The rupee, somehow, managed to resist sharp decline against dollar in the currency market on Friday but continued weakness versus euro, dealers said.
In the interbank market the rupee lost for buying against dollar seven paisa at Rs 61.07 and it, however, gained 11 paisa for selling at Rs 61.09 in process of trading, bankers said.
Demand for dollars by the importers is still high due to higher payment bills following the upward trend in the oil prices in the international market, money experts said. During the final session of the week, euro fell around half a US cent in European markets, erasing earlier gains, after ECB Governing Council member Miguel Angel Fernandez Ordonez said he sees stronger than expected slowdown in the euro zone.
The euro was at $1.4873, steady on the day but down from levels around $1.4920 seen before the Ordonez comments and sharply off a record peak of $1.4966 set earlier in the session according to Reuters data.
OPEN MARKET RATES: The rupee maintained its overnight gains against dollar for buying and selling at Rs 61.15 and Rs 61.20, they said. The rupee, however, failed to show any change in its track in relation to euro, losing 25 paisa more for buying and selling at Rs 91.20 and Rs 91.30, they said.
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Open Buying Rs 61.15
Open Selling Rs 61.20
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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 9.25 9.95 9.53
1-Week 9.00 9.10 9.20 9.30 9.15
2-Weeks 9.15 9.30 9.25 9.40 9.28
1-Month 9.25 9.35 9.30 9.40 9.33
2-Months 9.25 9.40 9.30 9.45 9.35
3-Months 9.25 9.45 9.35 9.50 9.39
4-Months 9.25 9.45 9.35 9.50 9.39
5-Months 9.30 9.45 9.35 9.50 9.40
6-Months 9.30 9.50 9.40 9.55 9.44
9-Months 9.35 9.45 9.40 9.55 9.44
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 9.10 9.95 9.25 10.00 9.58
1-Week 9.25 9.40 9.40 9.60 9.41
2-Weeks 9.35 9.50 9.40 9.55 9.45
1-Month 9.45 9.70 9.60 9.80 9.64
2-Months 9.50 9.70 9.55 9.80 9.64
3-Months 9.50 9.70 9.60 9.80 9.66
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 Pak rupee marginally increased by 5-paisa against the US dollar in the local currency markets on Friday.
The dollar slightly declined to Rs 61.35 and Rs 61.45 on buying and selling sides, respectively, as against Thursday's closing rates of Rs 61.40 and Rs 61.50. There was no uniformity in the greenback's selling rates at different currency exchanges as some have quoted Rs 61.50.
Likewise, the rupee showed strength and appreciated its worth against the pound sterling. The British pound slipped from overnight closing rate of Rs 126.30 to Rs 126.00 on buying side and Rs 126.60 to Rs 126.35 on selling side.
RUPEE IN ISLAMABAD AND RAWALPINDI: The buying and selling rates of dollar against the rupee remained unchanged at the open currency markets of Islamabad and Rawalpindi on Friday.
The dollar opened at Rs 60.85 (buying) and Rs 61.00 (selling) against the overnight value. It did not observe any change in the evening spell and closed at Rs 60.85 (buying) and Rs 61.00 (selling).
Pound Sterling opened at Rs 127.20 (buying) and Rs 127.40 (selling) against the overnight value. It did not observe any change in the second session and closed at Rs 127.20 (buying) and Rs 127.40 (selling).
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