Falling trend was seen in the interbank market on Wednesday as the rupee lost six paisa for buying at Rs 60.60 and it shed five paisa for selling at Rs 60.61 due to rising demand for the US currency, dealers said.
The rupee failed to show any improvement as a result of persistent demand for dollars, they added. The rates in the open market not available due to closure caused by heavy rains in the city, they said.
In the Asian markets, dollar hardly moved against yen in Asian trade on Wednesday as market players took a breather after recent turbulence over the troubled US housing sector, traders said.
Dollar changed hands at 114.40 yen in late morning trade in Tokyo, unchanged from New York late on Tuesday. Euro was trading at 1.3458 dollars here, slightly down from 1.3463 in New York. Euro rose to as high as 1.3521 dollars in European trading on speculation that the US Federal Reserve would soon cut its key interest rate.
INTERBANK CLOSING RATES: Interbank closing rates for dollar on Wednesday.
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Buying Rs 60.60
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 7.25 9.25 7.50 9.50 8.38
1-Week 8.80 9.15 9.00 9.25 9.05
2-Weeks 8.90 9.10 9.00 9.20 9.05
1-Month 8.90 9.20 9.10 9.25 9.11
2-Months 9.10 9.30 9.20 9.35 9.24
3-Months 9.10 9.30 9.20 9.35 9.24
4-Months 9.10 9.35 9.25 9.40 9.28
5-Months 9.15 9.30 9.30 9.40 9.29
6-Months 9.20 9.40 9.30 9.50 9.35
9-Months 9.25 9.40 9.35 9.50 9.38
1-Year 9.25 9.50 9.35 9.60 9.43
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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 8.00 9.75 8.25 10.00 9.00
1-Week 9.00 9.40 9.25 9.50 9.29
2-Weeks 9.10 9.40 9.25 9.50 9.31
1-Month 9.25 9.50 9.40 9.60 9.44
2-Months 9.25 9.75 9.50 9.85 9.59
3-Months 9.50 9.90 9.70 10.00 9.78
4-Months 9.60 9.90 9.75 10.10 9.84
5-Months 9.75 10.00 9.90 10.25 9.98
6-Months 9.75 10.10 10.00 10.25 10.03
9-Months 10.00 10.50 10.25 10.60 10.34
1-Year 10.10 10.60 10.30 10.75 10.44
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RUPEE IN LAHORE: The rupee-dollar parity remained unchanged amid dull trading on Lahore currency market on Wednesday.
There was hardly any change in the demand for dollars and supply pattern, helping rupee stability. The dollar was traded at Tuesday's rates of Rs 60.75 and Rs 60.85 on buying and selling sides.
The rupee declined against pound sterling. The pound's buying rate improved from overnight closing of Rs 120 to Rs 120.50 while its selling rate increased from Rs 120.30 to Rs 150.80.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the currency exchange establishments of Islamabad and Rawalpindi on Wednesday.
The dollar opened at Rs 60.90 (buying) and Rs 61 (selling). It did not observe any change in the second session and closed on the same levels.
Pound sterling opened at Rs 123.30 (buying) and Rs 123.70 (selling). It also did not observe any change and closed on same rates.
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