Modest erosion was witnessed in the rupee's value in the open market on Tuesday, giving up two paisa against the dollar for buying at Rs 60.75 and sliding five paisa for selling at Rs 60.85, dealers said.
Meanwhile the rupee mostly maintained its overnight levels in terms of the euro, inching up with one paisa rise for buying and selling at Rs 82.16 and Rs 82.26, they said.
During the second session of the week, the dollar was under pressure, hovered near a two-year low against the euro ahead of US housing data due later in the session that could offer clues on the direction of Federal Reserve policy. Against the yen, the dollar was off its lows on short covering. The Japanese currency had received a boost on Monday after rating agency Standard and Poor's upgraded Japan's sovereign rating.
INTERBANK RATES: Firmer trend was seen as the rupee held its overnight levels against the dollar for buying and selling at Rs 60.66 and Rs 60.67, respectively.
The rupee was able to retain it present level versus the dollar following the balanced demand and supply position, moneychangers said. Rising trend in the Foreign Direct Investment (FDI) and an upward trend in the remittances gave a boost to the rupee, so it is likely that the rupee might show steadier trend till the end of the current fiscal year, currency experts said.
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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 Tuesday.
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Buying Rs 60.66
Selling Rs 60.67
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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 8.50 8.25 8.75 8.38
1-Week 8.40 8.50 8.50 8.70 8.53
2-Weeks 8.40 8.60 8.60 8.70 8.58
1-Month 8.60 8.70 8.70 8.80 8.70
2-Months 8.70 8.85 8.80 8.90 8.81
3-Months 8.75 8.85 8.80 8.90 8.83
4-Months 8.80 8.90 8.85 9.00 8.89
5-Months 8.80 9.00 8.90 9.00 8.93
6-Months 8.85 9.00 8.90 9.10 8.96
9-Months 8.85 9.10 9.00 9.15 9.03
1-Year 8.90 9.10 9.10 9.20 9.08
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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 8.25 8.75 8.50 8.90 8.60
1-Week 8.75 9.00 9.00 9.25 9.00
2-Weeks 8.75 9.00 9.00 9.25 9.00
1-Month 9.00 9.25 9.25 9.50 9.25
2-Months 9.25 10.00 9.50 10.25 9.75
3-Months 9.50 10.00 9.75 10.25 9.88
4-Months 9.50 10.00 9.75 10.25 9.88
5-Months 9.75 10.25 10.00 10.50 10.13
6-Months 9.75 10.25 10.00 10.50 10.13
9-Months 10.00 10.50 10.50 11.00 10.50
1-Year 10.25 10.75 10.50 11.00 10.63
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RUPEE IN LAHORE: The Pak rupee maintained upward trend and marginally improved its worth by two paisa in relation to the greenback in the local currency markets on Tuesday.
According to the currency dealers, the dollar's trading commenced at overnight closing level of Rs 60.72 and Rs 60.82 as its buying and selling rates, respectively. At the end of trading, the dollar moved down and closed at Rs 60.70 and Rs 60.80 on buying and selling sides, respectively, the dealers added.
On the contrary, the rupee failed to maintain upward slide and depreciated its worth against the pound sterling. The pound was purchased at Rs 121.00 and was sold at Rs 121.30 as compared to previous closing of Rs 120.70 and Rs 121.00 respectively, 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 Tuesday.
The dollar resumed trading at Rs 60.75 (buying) and Rs 60.85 (selling) against the previous rate. It did not observe any change in the second session and closed at Rs 60.75 (buying) and Rs 60.85 (selling).
Pound Sterling opened at Rs 119 (buying) and Rs 119.20 (selling) against the overnight value. It remained firm against the dollar in the last trading hours and closed at Rs 119.00 (buying) and Rs 119.20 (selling).
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