No change was seen in the interbank market on Tuesday as the rupee stayed put at the overnight levels against dollar for buying and selling at Rs 60.63 and Rs 60.65, dealers said. The rupee did not show any weakness in relation to dollar as supply was enough to meet the demand, they said.
It is expected the rupee may maintain its firmness in the coming days as supply of dollar improves, they added. In the global market dollar hovered near a 15-year low against a basket of currencies on Tuesday, hampered by expectations the Federal Reserve could cut interest rates by a half-point next week to counter the US economy's slowdown.
But yen also slipped against dollar and major currencies as Asian stock markets rebounded from a fall the previous day, making market players comfortable buying higher-yielding currencies against the low-yielding yen.
OPEN MARKET RATES: In line with the interbank market trend, the rupee held its overnight levels against the dollar for buying and selling at Rs 60.80 and Rs 60.85, they said. The rupee continued its prevailing weakness against euro, falling five paisa for buying and selling at Rs 83.50 and Rs 83.60, they said.
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KERB BUYING Rs 60.80
KERB SELLING Rs 60.85
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Tuesday.
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Buying Rs 60.63
Selling Rs 60.65
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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 8.50 9.40 8.75 9.50 9.04
1-Week 8.90 9.15 9.10 9.25 9.10
2-Weeks 8.90 9.10 9.10 9.25 9.09
1-Month 8.95 9.20 9.10 9.30 9.14
2-Months 9.05 9.25 9.15 9.30 9.19
3-Months 9.10 9.30 9.20 9.35 9.24
4-Months 9.15 9.30 9.20 9.35 9.25
5-Months 9.15 9.35 9.25 9.40 9.29
6-Months 9.20 9.40 9.30 9.45 9.34
9-Months 9.25 9.40 9.35 9.50 9.38
1-Year 9.25 9.45 9.35 9.50 9.39
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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 8.75 9.50 9.00 9.60 9.21
1-Week 9.10 9.30 9.25 9.40 9.26
2-Weeks 9.15 9.30 9.25 9.35 9.26
1-Month 9.20 9.40 9.30 9.45 9.34
2-Months 9.20 9.60 9.35 9.70 9.46
3-Months 9.25 9.60 9.35 9.75 9.49
4-Months 9.30 9.70 9.50 9.80 9.58
5-Months 9.40 9.90 9.60 10.00 9.73
6-Months 9.60 10.00 9.75 10.10 9.86
9-Months 9.75 10.10 10.00 10.25 10.03
1-Year 9.90 10.25 10.10 10.40 10.16
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RUPEE IN LAHORE: The rupee showed stability and remained subdued against the dollar at Monday closing in the open currency market on Tuesday.
There was hardly a change in dollar's value and it was traded at overnight closing level of Rs 60.85 and Rs 60.95 on buying and selling sides.
The rupee marginally lost its value by five paisa against the pound sterling purchased and sold at Rs 122.65 and Rs 122.95 against Rs 122.60 and Rs 122.90 of Monday.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi on Tuesday.
The dollar opened at Rs 60.90 (buying) and Rs 61.00 (selling) against the same 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 opened at Rs 122.30 (buying) and Rs 122.50 (selling) against same last rate. It did not observe any change in the second session and closed at Rs 122.30 (buying) and Rs 122.50 (selling).
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