The dollar was sharply up in the open market on Monday after crossing Rs 62 barrier owing to the increasing demand for the US currency, dealers said. The rupee lost 15 paisa against the dollar for buying at 61.95 and it was also down 20 paia for selling at 62.10 in process of trading. At a time, the rupee hit a low mark of 62.75 during the day, they said.
In the Asian market, the dollar edged up from a six-week low against yen on as Japanese investors stepped in to buy after its slide late last week on poor US jobs data that bolstered expectations for an aggressive Fed rate cut.
The dollar also staged a slight rebound in Asia trade after some traders were disappointed the weak payrolls report did not spark a deeper retreat in the US currency, prompting them to reverse short positions. In the interbank market, the rupee moved both ways gaining five paisa for buying at 62.20, it however, shed two paisa for selling at 62.30, they said. The dollar was strong as the supply of the greenback was tight due to closure of the international markets, they said.
OPEN MARKET RATES: The rupee was down by 10 paisa against the dollar for buying and selling at 61.50 and 61.60, they said. The rupee did not show any change against the euro for buying and selling at Rs 89.80 and 89.90, they added.
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Open Buying Rs 61.95
Open Selling Rs 62.10
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Monday.
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Buying Rs 62.20
Selling Rs 62.30
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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 9.25 9.90 9.40 9.95 9.63
1-Week 9.50 9.60 9.55 9.75 9.60
2-Weeks 9.40 9.50 9.45 9.60 9.49
1-Month 9.30 9.40 9.35 9.50 9.39
2-Months 9.30 9.40 9.35 9.50 9.39
3-Months 9.30 9.50 9.40 9.55 9.44
4-Months 9.30 9.45 9.45 9.50 9.43
5-Months 9.35 9.50 9.45 9.50 9.45
6-Months 9.35 9.50 9.45 9.55 9.46
9-Months 9.35 9.50 9.45 9.55 9.46
1-Year 9.35 9.50 9.45 9.60 9.48
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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 9.75 9.90 9.90 10.00 9.89
1-Week 9.60 9.75 9.75 9.90 9.75
2-Weeks 9.45 9.60 9.55 9.70 9.58
1-Month 9.50 9.70 9.60 9.80 9.65
2-Months 9.50 9.70 9.60 9.80 9.65
3-Months 9.60 9.75 9.70 9.80 9.71
4-Months 9.60 9.75 9.70 9.80 9.71
5-Months 9.65 9.90 9.75 9.90 9.80
6-Months 9.70 10.00 9.80 10.10 9.90
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 remained unchanged against dollar in Lahore currency market on Monday.
There was hardly a visible change in dollar's demand and supply condition and the rupee opened at Saturday's closing rates of Rs 61.80 and Rs 61.90 on buying and selling sides. The dollar's buying and selling rates remained intact throughout the day and finally closed at the same level.
The rupee marginally declined against pound, which traded at Rs 121.45 and Rs 121.75 as compared to the previous closing of Rs 121.35 and Rs 121.70.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar showed improvement of 60 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi on Monday.
The dollar opened at Rs 62.10 (buying) and Rs 62.20 (selling) against last week's rate of Rs 61.50 (buying) and Rs 61.60 (selling). It did not observe any change in the evening session and closed at Rs 62.10 (buying) and Rs 62.20 (selling).
Pound sterling showed an improvement of 70 paisa against rupee on the first trading days of the week.
The British currency resumed trading at Rs 121.70 (buying) and Rs 121.90 (selling) against last week's rate of Rs 121 (buying) and Rs 121.50 (selling). It did not observe any change in the evening session and closed at Rs 121.70 (buying) and Rs 121.90 (selling).
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