.19
1-Month 9.25 9.75 9.50 10.25 9.69
2-Months 9.00 9.50 9.00 10.00 9.38
3-Months 8.75 9.25 9.25 9.75 9.25
4-Months 8.75 9.25 9.35 9.75 9.28
5-Months 8.90 9.50 9.50 10.00 9.48
6-Months 9.00 9.60 9.50 10.00 9.53
9-Months 9.00 9.75 9.60 10.20 9.64
1-Year 9.25 10.00 9.75 10.25 9.81
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RUPEE IN LAHORE: The rupee maintained its Saturday's closing rates in relation to the greenback in the local currency markets on Monday.
According to the currency dealers, the dollar's trading commenced at Saturday's closing rates of Rs 60.10 and Rs 60.20 on buying and selling counters, respectively. The greenback moved up fractionally, but could not sustain and closed down to the opening levels, the dealers said. However, trading volume remained considerably low due to lacking fluctuation in the greenback's value, they maintained.
On the contrary, the rupee remained strong and appreciated its worth against the pound sterling. The British pound was purchased at Rs 105.70, and sold at Rs 106.00 as compared to previous closing rates of Rs 106.00 and Rs 106.30, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar in the open currency markets of Islamabad and Rawalpindi on Monday.
The dollar opened at Rs 60.45 (buying) and Rs 60.55 (selling) against the last week's rate. It did not witness any further change in the evening session, and closed at Rs 60.45 (buying) and Rs 60.55 (selling).
The pound sterling opened at Rs 106 (buying) and Rs 106.40 (selling) against the last week's rate. It did not observe any further change in the second spell, and closed at Rs 106 (buying) and Rs 106.40 (selling).
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