Firmness prevailed in the interbank market on Thursday as the rupee held its overnight levels against dollar for buying and selling at Rs 60.74 and Rs 60.75, dealers said. Supply of dollars was strong which saved the rupee from moving any side and it is expected that the rupee may hold its present posture in the near future, money experts said.
In the world markets, euro fell towards recent six-week lows against dollar on Thursday after below-forecast German business sentiment data sparked some liquidation of over stretched long positions in the single currency. The IFO business climate index was steady at 108.6 in May, below a consensus forecast for a rise to 108.8. Current conditions came in at 112.5 compared with expectations for 113.5 while the expectations component rose to 104.8 versus a forecast of 104.5.
OPEN MARKET RATESZ: The rupee was in commanding position as it managed to hold its overnight levels against the dollar for buying and selling at Rs 60.80 and Rs 60.90 despite the higher demand of dollars by the corporate sector, they said. The rupee, recovered four paisa against the euro for buying and selling at Rs 81.66 and Rs 81.76, dealers said.
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KERB BUYING Rs 60.80
KERB SELLING Rs 60.90
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Thursday.
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Buying Rs 60.74
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 9.40 9.45 9.40 9.45 9.43
1-Week 9.25 9.40 9.35 9.40 9.35
2-Weeks 9.05 9.20 9.10 9.25 9.15
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 9.40 9.60 9.45 9.65 9.53
1-Week 9.40 9.60 9.50 9.65 9.54
2-Weeks 9.40 9.50 9.45 9.60 9.49
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 9.50 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 rupee showed stability and remained unchanged against the greenback in the local currency markets on Thursday.
According to currency dealers, the dollar resumed trading at Wednesday's closing rates of Rs 60.80 and Rs 60.90 on buying and selling sides, respectively. There was no change in dollar's value during the trading and at the end of trading it was closed at the same level, they said.
However, the rupee maintained downward trend and further declined against the pound sterling. The pound's buying rate improved from previous day's closing rate of Rs 119.95 to Rs 120.60 while its selling rate increased from Rs 120.30 to Rs 120.90, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The buying and selling rates of dollar against the rupee remained unchanged at the open currency markets of Islamabad and Rawalpindi on Thursday.
The dollar resumed trading at Rs 60.80 (buying) and Rs 60.90 (selling) against same overnight value. 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 same previous rate. It did not witness any change in the second spell and closed at Rs 119.80 (buying) and Rs 119.90 (selling).
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