Upward trend reappeared in the interbank market on Thursday as the rupee recovered 12 paisa versus the dollar for buying and selling at 60.01 and 60.03 on easy supply of the greenback, experts said.
This was the biggest gain in a single day rally as a result of dollar selling by the exporters and rising trend in the remittances, they said.
In the world markets, the dollar managed to gain against the yen but it moved both ways versus the euro on expectations that the European Central Bank (ECP) may raise interest rates, market players said.
The euro strengthened during the week on the back of dollar's weakness, they added.
OPEN MARKET RATES: The rupee failed to maintain firm trend versus the dollar, shedding three paisa for buying and selling at 60.15 and 60.20, dealers said.
The rupee also lost 20 paisa versus the euro for buying at Rs 73.50 and lost 15 paisa for selling at Rs 73.55 as the single European currency managed to hold overnight gains, they said.
================================
Buying Rs 60.15
Selling Rs 60.20
================================
INTERBANK CLOSING RATES: Interbank closing rates for dollar on Thursday.
==============================
Buying Rs 60.01
Selling Rs 60.03
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 8.50 8.90 8.75 8.90 8.76
1-Week 8.40 8.60 8.50 8.70 8.55
2-Week 8.40 8.50 8.55 8.65 8.53
1-Month 8.40 8.60 8.50 8.65 8.54
2-Months 8.35 8.50 8.45 8.65 8.49
3-Months 8.35 8.55 8.50 8.70 8.53
4-Months 8.35 8.60 8.50 8.70 8.54
5-Months 8.40 8.60 8.55 8.70 8.56
6-Months 8.45 8.65 8.60 8.75 8.61
9-Months 8.45 8.70 8.60 8.75 8.63
1-Year 8.60 8.80 8.75 8.90 8.76
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 8.80 9.30 8.90 9.40 9.10
1-Week 8.75 9.25 9.00 9.40 9.10
2-Week 9.75 9.25 9.00 9.50 9.38
1-Month 8.90 9.25 9.10 9.50 9.19
2-Months 8.75 9.40 9.10 9.50 9.19
3-Months 8.90 9.40 9.10 9.60 9.25
4-Months 9.00 9.50 9.25 9.75 9.38
5-Months 9.10 9.60 9.35 9.80 9.46
6-Months 9.25 9.60 9.35 9.80 9.50
9-Months 9.50 10.00 9.80 10.25 9.89
1-Year 9.60 10.00 9.80 10.25 9.91
=================================================================
RUPEE IN LAHORE: The rupee marginally depreciated its value by 3 paisa on buying side at Rs 60.08 while remained unchanged on selling side at Rs 60.15 in relation to the greenback in the local currency markets on Thursday.
According to the currency dealers, the dollar's trading commenced at overnight closing rates of Rs 60.05 and Rs 60.15 on buying and selling sides, respectively.
The opening rates prevailed almost throughout the day. At the end of trading, the greenback moved up and closed at Rs 60.08 and Rs 60.15 on buying and selling counters, respectively, the dealers added.
However, the local currency maintained downward slide and further depreciated its worth against the pound sterling. The pound's buying rate further improved from Wednesday's closing rate of Rs 104.60 to Rs 104.85, while selling rate moved up from Rs 105.10 to Rs 105.12, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI:
The buying and selling rates of dollar against the rupee remained unchanged at the open currency markets of Islamabad and Rawalpindi on Thursday.
The dollar resumed trading at Rs 60.20 (buying) and Rs 60.30 (selling) against same overnight value. It did not observe any change in the evening session and closed at Rs 60.20 (buying) and Rs 60.30 (selling).
Pound sterling opened at Rs 103.80 (buying) and Rs 104 (selling) against same last rate. It did not witness any further change in the evening session and closed at Rs 103.80 (buying) and Rs 104 (selling).
Comments
Comments are closed.