The rupee commenced the week on a firm note, showing no major change versus the dollar in the interbank market on Tuesday for buying and selling at 60.06 and 60.07, respectively.
All the commercial centres reopened on Tuesday after observing holiday on account of May Day on Monday, dealers said.
Persisting demand for dollars did not allow the rupee to expand ground significantly, money. It is expected that the rupee may show mixed trend versus the dollar in the short run, it is likely that the rupee depict some vulnerability due to year-end payments for the import bills, they added.
In the international markets, the dollar made slight recovery in relation to the other major currencies after a report that the Federal Reserve chief said that the markets had misread his congressional testimony last week.
OPEN MARKET RATES: In the meantime, the rupee failed to maintain its firmness versus the dollar, shedding five paisa for buying and four paisa for selling at 60.17 and 60.22 in process of trading, dealers said.
The rupee managed to recover 20 paisa versus the euro for buying and selling at Rs 75.15 and Rs 75.20 as the single European currency slid in terms of the dollar in the world markets, dealers said.
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Buying Rs 60.17
Selling Rs 60.22
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Tuesday.
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Buying Rs 60.05
Selling Rs 60.06
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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 8.90 8.95 8.90 8.95 8.93
1-Week 8.80 8.90 8.85 8.95 8.88
2-Week 8.75 8.85 8.85 8.90 8.84
1-Month 8.75 8.85 8.85 8.90 8.84
2-Months 8.65 8.75 8.70 8.80 8.73
3-Months 8.70 8.80 8.80 8.85 8.79
4-Months 8.65 8.75 8.75 8.80 8.74
5-Months 8.65 8.75 8.75 8.80 8.74
6-Months 8.65 8.75 8.75 8.85 8.75
9-Months 8.70 8.80 8.80 8.90 8.80
1-Year 8.75 8.80 8.85 8.90 8.83
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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 9.00 9.25 9.35 9.50 9.28
1-Week 9.00 9.40 9.25 9.60 9.31
2-Week 9.00 9.40 9.20 9.60 9.30
1-Month 9.00 9.40 9.25 9.50 9.29
2-Months 8.90 9.25 9.10 9.50 9.19
3-Months 9.25 9.60 9.50 9.75 9.53
4-Months 9.15 9.50 9.40 9.75 9.45
5-Months 9.20 9.60 9.50 9.80 9.53
6-Months 9.25 9.60 9.55 9.80 9.55
9-Months 9.50 10.00 9.80 10.25 9.89
1-Year 9.60 10.00 9.80 10.25 9.91
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RUPEE IN LAHORE: The rupee maintained upward trend and appreciated its worth by 5-paisa in relation to the greenback in the local currency markets, on Tuesday.
According to the currency dealers, the dollar resumed trading at Saturday's rates of Rs 60.15 and Rs 60.25 on buying and selling counters, respectively. In the absence of buyers, the dollar could not sustain and moved down to Rs 60.10 and Rs 60.20 on buying and selling sides, respectively, the dealers said.
However, the local currency remained under pressure and lost its value against the pound sterling. The British pound was purchased at Rs 109.30 and was sold at Rs 109.70 as compared to Rs 108.80 and Rs 109.20 of Saturday, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee was up by 15 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi on Tuesday.
The dollar opened at Rs 60.15 (buying) and Rs 60.25 (selling) against last rate of Rs 60.30 (buying) and Rs 60.40 (selling). It did not observe any further change in the evening session and closed at Rs 60.15 (buying) and Rs 60.25 (selling).
Pound sterling opened at Rs 109.70 (buying) and Rs 109.90 (selling) against last rate of Rs 107 (buying) and Rs 107.20 (selling). It did not observe any change and closed at Rs 109.70 (buying) and Rs 109.90 (selling).
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