All round gains were seen in the currency market on Friday as a result of modest rise in the rupee value against dollar and euro, dealers said. In the open market the rupee headed with strong gains of 25 paisa against dollar at Rs 60.90 for buying and picking 22 paisa for selling at Rs 61.00.
The State Bank offered dollars to the market from its Reserves to keep rupee at a certain level, money experts said. The rupee followed same trend versus euro as it picked up 60 paisa for buying and selling at Rs 81.37 and Rs 81.47 as the dollar managed to rise in terms of the other leading currencies, they said.
The rupee resisted pressure as the importers were buying dollars to clear the payment bills, they said.
In the Asian markets, the dollar held gains against the euro and yen on at the weekend, a day after the Federal Reserve repeated worries about stubborn price pressures in its post-meeting statement.
The yen fell slightly after Japanese government data showed on Friday that consumer prices in the Tokyo area unexpectedly dipped 0.1 percent in June from a year earlier. INTERBANK MARKET RATES: The rupee was up by seven paisa against dollar for buying at Rs 60.46 and it also gained six paisa for selling at Rs 60.48, dealers said.
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KERB BUYING Rs 60.90
KERB SELLING Rs 61.00
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Friday.
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Buying Rs 60.53
Selling Rs 60.54
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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 1.00 6.00 2.00 6.50 3.88
1-Week 8.25 8.60 8.40 8.75 8.50
2-Weeks 8.40 8.70 8.50 8.80 8.60
1-Month 8.60 8.75 8.75 8.85 8.74
2-Months 8.70 8.90 8.80 9.00 8.85
3-Months 8.75 8.90 8.85 9.00 8.88
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 8.95 9.10 9.00
9-Months 8.90 9.10 9.00 9.15 9.04
1-Year 8.90 9.10 9.10 9.25 9.09
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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 1.50 6.50 2.00 7.00 4.25
1-Week 8.50 9.00 8.90 9.25 8.91
2-Weeks 8.75 9.00 9.00 9.25 9.00
1-Month 8.90 9.25 9.10 9.50 9.19
2-Months 9.25 9.50 9.40 9.70 9.46
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 maintained upward trend and further appreciated by five paisa in relation to the greenback in the local currency markets on Friday.
According to currency dealers, the dollar resumed trading at overnight closing level of Rs 61.00 and Rs 61.10 as its buying and selling rates, respectively. In the absence of buying support, dollar could not sustain and fell down to Rs 60.95 and Rs 61.05 on buying and selling sides, respectively.
Similarly, rupee continued upward slide and further improved against the pound sterling. The pound was purchased at Rs 121.50 and was sold at Rs 121.80 as compared to previous closing of Rs 121.55 and Rs 121.85, 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 Friday.
The dollar resumed trading at Rs 60.90 (buying) and Rs 61 (selling) against same overnight value. It did not observe any change in the second session and closed at Rs 60.90 (buying) and Rs 61 (selling).
Pound sterling resumed trading at Rs 120 (buying) and Rs 120.20 (selling) against same previous rate. It did not witness any change in the evening session and closed at Rs 120 (buying) and Rs 120.20 (selling).
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