Bearish sentiment was seen in the open market on Saturday as the rupee dropped versus the dollar, shedding 10 paisa for buying at 60.65 and slid five paisa for selling at 60.70, respectively.
Big gap between the imports and exports may push up the dollars' demand in the coming days." We can see increased rush of the importers to meet the payment requirements", money experts said. The rupee, however, gained 39 paisa against the euro for buying and selling at Rs 76.30 and Rs 76.40 as the single European currency failed to maintain its firmness in the world markets, dealers said. In the globe the dollar strengthened broadly after upward revisions to US job growth data helped ease worries about a slowing US economy and pushed US bond yields higher.
INTERBANK RATES: The rupee moved both ways against the dollar as it was up by three paisa for buying at 60.54 and shed one paisa for selling at 60.58, dealers said.
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Buying Rs 60.65
Selling Rs 60.70
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Saturday.
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Buying Rs 60.54
Selling Rs 60.58
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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 8.00 9.00 8.40 9.25 8.66
1-Week 8.25 8.60 8.45 8.75 8.51
2-Weeks 8.40 8.60 8.55 8.75 8.58
1-Month 8.40 8.75 8.60 8.90 8.66
2-Months 8.55 8.80 8.70 8.90 8.74
3-Months 8.55 8.85 8.70 9.00 8.78
4-Months 8.60 8.90 8.75 9.10 8.84
5-Months 8.65 8.90 8.80 9.15 8.88
6-Months 8.70 9.00 8.85 9.20 8.94
9-Months 8.75 9.00 9.00 9.25 9.00
1-Year 8.85 9.10 9.10 9.35 9.10
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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 10.00 9.63
1-Week 9.50 10.00 9.75 10.25 9.88
2-Weeks 9.50 10.00 10.00 10.25 9.94
1-Month 9.75 10.25 10.00 10.50 10.13
2-Months 9.75 10.25 10.00 10.50 10.13
3-Months 9.75 10.50 10.25 10.75 10.31
4-Months 10.00 10.50 10.25 10.75 10.38
5-Months 10.00 10.50 10.25 10.75 10.38
6-Months 10.00 10.50 10.25 10.75 10.38
9-Months 10.25 10.75 10.50 11.00 10.63
1-Year 10.50 10.75 11.00 11.25 10.88
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RUPEE IN LAHORE: In Lahore, the rupee gained 5 paisa in relation to dollar in the partially closed currency market on Saturday on account of the murder of Arshad Butt of Asma Money Exchange. However, some currency dealers continued their business.
According to dealers, the demand for dollars declined slightly and that helped the rupee maintain upward move. The dollar commenced trading at overnight closing levels of Rs 60.70 and Rs 60.80 for buying and selling, respectively, and closed at Rs 60.65 and Rs 60.75, they said.
However, the rupee-pound parity remained unchanged at Rs 113.50 and Rs 113.80 for buying and selling, respectively, dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against dollar at the currency markets of Islamabad and Rawalpindi on Saturday.
The dollar opened at Rs 60.70 (buying) and Rs 60.80 (selling) unchanged rates, and closed at same rates.
Pound Sterling opened at Rs 113.50 (buying) and Rs 113.70 (buying) against same previous rate. It did not observe any further change in the second session and closed at Rs 113.50 (buying) and Rs 113.70 (buying).
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