In the face of rising demand for dollars, the rupee could not maintain its firmness against US currency in the inter-bank market at the weekend, falling six paisa for buying and selling at Rs 61.13 and Rs 61.15, money experts said.
In spite of political uncertainty in the country, which is also one of the factors behind the rupee's weakness, the importers' rush for dollars increasing day by day and pushing the rupee's value down, dealers said.
Rising oil prices in the world market, making the payment bills higher by the passage of time, this factor may cause further reduce the value of the rupee. At the weekend, euro set a record high against US dollar, but the key $1.50 level remained out of reach and the currency fell back more than a cent on comments from a euro zone policy-maker.
European Central Bank Governing Council member Miguel Angel Fernandez Ordonez said he saw a greater-than-expected economic slowdown in the euro zone and there was not enough data to dispel uncertainty about the effects of financial market turmoil.
OPEN MARKET RATES: The rupee maintained its overnight level against dollar for buying at Rs 61.15 while it shed five paisa for selling at Rs 61.25, they said. The rupee, however, managed to gain 50 paisa in relation to euro for buying and selling at Rs 90.65 and Rs 90.75, they said.
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Open Buying Rs 61.15
Open Selling Rs 61.25
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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 8.25 9.25 8.50 9.40 8.85
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 9.20 9.35 9.25 9.40 9.30
2-Months 9.25 9.40 9.30 9.45 9.35
3-Months 9.25 9.40 9.35 9.50 9.38
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 8.30 9.40 8.50 9.50 8.93
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 9.60 9.60 9.70 9.59
2-Months 9.50 9.70 9.55 9.80 9.64
3-Months 9.50 9.75 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 rupee lost five paisa against dollar in Lahore currency market on Saturday.
The dollar resumed trading at Rs 61.37 and Rs 61.47 as its buying and selling sides and marginally improved and closed at Rs 61.40 and Rs 61.50 against the Friday closing of Rs 61.35 and Rs 61.45.
The rupee marginally improved against the British pound declining to Rs 125.90 and Rs 126.20 against the overnight closing of Rs 126.00 and Rs 126.30.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against dollar at the currency markets of Islamabad and Rawalpindi on Saturday.
The dollar opened at Rs 60.85 (buying) and Rs 61 (selling) against same overnight value. It did not observe any change in the evening spell and closed at Rs 60.85 (buying) and Rs 61 (selling).
Pound sterling opened at Rs 127.20 (buying) and Rs 127.40 (selling) against same 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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