Firmness prevailed in the interbank market on Tuesday as the rupee did not show any change against dollar for buying and selling at Rs 60.75 and RS 60.76, dealers said. Balanced demand and supply of dollars helped the rupee to maintain its overnight levels, they said.
In the international markets, dollar held near a five-week high against the euro and a three-month peak versus the yen on Tuesday on cooling speculation that the Federal Reserve may cut interest rates later in the year.
Solid economic data of last week has provided US currency a respite from a wave of selling that had pushed it to a record low versus the euro last month. And the possibility that the Fed may not cut rates from 5.25 percent later this year has prompted investors to pare back short dollar positions.
OPEN MARKET RATES: The rupee managed to hold its overnight levels against the dollar for buying at Rs 60.80 while it picked up five paisa for selling at Rs 60.85, they said. The rupee also gained 26 paisa against euro for buying and selling at Rs 81.64 and Rs 81.74, respectivel.
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KERB BUYING Rs 60.80
KERB SELLING Rs 60.85
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Tuesday.
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Buying Rs 60.75
Selling Rs 60.76
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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 9.40 9.45 9.40 9.45 9.43
1-Week 9.15 9.30 9.25 9.26 9.26
2-Weeks 9.00 9.20 9.10 9.25 9.14
1-Month 8.95 9.10 9.05 9.20 9.08
2-Months 8.85 9.00 8.90 9.05 8.95
3-Months 8.85 9.00 8.90 9.05 8.95
4-Months 8.85 9.00 8.95 9.10 8.98
5-Months 8.90 9.00 9.00 9.15 9.01
6-Months 8.90 9.05 9.00 9.15 9.03
9-Months 8.90 9.10 9.05 9.25 9.08
1-Year 8.90 9.15 9.10 9.25 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 9.45 9.70 9.50 9.80 9.61
1-Week 9.40 9.60 9.50 9.70 9.55
2-Weeks 9.40 9.60 9.45 9.70 9.54
1-Month 9.30 9.60 9.50 9.70 9.53
2-Months 9.40 9.60 9.50 9.75 9.56
3-Months 9.40 9.60 9.60 9.75 9.56
4-Months 9.50 9.75 9.75 10.00 9.75
5-Months 9.75 10.00 10.00 10.25 10.00
6-Months 9.75 10.00 10.00 10.25 10.00
9-Months 10.00 10.25 10.50 10.75 10.38
1-Year 10.00 10.50 10.50 10.75 10.44
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RUPEE IN LAHORE: The dollar-rupee parity remained unchanged amid sluggish trading on Lahore currency markets on Tuesday.According to dealers, the dollar resumed trading at overnight levels of Rs 60.80 and Rs 60.90 for buying and selling, respectively. These rates remained unchanged during entire day's trading and closed at the same levels, they said.
On the contrary, the rupee lost 10 paisa against pound sterling. The pound's buying rate improved from Rs 119.60 to Rs 119.70 and selling rate increased from Rs 119.90 to Rs 120.00, dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar showed an increase of 20 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi on Tuesday.
The greenback opened at Rs 60.80 (buying) and Rs 60.90 (selling) against the last rate of Rs 60.60 (buying) and Rs 60.70 (selling). It did not observe any change in the second session and closed at Rs 60.80 (buying) and Rs 60.90 (selling).
Pound Sterling opened at Rs 119.80 (buying) and Rs 119.90 (selling) against the last rate of Rs 120.50 (buying) and Rs 120.70 (selling). The British currency did not witness any change in the evening session and closed at Rs 119.80 (buying) and Rs 119.90 (selling).
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