Rising demand by the corporate sector pushed the rupee into the minus column, falling nine paisa against the dollar in the interbank market for buying and selling at 60.13 and 60.15, currency experts said.
During the day, at a time the rupee touched the low level of 60.20 due to hectic buying of dollars to meet the import bills, they added. In fact, forward purchasing of the greenback was another adding factor behind the sharp decline of the local currency, they said. National and overseas banks were active and bought nearly 40-50 million dollars, they said.
Mixed price pattern was witnessed in the international markets as the dollar fell versus the euro and gained in relation to the yen, they said.
OPEN MARKET RATES: The rupee was intact in the open market in terms of the dollar for buying and selling at 60.10 and 60.15, dealers said.
The rupee, however, gave up its firmness versus the euro, falling sharply by 70 paisa for buying and selling at Rs 72.15 and Rs 72.25, respectively.
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Buying Rs 60.10
Selling Rs 60.15
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Wednesday.
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Buying Rs 60.13
Selling Rs 60.15
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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 6.00 7.50 6.50 7.75 6.94
1-Week 7.75 8.00 7.90 8.10 7.94
2-Week 7.90 8.05 8.10 8.15 8.05
1-Month 8.05 8.25 8.15 8.35 8.20
2-Months 8.15 8.35 8.25 8.40 8.29
3-Months 8.20 8.35 8.25 8.50 8.33
4-Months 8.25 8.50 8.40 8.60 8.44
5-Months 8.35 8.55 8.45 8.70 8.51
6-Months 8.40 8.60 8.50 8.75 8.56
9-Months 8.40 8.70 8.60 8.75 8.61
1-Year 8.50 8.75 8.65 8.90 8.70
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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 6.75 7.75 7.25 8.00 7.44
1-Week 8.00 8.50 8.25 8.75 8.38
2-Week 8.25 8.75 8.50 8.90 8.60
1-Month 8.75 9.25 9.00 9.50 9.13
2-Months 8.75 9.40 9.00 9.60 9.19
3-Months 8.85 9.50 9.10 9.60 9.26
4-Months 8.90 9.75 9.25 9.80 9.43
5-Months 8.90 9.75 9.30 9.90 9.46
6-Months 9.25 9.90 9.50 10.25 9.73
9-Months 9.40 10.00 9.75 10.25 9.85
1-Year 9.50 10.00 9.75 10.25 9.88
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RUPEE IN LAHORE: The rupee remained under pressure and further lost its value by 10-paisa in relation to the greenback in the local currency markets on Wednesday.
According to the currency dealers, the dollar resumed trading at Rs 60.20 and Rs 60.30 as its buying and selling rates, respectively. The greenback witnessed increase in its demand which pushed down the value of local currency. The dollar maintained upward trend during the days' trading and finally closed at Rs 60.25 and Rs 60.35 on buying and selling counters, respectively, against Rs 60.15 and Rs 60.25 of Tuesday, the dealers said.
Similarly, the local currency failed to come out of pressure and further moved down against the pound sterling. The British pound was purchased at Rs 104.60 and was sold at Rs 105.00 as compared to Rs 104.20 and Rs 104.50 of Tuesday, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar surged by 20 paisa against the rupee at the local currency shops of Islamabad and Rawalpindi on Tuesday.
The dollar opened at Rs 60.20 (buying) and Rs 60.30 (selling) against last rate of Rs 60 (buying) and Rs 60.10 (selling). It did not observe any further change in the second spell and closed at Rs 60.20 (buying) and Rs 60.30 (selling).
The pound sterling opened at Rs 104.90 (buying) and Rs 105.10 (selling) against last rate of Rs 104 (buying) and Rs 104.50 (selling). It did not observe any further change in the second spell and closed at Rs 104.90 (buying) and Rs 105.10 (selling).
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