The dollar demand was up slightly versus the rupee in the interbank market on Monday due to tight supplies, losing two paisa for buying and selling at 60.29 and 60.31, respectively. The dollar supply was tight due to international closure, the rupee would recover its losses after the supply eases, but it is feared that the dollar may move up on strong demand by the corporate sector, dealers said.
In the world markets dollar was down versus a basket of currencies on anticipation that the Federal Reserve may pause the US interest rate, they said.
OPEN MARKET RATES: Against the interbank trend, the rupee managed to recover 12 paisa in relation to the dollar for buying and selling at 60.58 and 60.63, respectively. The rupee also gained eight paisa versus the euro for buying and selling at Rs 77.26 and Rs 77.36, respectively.
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Buying Rs 60.58
Selling Rs 60.63
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Monday.
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Buying Rs 60.29
Selling Rs 60.31
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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 8.75 8.75 8.90 8.73
1-Week 8.00 8.40 8.30 8.60 8.33
2-Weeks 8.25 8.50 8.40 8.65 8.45
1-Month 8.40 8.60 8.50 8.70 8.55
2-Months 8.40 8.65 8.50 8.75 8.58
3-Months 8.65 8.70 8.70 8.85 8.73
4-Months 8.50 8.55 8.60 8.75 8.60
5-Months 8.55 8.60 8.65 8.80 8.65
6-Months 8.70 8.80 8.80 8.90 8.80
9-Months 8.80 9.00 9.00 9.20 9.00
1-Year 9.00 9.15 9.25 9.30 9.18
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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 9.25 9.75 9.50 10.25 9.69
1-Week 8.50 8.75 8.75 9.00 8.75
2-Weeks 8.65 8.75 9.00 9.40 8.95
1-Month 9.55 9.75 10.00 10.25 9.89
2-Months 9.60 9.80 10.10 10.40 9.98
3-Months 9.65 9.85 10.20 10.50 10.05
4-Months 9.70 9.90 10.25 10.70 10.14
5-Months 9.75 10.00 10.30 10.75 10.20
6-Months 9.75 10.25 10.35 11.00 10.34
9-Months 10.00 10.30 10.50 11.00 10.45
1-Year 10.20 10.50 11.00 11.25 10.74
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RUPEE IN LAHORE: The rupee opened the week on a positive note, as it appreciated its value by five-paisa in relation to the greenback in the local currency markets.
According to the currency dealers, the dollar resumed trading at Saturday's closing rates of Rs 60.70 and Rs 60.80 on buying and selling counters, respectively. As a result of increase in dollar's supply, the dollar moved down and closed at Rs 60.65 and Rs 60.75 on buying and selling sides, respectively, the dealers added.
However, the local currency remained under pressure and further lost its worth against the pound sterling. The pound's buying rate marginally improved from previous closing rate of Rs 114.20 to Rs 114.25, while selling rate remained unchanged at Rs 114.60, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee gained 35 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi on Monday.
The dollar resumed trading at Rs 60.55 (buying) and Rs 60.65 (selling) against last week's rate of Rs 60.90 (buying) and Rs 61 (selling). It did not observe any further change in the evening session and closed at Rs 60.55 (buying) and Rs 60.65 (selling).
Pound sterling opened at opened at Rs 114.50 (buying) and Rs 115.70 (selling) against same last rate. It did not witness any change in the second session and closed at Rs 114.50 (buying) and Rs 115.70 (selling).
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