Divergent trend was seen in the currency market on Thursday as the rupee moved both ways in process of trading, dealers said. The rupee failed to retain its overnight level against the dollar in the interbank market for buying and selling at Rs 60.62 and Rs 60.64 due to importers' buying, US currency, analysts said.
In the Asian market the yen hovered near a 4-1/2-year low versus the dollar on Thursday, hurt by more signs that it will remain a low-yielding funding currency for investors purchasing higher-yielding currencies in carry trades.
The yen drifted away from a record peak against the euro but traders said it was just a matter of time before the single currency scaled a new high against the Japanese currency.
OPEN MARKET RATES: The rupee rallied against the dollar, gaining eight paisa at Rs 61.10 for buying and picking up 20 paisa for selling at Rs 60.20 , they said. It, however, managed to recover in relation to the euro, rising 19 paisa for buying and selling at Rs 81.66 and Rs 81.76, they said.
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Kerb Buying Rs 61.10
Kerb Selling Rs 61.20
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Wednesday.
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Buying Rs 60.62
Selling Rs 60.64
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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 3.00 9.00 3.50 9.25 6.19
1-Week 8.25 8.50 8.30 8.75 8.45
2-Weeks 8.40 8.75 8.60 8.90 8.66
1-Month 8.50 8.85 8.60 8.90 8.71
2-Months 8.75 8.90 8.80 9.00 8.86
3-Months 8.80 8.95 8.85 9.00 8.90
4-Months 8.80 9.00 8.85 9.05 8.93
5-Months 8.85 9.00 8.95 9.10 8.98
6-Months 8.85 9.10 9.00 9.15 9.03
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 3.50 9.25 4.00 9.40 6.54
1-Week 8.50 9.00 8.75 9.25 8.88
2-Weeks 8.75 9.25 8.90 9.35 9.06
1-Month 9.00 9.50 9.25 9.60 9.34
2-Months 9.25 9.60 9.40 9.75 9.50
3-Months 9.25 9.60 9.40 9.75 9.50
4-Months 9.40 9.75 9.65 9.90 9.68
5-Months 9.50 9.75 9.75 10.00 9.75
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 showed stability and remained unchanged for the second consecutive day in the local currency markets on Thursday.
According to the currency dealers, the demand for dollar and its supply situation remained intact. It resumed trading at Wednesday closing level of Rs 61.05 and Rs 61.15 on buying and selling sides, respectively. The dollar witnessed fractional change in its value, but finally closed at the same level, the dealers said.
Similarly, the rupee-pound sterling parity remained unchanged amid sluggish trading trend. The pound traded at overnight closing level of Rs 121.40 and Rs 121.70 on buying and selling counters, respectively, they 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 resumed trading at Rs 60.90 (buying) and Rs 61.00 (selling) against the last rate. It did not observe any change in the evening session and closed at Rs 60.90 (buying) and Rs 61.00 (selling).
Pound Sterling opened at Rs 120.00 (buying) and Rs 120.20 (selling) against the previous rate. It did not witness any change in the second spell and closed at Rs 120.00 (buying) and Rs 120.20 (selling).
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