The rupee commenced the week on a soft tone in the interbank on Monday as the rupee lost three paisa in terms of dollar for buying and selling at Rs 60.75 and Rs 60.77, dealers said.
It is the problem of short supply of dollars which propelled the rupee to gave up its firmness in relation to dollar, but one thing could be expected at this point that weakness of the rupee may help exports to improve from the present level, money experts said.
Commenting on the dollar fall in the global market, currency analysts said that some weakness in the US economy pushed the dollar down against other currencies. Specially US and China are the main buyers of euro and pound sterling.
They are also major buyers of gold, which soared in the global and local markets, they added. Traditionally, it's the marriage season in the country and the number of buyers has increased to meet their requirements, they said.
In the local market the rupee should depict significant rise in its value as during the month of Ramazan remittances go up significantly as overseas Pakistanis send foreign exchange to their relatives, they said. It seems the rupee is not able to show sizeable gain due to higher demand for dollar by the importers, experts said.
OPEN MARKET RATES: The rupee inched up with a gain of two paisa against dollar for buying at Rs 60.58 while it did not show any change for selling at Rs 60.65, they said. While the rupee retained its weekend trend against euro, picking up 15 paisa for buying and selling at Rs 85.05 and Rs 85.65, they said.
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KERB BUYING Rs 60.58
KERB SELLING Rs 60.65
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Monday.
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Buying Rs 60.75
Selling Rs 60.77
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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 9.90 9.90 9.90 9.95 9.91
1-Week 9.80 9.85 9.90 9.90 9.86
2-Week 9.70 9.80 9.80 9.90 9.80
1-Month 9.35 9.45 9.45 9.50 9.44
2-Months 9.25 9.35 9.35 9.45 9.35
3-Months 9.25 9.40 9.30 9.45 9.35
4-Months 9.25 9.40 9.35 9.45 9.36
5-Months 9.25 9.40 9.30 9.45 9.35
6-Months 9.30 9.40 9.35 9.50 9.39
9-Months 9.35 9.40 9.35 9.50 9.40
1-Year 9.35 9.50 9.40 9.60 9.46
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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 9.95 10.00 10.00 10.10 10.01
1-Week 9.90 9.95 9.95 10.00 9.95
2-Week 9.75 9.85 9.80 9.90 9.83
1-Month 9.50 9.70 9.60 9.75 9.64
2-Months 9.45 9.70 9.60 9.80 9.64
3-Months 9.45 9.75 9.50 9.80 9.63
4-Months 9.50 9.75 9.60 9.80 9.66
5-Months 9.50 9.90 9.65 9.90 9.74
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 opened on a healthy note and improved five paisa in its value on buying side at Rs 60.45 and 10 paisas on selling side at Rs 60.55 against the greenback in the open currency market on Monday.
The dollar's trading began at Rs 60.45 and Rs 60.55 against Saturday closing of Rs 60.50 and Rs 60.65 as its buying and selling rates. The opening rates continued to prevail during the entire day's trading and finally closed at the same level.
The rupee showed strength and improved against the pound sterling, which was sold and bought at Rs 122.60 and Rs 122.20 as compared to the last week closing at Rs 122.70 and Rs 123.20.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi on Monday.
The dollar opened at Rs 60.60 (buying) and Rs 60.70 (selling) against the overnight value. It did not observe any change in the last trading hours and closed at Rs 60.60 (buying) and Rs 60.70 (selling).
Pound Sterling opened at Rs 122.60 (buying) and Rs 122.70 (selling) against the previous rate. It did not observe any change in the second session and closed at Rs 122.60 (buying) and Rs 122.70 (selling).
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