Bullish trend was seen in the interbank market on Thursday as the rupee shed three paisa versus the dollar for buying and selling at 60.11 and 60.13, dealers said. Increased demand for dollar forced the rupee to give up its gains in process of trading.
Some payments were to be made so banks bought nearly 20-30 million dollars to clear the import bills, money experts said. In the world markets, rate hike speculations kept the dollar firm versus other major currencies, they said.
OPEN MARKET RATES: The rupee followed suit slipping down seven paisa versus the dollar for buying and selling at 60.52 and 60.57 due to strong demand for the greenback, they added. Versus the eruo, the rupee lost some ground for buying and selling at Rs 76.80 and Rs 76.90, respectively.
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Buying Rs 60.52
Selling Rs 60.57
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Thursday.
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Buying Rs 60.11
Selling Rs 60.13
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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 8.70 8.85 8.71
1-Week 8.30 8.35 8.40 8.50 8.39
2-Weeks 8.30 8.40 8.50 8.55 8.44
1-Month 8.30 8.50 8.40 8.60 8.45
2-Months 8.30 8.55 8.35 8.65 8.46
3-Months 8.30 8.50 8.40 8.65 8.46
4-Months 8.25 8.50 8.35 8.60 8.43
5-Months 8.40 8.55 8.50 8.65 8.53
6-Months 8.50 8.60 8.65 8.70 8.61
9-Months 8.60 8.75 8.75 8.85 8.74
1-Year 8.70 8.80 8.80 8.85 8.79
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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 8.75 8.90 8.85 9.00 8.88
1-Week 8.55 8.70 8.65 8.85 8.69
2-Weeks 8.65 8.80 8.85 9.10 8.85
1-Month 8.75 9.00 8.90 9.25 8.98
2-Months 8.90 9.25 9.10 9.50 9.19
3-Months 9.00 9.40 9.25 9.60 9.31
4-Months 9.10 9.40 9.25 9.75 9.38
5-Months 9.25 9.50 9.40 9.75 9.48
6-Months 9.35 9.60 9.50 9.75 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 downward trend and further lost its worth by five-paisa in relation to the greenback in the local currency markets on Thursday.
According to the currency dealers, the dollar recorded marginal increase in its demand, which pushed down the value of local currency.
The dollar resumed trading at overnight closing rates of Rs 60.40 and Rs 60.50 as its buying and selling rates, respectively. At the end of trading, the dollar was closed at Rs 60.45 and Rs 60.55 on buying and selling sides, respectively, the dealers added.
However, the local currency continued rising trend and improved its value against the pound sterling. The pound's buying rate declined from previous closing rate of Rs 112.15 to Rs 111.50 while selling rate moved down from Rs 112.45 to Rs 111.80, 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 twin cities of Islamabad and Rawalpindi on Thursday.
The dollar opened at Rs 60.40 (buying) and Rs 60.50 (selling) against same last rate. It did not observe any further change in the evening session and closed at Rs 60.40 (buying) and Rs 60.50 (selling).
Pound sterling opened at Rs 112.25 (buying) and Rs 112.80 (selling) against same previous rate. It did not witness fluctuation by the end of evening session and closed at Rs 112.25 (buying) and Rs 112.80 (selling).
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