Divergent trend was seen in the local currency market on Monday amid tight supply of dollars, dealers said. The rupee gave up its overnight weakness by gaining three paisa against the dollar, for buying and selling at 60.26 and 60.28 respectively in the interbank market.
The rupee recovered some losses on the back of modest demand for the dollar, but according to the some moneychangers the demand may increase from the corporate sector due to making the payments. In the world markets, the dollar firmly held its gains versus the yen and euro on tensions over the Middle East situation, dealers said.
OPEN MARKET RATES: The rupee failed to maintain its firmness versus the dollar, slipping three paisa for buying and selling at 60.73 and 60.78, dealers said. The rupee also shed 11 paisa versus the euro for buying and selling at 76.64 and Rs 76.74 in process of trading, dealers said.
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Buying Rs 60.73
Selling Rs 60.78
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Monday.
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Buying Rs 60.26
Selling Rs 60.28
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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 8.75 8.95 8.90 8.95 8.89
1-Week 8.25 8.60 8.50 8.75 8.53
2-Weeks 8.00 8.25 8.25 8.50 8.25
1-Month 8.00 8.25 8.25 8.50 8.25
2-Months 8.25 8.45 8.35 8.55 8.40
3-Months 8.25 8.50 8.35 8.60 8.43
4-Months 8.30 8.50 8.40 8.60 8.45
5-Months 8.35 8.50 8.45 8.60 8.48
6-Months 8.40 8.60 8.50 8.65 8.54
9-Months 8.50 8.65 8.60 8.75 8.63
1-Year 8.70 8.80 8.75 8.85 8.78
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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 8.90 9.25 8.95 9.50 9.15
1-Week 8.50 8.90 8.75 9.25 8.85
2-Weeks 8.50 9.00 8.75 9.25 8.88
1-Month 8.50 9.25 8.75 9.40 8.98
2-Months 8.60 9.25 8.80 9.40 9.01
3-Months 8.75 9.40 9.15 9.50 9.20
4-Months 8.90 9.40 9.25 9.60 9.29
5-Months 9.00 9.50 9.25 9.60 9.34
6-Months 9.10 9.50 9.25 9.75 9.40
9-Months 9.25 9.75 9.60 10.00 9.65
1-Year 9.50 9.75 9.75 10.25 9.81
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RUPEE IN LAHORE: The rupee failed to maintain previous week's position and marginally lost its worth by 5-paisa in relation to the greenback in the local currency markets on Monday.
According to the currency dealers, the dollar resumed trading at Saturday's closing rates of Rs 60.75 and Rs 60.85 on buying and selling sides, respectively. As a result of slight increase in dollar's demand, its rate moved up and finally closed at Rs 60.80 and Rs 60.90 as its buying and selling rates, respectively, the dealers added.
Similarly, the local currency rupee showed strength and appreciated its worth against the pound sterling. The British pound was purchased at Rs 110.60 and was sold at Rs 111.00 as compared to Rs 111.80 and Rs 112.10 of Saturday, 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 Monday.
The dollar opened at Rs 60.80 (buying) and Rs 60.90 (selling) against same last week's rate. It did not observe any further change in the second session and closed at Rs 60.80 (buying) and Rs 60.90 (selling).
Pound sterling opened at Rs 111.50 (buying) and Rs 111.80 (selling) against same last week's rate. It did not observe further fluctuation and closed at Rs 111.50 (buying) and Rs 111.80 (selling).
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