The rupee was able to retain its overnight firmness against dollar in the currency market on Tuesday while failed to do so versus euro, dealers said. In the interbank market, the rupee extended its gains, picking up 15 paisa in relation to dollar for buying and selling at Rs 60.72 and Rs 60.74, they said. It is likely that the rupee may gain more strength in terms of dollar, they added.
In the second session, dollar was stable as market players weighed fresh signs of weakness in the US economy, dealers said. They said that growing fears of a US recession were offsetting support from reduced prospects of further US interest rate cuts due to inflation concerns.
OPEN MARKET RATES: The rupee picked up more 20 paisa in relation to the dollar for buying and selling at Rs 60.65 and Rs 60.75, they said.
The euro gave up its slide against the rupee, gaining 52 paisa for buying and selling at Rs 86.75 and Rs 86.85, they said.
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Open Buying Rs 60.65
Open Selling Rs 60.75
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Tuesday.
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Buying Rs 60.72
Selling Rs 60.74
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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 9.90 9.95 9.91
1-Week 9.90 9.90 9.90 9.95 9.91
2-Weeks 9.75 9.85 9.80 9.90 9.83
1-Month 9.55 9.65 9.65 9.75 9.65
2-Months 9.35 9.50 9.45 9.60 9.48
3-Months 9.35 9.50 9.45 9.60 9.48
4-Months 9.30 9.45 9.45 9.50 9.43
5-Months 9.30 9.45 9.40 9.50 9.41
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 9.90 10.50 10.00 10.75 10.29
1-Week 9.90 10.25 9.95 10.30 10.10
2-Weeks 9.90 10.25 9.95 10.30 10.10
1-Month 9.65 9.90 9.75 10.00 9.83
2-Months 9.65 9.75 9.75 9.80 9.74
3-Months 9.60 9.75 9.70 9.80 9.71
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 strength and increased its value by 10 paisa against the dollar in the open currency market on Tuesday.
The dollar began trading at Rs 60.75 and Rs 60.85 as its buying and selling rates and slipped and closed at Rs 60.70 and Rs 60.80 on the buying and selling sides because of lacking buying support.
The rupee maintained an upward slide and moved up against the pound sterling traded at Rs 121.10 and Rs 121.50 as compared to the overnight closing of Rs 121.50 and Rs 122.00 on buying and selling counters.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi on Tuesday.
The dollar opened at Rs 60.80 (buying) and Rs 60.90 (selling) against the last rate. It did not observe any change in the evening session and closed at Rs 60.80 (buying) and Rs 60.90 (selling).
Pound sterling opened at Rs 121.60 (buying) and Rs 121.80 (selling) against the overnight value. It did not observe any change in the last trading hours and closed at Rs 121.60 (buying) and Rs 121.80 (selling).
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