The euro continued its surge versus the rupee in open market on Monday, gaining another 13 paisa for buying and selling at Rs 87.10 and 87.18, dealers said. The rupee, however, did not move any side against dollar for buying and selling Rs 60.70 and Rs 60.75 in process of trading, they said.
Commenting on dollar's sharp fall against major currencies in the world market money experts said that the euro was at 1.4426 in relation to the US currency and versus the pound sterling, dollar was trading at 2.0575. In the first session of the week dollar fell to a new record low against euro in Asia as market players were convinced that the Federal Reserve would cut interest rates again this week, traders said.
The euro hit 1.4426 dollars in early Asian trading, breaking the 1.44 level for the first time since the single European currency's creation in 1999. The euro was trading at 1.4407-10 dollars in the morning in Tokyo, against 1.4391 dollars in New York late Friday.
INTERBANK MARKET RATES: The rupee held its weekend level against the dollar for buying and selling at 60.70 and 60.72, they said.
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Open Buying Rs 60.70
Open Selling Rs 60.75
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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 9.40 9.75 9.50 9.80 9.61
1-Week 9.25 9.35 9.35 9.40 9.34
2-Weeks 9.30 9.40 9.35 9.50 9.39
1-Month 9.30 9.40 9.45 9.50 9.41
2-Months 9.30 9.45 9.40 9.50 9.41
3-Months 9.25 9.45 9.35 9.50 9.39
4-Months 9.30 9.45 9.35 9.50 9.40
5-Months 9.30 9.45 9.35 9.55 9.41
6-Months 9.30 9.50 9.35 9.55 9.43
9-Months 9.35 9.45 9.40 9.55 9.45
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 9.50 9.90 9.65 9.90 9.74
1-Week 9.50 9.75 9.80 9.90 9.74
2-Weeks 9.55 9.85 9.65 9.90 9.74
1-Month 9.40 9.75 9.50 9.80 9.61
2-Months 9.45 9.75 9.55 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 depicted stability against dollar in Lahore currency market on Monday.
The rupee-dollar parity remained unchanged throughout the day since the dollar was traded at Rs 60.70 and Rs 60.80 on buying and selling counters against the same level it was available in the previous session.
The local currency depreciated against the pound sterling whose price on buying and selling counters was quoted as Rs 124.40 and Rs 124.65 as opposed to Rs 124.00 and Rs 124.40.
RUPEE IN ISLAMABAD AND RAWALPINDI: The buying and selling rates of dollar against rupee remained unchanged at the currency markets of Islamabad and Rawalpindi on Monday.
The dollar opened at Rs 60.60 (buying) and Rs 60.70 (selling) against same previous rate. It did not show any change in the evening session and closed at Rs 60.60 (buying) and Rs 60.70 (selling).
Pound sterling opened at Rs 123 (buying) and Rs 123.20 (selling) against same previous rate. It did not observe any change in the evening session and closed at Rs 123 (buying) and Rs 123.20 (selling).
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