Divergent trend was seen in the currency market on Tuesday in process of trading, dealers said. The rupee gained four paisa against the dollar at 60.83 and 60.85, for buying and selling in the interbank market, dealers said.
The rupee has managed to recover some gains on the back of slight improvement in the dollars' supply position, they said. In the international markets, the yen inched towards a record low against the euro, pressured by expectations that the Bank of Japan will raise interest rates only slowly.
The yen had got a brief lift after BoJ Deputy Governor Toshiro Muto told Jiji news agency that the timing of when the central bank next raises interest rates was completely open, including at its policy board meeting in December.
OPEN MARKET RATES: Against the interbank market rates, the rupee lost seven paisa in relation to dollar for buying and selling at 60.89 and 60.95, respectively. The rupee, however, managed to gain 14 paisa versus the euro for buying and selling at Rs 77.73 and Rs 77.83, dealers said.
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Buying Rs 60.89
Selling Rs 60.95
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on TUesday.
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Buying Rs 60.83
Selling Rs 60.85
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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 9.00 9.40 9.10 9.40 9.23
1-Week 8.70 9.00 8.85 9.10 8.91
2-Weeks 8.60 8.90 8.75 9.10 8.84
1-Month 8.60 8.85 8.80 9.00 8.81
2-Months 8.65 8.90 8.75 9.00 8.83
3-Months 8.65 8.90 8.75 9.15 8.86
4-Months 8.70 8.90 8.80 9.15 8.89
5-Months 8.75 8.90 8.85 9.15 8.91
6-Months 8.75 9.00 8.80 9.20 8.94
9-Months 8.85 9.10 9.00 9.25 9.05
1-Year 8.90 9.10 9.10 9.35 9.11
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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 9.75 10.00 10.00 10.25 10.00
1-Week 9.50 10.00 10.00 10.25 9.94
2-Weeks 9.50 10.25 10.00 10.50 10.06
1-Month 9.75 10.50 10.00 10.75 10.25
2-Months 9.75 10.50 10.25 10.75 10.31
3-Months 10.00 10.50 10.25 10.75 10.38
4-Months 10.00 10.50 10.25 11.00 10.44
5-Months 10.25 10.75 10.50 11.00 10.63
6-Months 10.25 11.00 10.50 11.25 10.75
9-Months 10.25 11.00 10.50 11.25 10.75
1-Year 10.50 11.25 11.00 11.50 11.06
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RUPEE IN LAHORE: The dollar-rupee parity remained unchanged amid low trading activity in Lahore currency markets on Tuesday. According to currency dealers, there was no change in the dollars' demand and supply situation, which helped the rupee maintain its position. The dollar resumed trading at Monday's closing rates of Rs 60.90 and Rs 61.00 as buying and selling rates, respectively. The opening rates continued to prevail throughout the day, dealers added.
On the contrary, the rupee remained under pressure and further depreciated against pound sterling. The pound's buying rate improved from Monday's closing rate of Rs 115.10 to Rs 115.35 while selling rate increased from Rs 115.35 to Rs 115.65, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the currency markets of Islamabad and Rawalpindi on Tuesday.
The dollar opened at Rs 60.70 (buying) and Rs 60.80 (selling) against same last week's rate. It did not observe any further change in the evening session and closed at Rs 60.70 (buying) and Rs 60.80 (selling).
Pound sterling opened at Rs 115 (buying) and Rs 115.20 (selling) against same last week's rate. The British currency did not observe further change by the end of evening spell and closed at Rs 115 (buying) and Rs 115.20 (selling).
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