Bearish trend persisted in the interbank market on Friday as the rupee lost four paisa against dollar for buying at Rs 60.78 and it fell by five paisa for selling at Rs 60.80, dealers said. High demand for dollar kept the rupee under pressure and it seems the rupee may lose more ground in the coming days, they said.
Different banks bought nearly 80-90 million dollars to meet the importers' demand, they said. State Bank of Pakistan (SBP) released data showed that Pakistan's foreign exchange reserves during the week ending October 27, 2007 surging by 45.5 million dollars mounted to a new height of 16.3542 billion dollars.
OPEN MARKET RATES: The rupee did not show any change in relation to dollar for buying at Rs 60.72 and selling at Rs 60.77, they said. The rupee also adopted the same pattern against euro, depicting no change for buying and selling at Rs 87.55 and Rs 87.65, they said.
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Open Buying Rs 60.72
Open 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 2.00 8.25 2.50 8.50 5.31
1-Week 8.60 8.90 8.75 9.00 8.81
2-Weeks 8.80 9.10 9.00 9.15 9.01
1-Month 8.90 9.20 9.10 9.25 9.11
2-Months 9.20 9.30 9.30 9.40 9.30
3-Months 9.25 9.35 9.30 9.40 9.33
4-Months 9.30 9.40 9.35 9.45 9.38
5-Months 9.30 9.40 9.35 9.45 9.38
6-Months 9.30 9.45 9.35 9.50 9.40
9-Months 9.35 9.45 9.40 9.50 9.43
1-Year 9.35 9.50 9.40 9.55 9.45
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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 2.50 8.75 3.00 9.00 5.81
1-Week 8.90 9.25 9.10 9.40 9.16
2-Weeks 9.15 9.40 9.25 9.50 9.33
1-Month 9.25 9.50 9.35 9.60 9.43
2-Months 9.40 9.65 9.55 9.75 9.59
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 gained five paisa against dollar in Lahore currency market on Friday. The dollar declined to Rs 60.65 and Rs 60.75 on buying and selling side against Rs 60.70 and Rs 60.80.
However, the rupee declined against pound sterling purchased and was bought at Rs 126.00 and sold at Rs 126.30 against Thursday's Rs 125.90 and Rs 126.20.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi on Friday.
The dollar resumed trading at Rs 60.60 (buying) and Rs 60.70 (selling) against the same previous rate. 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 123 (buying) and Rs 123.20 (selling) against the same previous rate. British currency did not observe any change in the evening session and closed at Rs 123 (buying) and Rs 123.20 (selling).
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