The euro has gained nearly rupee one in relation to the local currency in the open market on Saturday after breaking Rs 79 barrier for buying and selling at Rs 79.40 and Rs 79.50, respectively.
This was the second time during the week, firstly on Thursday, the single European currency breached the barrier of Rs 78 and on Saturday it touched the record high at Rs 79.00 as it improved on the back of dollar's fall in the international markets, money experts said.
In the world markets, the dollar's fourth consecutive session of weakness was the culmination of a host of negative developments over the last several weeks, including weaker-than-expected US economic data and comments from central banks in Asia and the Middle East underscoring the risk of keeping large reserves of dollars. The rupee, however, gained five paisa in relation to dollar at 60.75 for buying while it did not show any change for selling at 60.85 in process of trading, they said.
INTERBANK RATES: The rupee most of the times maintained the overnight level versus the dollar for buying and selling at 60.73 and 60.75, respectively.
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Buying Rs 60.75
Selling Rs 60.85
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Saturday.
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Buying Rs 60.73
Selling Rs 60.75
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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 7.75 8.60 8.00 9.00 8.34
1-Week 8.40 8.60 8.60 8.75 8.59
2-Weeks 8.50 8.75 8.75 8.90 8.73
1-Month 8.60 8.85 8.75 9.00 8.80
2-Months 8.65 8.90 8.75 9.00 8.83
3-Months 8.65 8.90 8.75 9.05 8.84
4-Months 8.70 9.00 8.85 9.15 8.93
5-Months 8.75 9.00 8.90 9.15 8.95
6-Months 8.80 9.10 8.90 9.20 9.00
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 8.50 9.25 8.75 9.50 9.00
1-Week 9.00 9.75 9.50 10.00 9.56
2-Weeks 9.25 9.75 9.75 10.00 9.69
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 rupee gained 3 paisa versus dollar in Lahore currency markets on Saturday.
According to currency dealers, the dollar went down due to lack of buying support. The dollar resumed trading at Friday's closing rates of Rs 60.75 and Rs 60.85 on buying and selling sides, respectively.
At the end of trading, the dollar slightly declined and closed at Rs 60.72 and Rs 60.82 on buying and selling counters, respectively, dealers added.
Similarly, the rupee was also stronger against pound sterling. The pound buying rate declined from previous closing rate of Rs 116.80 to Rs 116.70 while selling rate moved down from Rs 117.10 to Rs 117.00, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against dollar at Islamabad and Rawalpindi currency markets on Saturday.
The dollar resumed trading at Rs 60.90 (buying) and Rs 70 (selling) against same last rate. It did not witness any further change in the evening session and closed at Rs 60.90 (buying) and Rs 70 (selling).
Pound sterling opened at Rs 115 (buying) and Rs 115.20 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 115 (buying) and Rs 115.20 (selling).
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