The rupee-dollar official parity rates moved upward in the interbank market on Friday as the rupee picked up six paisa against dollar for buying and selling at Rs 60.57 and Rs 60.59, dealers said. Rising trend in the remittances from the overseas Pakistanis boosted the rupee's value in the interbank market, they added.
In the Asian market, at the week-end, dollar steadied against euro, as investors waited for a string of US data to shed more light on the timing of the next Federal Reserve interest rate cut.
The yen stayed off a 2-1/2-month low against euro but remained under downward pressure after the Bank of Japan on Thursday held interest rates steady at 0.5 percent, making investors feel comfortable about taking risky positions such as yen carry trades.
OPEN MARKET RATES: The rupee continued its overnight weakness, dropping another five paisa against dollar for buying and selling at Rs 60.65 and Rs 60.70, dealers said. The rupee also shed 17 paisa against euro for buying and selling at Rs 85.32 and Rs 85.42, they said.
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Kerb Buying Rs 60.65
Kerb Selling Rs 60.70
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Friday.
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Buying Rs 60.57
Selling Rs 60.59
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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 9.90 9.95 9.90 9.95 9.93
2-Week 9.50 9.60 9.60 9.70 9.60
1-Month 9.30 9.45 9.40 9.50 9.41
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 10.10 10.00 10.25 10.08
1-Week 9.95 10.00 10.00 10.25 10.05
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 maintained a downward trend and lost five paisas against the greenback in the open currency market on Friday.
The dollar resumed trading at overnight closing level of Rs 60.60 and Rs 60.70 as its buying and selling rates and moved up and closed at Rs 60.65 and Rs 60.75 on buying and selling sides.
The rupee recovered some of its earlier losses and improved against the pound sterling. The pound's buying rate declined from previous closing of Rs 122.70 to Rs 121.80 while its selling rate moved down from Rs 123.10 to Rs 122.20.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi on Friday.
The dollar opened at Rs 60.60 (buying) and Rs 60.70 (selling) against same overnight value. It did not observe any change in the second session 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 last rate of Rs 122.50 (buying) and Rs 122.60 (selling). It did not observe any change in the last trading hours and closed at Rs 122.60 (buying) and Rs 122.70 (selling).
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