The rupee ended the last day of the out-going fiscal year (2006-07) with a sharp gain of 10 paisa against dollar in the interbank market for buying and selling at Rs 60.36 and Rs 60.38, currency analysts said. The wonderful performance was seen in both the open and interbank market as the rupee did its best to retain its present level, they added.
They hoped that the rupee might maintain its current level against dollar despite the widening trade deficit because inflows are strong, which will help the rupee to tackle the uneasy circumstances in days to come.
In the world markets, euro and high-yielding currencies rallied against dollar on Friday while the low-yielding yen weakened broadly, as investor risk appetite returned, prompting carry trades. In carry traders, dealers sell assets in low-yielding currencies for assets offering higher returns.
A report showing a rise in US core personal consumption expenditures, which strips out food and energy costs, was in line with expectations had little impact on currency markets.
OPEN MARKET RATES: The rupee maintained a firm posture against the dollar, holding its overnight level at Rs 60.90 and Rs 61.00, dealers said.
Balanced demand and supply enable the rupee not to look any side. Besides, it is expected that the rupee might improve further in the coming days after completion of foreign payments at the last day of the out-going fiscal year, they said. The rupee could not retain its firmness against the euro, dropping sharply by 45 paisa at Rs 81.93 and Rs 82.03, respectively.
================================
Kerb Buying Rs 60.90
Kerb Selling Rs 61.00
================================
INTERBANK CLOSING RATES: Interbank closing rates for dollar on Saturday.
==============================
Buying Rs 60.36
Selling Rs 60.38
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 9.40 9.45 9.40 9.45 9.43
1-Week 9.10 9.35 9.25 9.40 9.28
2-Weeks 8.75 8.90 8.90 9.10 8.91
1-Month 8.65 8.80 8.75 8.90 8.78
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
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 9.50 10.00 9.75 10.25 9.88
1-Week 9.40 9.75 9.50 10.00 9.66
2-Weeks 8.90 9.25 9.10 9.40 9.16
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
=================================================================
RUPEE IN LAHORE: The rupee lost five paisa in relation to dollar on Lahore currency markets on Saturday. According to dealers, dollar trading commenced at Friday's closing Rs 60.95 and Rs 61.05 as buying and selling rates, respectively. As a result of increase in demand for dollars, its rate moved up and finally closed at Rs 61.00 and Rs 61.10 on buying and selling sides, respectively, dealers said.
However, the rupee-pound sterling parity remained unchanged amid sluggish trading. The pound was traded at overnight closing level of Rs 121.50 and Rs 121.80 on buying and selling counters, respectively, dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The buying and selling rates of the dollar against the rupee remained unchanged at the open currency markets of Islamabad and Rawalpindi on Saturday.
The dollar opened at Rs 60.90 (buying) and Rs 61.00 (selling) against the overnight value. It did not observe any change in the second session and closed at Rs 60.90 (buying) and Rs 61.00 (selling).
Pound Sterling resumed trading at Rs 120.00 (buying) and Rs 120.20 (selling) against the previous rate. It did not witness any change in the evening session and closed at Rs 120.00 (buying) and Rs 120.20 (selling).
Comments
Comments are closed.