An appreciation of four paisa was again witnessed in the rupee value against dollar for buying and selling at Rs 61.16 and Rs 61.18 in the interbank market on Friday as supply was strong to meet the demand, dealers said.
Rising supply of dollars boosted the rupee and it is likely that the local currency may continue its firmness in the near future, they said. At the weekend, dollar rose to a one-month high against yen in Asia, extending gains over overnight level after solid US data eased concerns that the US economy was slipping into recession while the Bank of Japan's Tankan survey worsened more than expected. Both retail sales and producer prices for November beat market expectations and strengthened the view that the US economy is more resilient than previously thought despite a lingering credit crunch.
OPEN MARKET RATES: The rupee gave up its overnight weakness in relation to the dollar, picking up 15 paisa for buying and selling at Rs 61.10 and Rs 61.20, they said.
The rupee depicted the same pattern versus euro, gaining 37 paisa for buying and selling at Rs 89.30 and Rs 89.40, they said. The single European currency tumbled with modest fall as the dollar struggled hard to come out of the prevailing weakness, they said.
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Open Buying Rs 61.10
Open Selling Rs 61.20
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Friday.
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Buying Rs 61.16
Selling Rs 61.18
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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 7.50 9.90 7.75 9.90 8.76
1-Week 9.40 9.50 9.50 9.60 9.50
2-Weeks 9.35 9.50 9.45 9.60 9.48
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 9.50 9.38
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 7.75 9.90 8.00 10.00 8.91
1-Week 9.50 9.60 9.60 9.75 9.61
2-Weeks 9.40 9.60 9.50 9.75 9.56
1-Month 9.50 9.70 9.60 9.75 9.64
2-Months 9.50 9.70 9.60 9.80 9.65
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 has remained strong and improved its value by 20 paisas in the open currency market on Friday. The dollar began trading at Rs 61.05 and Rs 61.15 as its buying and selling rates though it fell and closed at Rs 61.00 and Rs 61.10 on buying and selling sides.
The rupee improved against the pound sterling whose buying rate fell from the overnight closing of Rs 124.40 to Rs 123.30 and that of its selling moved down from Rs 124.70 to Rs 123.60.
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 61.25 (buying) and Rs 61.35 (selling) against the same last rate.
It did not observe any change in the evening session and closed at Rs 61.25 (buying) and Rs 61.35 (selling). Pound sterling opened at Rs 124.50 (buying) and Rs 124.60 (selling) against the same overnight value. It did not depict any change in the second session and closed at Rs 124.50 (buying) and Rs 124.60 (selling).
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