Sliding trend was again witnessed in the interbank market on Thursday as the rupee shed two paisa versus the dollar for buying at 60.86 and slipped by one paisa for selling at 60.87, dealers said. The importers made hectic buying of dollars to deal with the payments. It seems that the rupee may move both ways in the coming days, they said.
In the international markets, the dollar slipped, trimming gains made on upbeat US growth data before more US data and a chorus of comments from top European Central Bank officials that could provide clues about the outlook for interest rates.
Traders said dollar fell against the low-yielding yen as speculators unloaded the US currency on disappointment that Japanese investment funds launched during the session failed to attract the kind of cash the market had anticipated.
OPEN MARKET RATES: The rupee lost four paisa versus the dollar for buying at 60.84 while it did not move any side for selling at 60.90, they said. The rupee, however, gained 20 paisa in relation to the euro for buying and selling at Rs 79.50 and Rs 79.60, dealers said.
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Buying Rs 60.84
Selling Rs 60.90
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Thursday.
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Buying Rs 60.86
Selling Rs 60.87
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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 9.40 8.25 9.40 8.76
1-Week 8.25 8.60 8.50 8.75 8.53
2-Weeks 8.40 8.70 8.65 8.90 8.66
1-Month 8.60 8.90 8.70 9.00 8.80
2-Months 8.65 8.90 8.75 9.00 8.83
3-Months 8.65 8.90 8.75 9.10 8.85
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 8.75 10.00 9.25 10.25 9.56
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 10.25 10.75 10.50 11.00 10.63
4-Months 10.25 10.75 10.25 11.00 10.56
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 sluggish trading trend in the local currency markets on Thursday.
According to the currency dealers, there was no change in dollar's demand and supply condition, which helped the local currency maintain its position.
The dollar commenced trading at Wednesday's closing rates of Rs 60.85 and Rs 60.95 on buying and selling sides, respectively. The opening rates continued to prevail during the entire day's trading and finally closed at the same level, the dealers added.
However, the local currency maintained downward slide and further lost its worth against the pound sterling. The British pound was purchased at Rs 118.35 was sold at Rs 118.65 as compared to Rs 118.00 and Rs 118.30 of Wednesday, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi on Thursday.
The dollar opened at Rs 60.80 (buying) and Rs 60.90 (selling) against same last week's rate. Ever-favorite greenback did not witness any further change in the evening session and closed at Rs 60.80 (buying) and Rs 60.90 (selling).
Pound Sterling opened at Rs 117.10 (buying) and Rs 117.30 (selling) against same previous rate. British currency did not witness further change in the second session and closed at Rs 117.10 (buying) and Rs 117.30 (selling).
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