The rupee maintained its surge against dollar in the interbank market on Thursday, gaining two paisa for buying and selling at Rs 60.59 and Rs 60.61, respectively. Easy supply of dollar enhanced the rupee's value and expectedly the rupee may move both ways in coming days, dealers said.
In the Asian markets, the dollar hit a 4-1/2-year high against yen on Thursday, extending gains after strong US retail sales data in the previous session reinforced expectations that the Federal Reserve would not cut interest rates this year. A surge in benchmark US yields to five-year highs this week on an upbeat outlook for the economy, has stoked demand for dollar-denominated securities.
OPEN MARKET RATES: Falling trend was seen in the open market as the rupee lost five paisa against the dollar for buying at Rs 60.90 and slid three paisa for selling at Rs 60.95 in process of trading, they said. The rupee followed the same path and shed 13 paisa in relation to euro for buying and selling at Rs 80.93 and Rs 81.03, they said.
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Kerb Buying Rs 60.90
Kerb Selling Rs 60.95
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Monday.
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Buying Rs 60.59
Selling Rs 60.61
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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 6.50 8.50 6.75 8.60 7.59
1-Week 8.40 8.75 8.60 8.85 8.65
2-Week 8.60 8.75 8.75 9.00 8.78
1-Month 8.75 8.90 8.85 9.00 8.88
2-Months 8.75 8.90 8.85 9.00 8.88
3-Months 8.75 8.90 8.85 9.00 8.88
4-Months 8.80 9.00 8.90 9.05 8.94
5-Months 8.85 9.00 8.95 9.10 8.98
6-Months 8.85 9.05 8.95 9.10 8.99
9-Months 8.90 9.10 9.05 9.20 9.06
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 6.75 8.60 7.00 8.75 7.78
1-Week 8.60 8.90 8.75 9.00 8.81
2-Weeks 8.75 9.10 9.00 9.25 9.03
1-Month 9.20 9.40 9.30 9.50 9.35
2-Months 9.25 9.50 9.40 9.65 9.45
3-Months 9.25 9.60 9.50 9.75 9.53
4-Months 9.50 9.75 9.75 10.00 9.75
5-Months 9.60 9.90 9.80 10.20 9.88
6-Months 9.75 10.00 10.00 10.25 10.00
9-Months 10.00 10.25 10.25 10.50 10.25
1-Year 10.00 10.50 10.25 10.75 10.38
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RUPEE IN LAHORE: The rupee-dollar parity remained unchanged for the third consecutive day on the local currency markets on Thursday.
According to currency dealers, there was no change in the dollar's demand-and-supply condition, which provided stability to the local currency. The dollar was traded at Wednesday's closing rates of Rs 60.90 and Rs 61.00 on buying and selling sides, respectively, the dealers added.
On the contrary, the rupee could not maintain upward trend and registered decline in its value against the pound sterling. The pound's buying rate improved from overnight closing level of Rs 119.80 to Rs 120.00 while its selling rate moved up from Rs 120.10 to Rs 120.30, 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 the same previous rate. It did not observe any change in the last trading hours 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 same overnight value. It did not observe further change in the evening session and closed at Rs 119.80 (buying) and Rs 119.90 (selling).
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