Bearish trend was again seen in the interbank market on Wednesday as the rupee shed more 10 paisa against dollar for buying and selling at 62.50 and 62.54, dealers said. Persisting demand for dollar did not allow the rupee to look ahead.
It is likely that the rupee may continue its present trend versus the US currency, they said. In the Asian markets, during the third session, yen slipped broadly as Asian stock markets rose and a report that the White House is preparing a tax break plan to help the economy prompted investors to shift back into risky positions such as carry trades.
OPEN MARKET RATES: The rupee continued its overnight weakness against the dollar, shedding 15 paisa more for buying and selling at 62.30 and 62.40, they said. The rupee also lost 28 paisa versus the euro for buying and selling at Rs 90.93 and Rs 91.03, they added.
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Open Buying Rs 62.30
Open Selling Rs 62.40
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Wednesday.
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Buying Rs 62.50
Selling Rs 62.54
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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 9.50 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 9.90 9.95 9.95 10.00 9.95
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 9.60 9.90 9.80 10.00 9.83
2-Months 9.70 9.90 9.80 10.00 9.85
3-Months 9.75 10.00 9.85 10.10 9.93
4-Months 9.75 10.00 9.90 10.10 9.94
5-Months 9.75 10.00 9.90 10.10 9.94
6-Months 9.75 10.00 10.00 10.25 10.00
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 lost 20-paisa against dollar on Lahore currency market on Wednesday.
The demand for dollars was high, which closed higher at Rs 62.40 on buying side and at Rs 62.50 on selling side against Tuesday's closing rates of Rs 62.20 and Rs 62.30.
However, the rupee recovered its overnight loss and improved its value against pound sterling. The pound was purchased at Rs 122.00 and was sold at Rs 122.40 as compared to Tuesday's rates of Rs 122.50 and Rs 122.80 on buying and selling counters, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against rupee at the currency markets of Islamabad and Rawalpindi on Wednesday.
The dollar resumed trading at Rs 62.10 (buying) and Rs 62.30 (selling) against same last rate. It did not observe any change in the second session and closed at Rs 62.10 (buying) and Rs 62.30 (selling).
Pound sterling opened at Rs 121 (buying) and Rs 121.50 (selling) against same last rate. It did not observe any change in the evening session and closed at Rs 121 (buying) and Rs 121.50 (selling).
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