The rupee gave up it's weekend firmness on the interbank market at the week opening day, losing 18 paisa in terms of dollar for buying at 62.60 and it also shed 22 paisa for selling at 62.65, dealers said. The rupee lost its gain due to higher demand for dollars, money experts said, adding that the rupee may be able to recover its gains after the of dollars eases.
In the Asian market, dollar dipped slightly against euro on Monday, with investors cautious on the US currency before a Federal Reserve meeting this week at which the central bank is expected to cut interest rates again following last week's emergency slash. Market players were also keeping an eye on stocks for clues on whether to tiptoe into carry trades, in which the low-yielding yen is used as a source of cheap funds to buy higher-yielding currencies.
OPEN MARKET RATES: The rupee maintained its weekend level against the greenback for buying at 62.65 while it shed five paisa for selling at 62.80, dealers said. Meanwhile, the rupee picked up 12 paisa against euro, gaining 60 paisa for buying and selling at Rs 91.30 and Rs 91.40, they said.
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Open Buying Rs 62.65
Open Selling Rs 62.80
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Monday.
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Buying Rs 62.60
Selling Rs 62.65
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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 7.00 8.50 7.25 8.65 7.85
1-Week 8.35 8.75 8.50 8.80 8.60
2-Weeks 8.80 8.95 8.90 9.10 8.94
1-Month 8.90 9.20 9.05 9.25 9.10
2-Months 9.20 9.40 9.30 9.45 9.34
3-Months 9.25 9.40 9.35 9.50 9.38
4-Months 9.35 9.45 9.40 9.50 9.43
5-Months 9.35 9.50 9.40 9.55 9.45
6-Months 9.40 9.50 9.50 9.60 9.50
9-Months 9.40 9.50 9.50 9.60 9.50
1-Year 9.45 9.60 9.55 9.65 9.56
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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 7.25 8.50 7.50 8.75 8.00
1-Week 8.50 8.90 8.65 9.00 8.76
2-Weeks 8.75 9.20 9.15 9.30 9.10
1-Month 9.15 9.40 9.35 9.50 9.35
2-Months 9.50 9.75 9.60 9.90 9.69
3-Months 9.60 9.90 9.70 10.00 9.80
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 9.90 10.25 10.00 10.40 10.14
9-Months 9.90 10.25 10.10 10.40 10.16
1-Year 9.90 10.25 10.10 10.50 10.19
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RUPEE IN LAHORE: The rupee lost five paisa in relation to dollar in Lahore currency market on Monday.
Dealers said there was an increase in the demand for US currency, resulting in its improved worth against rupee. The dollar was traded at Rs 62.50 and Rs 62.60 against its previous rates Rs 62.45 and Rs 62.55 on buying and selling sides, respectively.
However, the rupee demonstrated strength and surged against pound sterling, which was purchased at Rs 123.40 and sold at Rs 123.60 from its past closing at Rs 123.60 and 123.90, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against dollar at the currency markets of Islamabad and Rawalpindi on Monday.
The dollar opened at Rs 62.50 (buying) and Rs 62.60 (selling) against same last rate. It did not observe any change in the last trading hours and closed at Rs 62.50 (buying) and Rs 62.60 (selling).
Pound sterling opened at Rs 123.40 (buying) and Rs 123.70 (selling) against same overnight value. It did not observe any change in the last trading hours and closed at Rs 123.40 (buying) and Rs 123.70 (selling).
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