Dollar touched the new high in the open market on Thursday as the rupee breached the barrier of 63 versus the greenback, dealers said. Rising demand for dollars by the importers building pressure over the rupee, it lost 13 paisa for buying at 62.92 and the domestic currency also shed 10 paisa for selling at 63.05 in the open market, they said.
Meanwhile, the rupee did not fluctuate against euro for buying and selling at Rs 91.75 and Rs 91.85 in process of trading, they said. In the Asian market, during the forth session, dollar held steady against euro, with market players awaiting a European Central Bank policy decision later in the day for clues to whether the ECB is softening its inflation-fighting stance as growth slows.
Investors are eyeing the possibility of two ECB rate cuts this year after weak figures on service sector activity in the euro zone earlier this week stoked expectations that the central bank will have to shift gears on policy to cut rates.
IN THE INTERBANK MARKET: the rupee continued overnight weakness in terms of dollar, shedding four paisa for buying and selling at 62.84 and 62.86, they said.
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Open Buying Rs 62.92
Open Selling Rs 63.05
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Thursday.
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Buying Rs 62.84
Selling Rs 62.86
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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 8.00 9.00 8.25 9.25 8.63
1-Week 9.00 9.15 9.10 9.25 9.13
2-Weeks 9.15 9.35 9.25 9.40 9.29
1-Month 9.25 9.40 9.35 9.50 9.38
2-Months 9.40 9.60 9.50 9.70 9.55
3-Months 9.45 9.65 9.50 9.75 9.59
4-Months 9.50 9.70 9.65 9.80 9.66
5-Months 9.50 9.75 9.65 9.80 9.68
6-Months 9.55 9.75 9.70 9.90 9.73
9-Months 9.60 9.80 9.70 9.90 9.75
1-Year 9.65 9.80 9.70 9.90 9.76
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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 8.25 9.40 8.50 9.50 8.91
1-Week 9.25 9.50 9.30 9.65 9.43
2-Weeks 9.40 9.50 9.60 9.75 9.56
1-Month 9.40 9.70 9.60 9.90 9.65
2-Months 9.75 10.00 9.90 10.10 9.94
3-Months 9.75 10.25 9.90 10.40 10.08
4-Months 9.75 10.25 10.00 10.40 10.10
5-Months 9.90 10.30 10.20 10.50 10.23
6-Months 10.00 10.30 10.25 10.50 10.26
9-Months 10.00 10.40 10.25 10.50 10.29
1-Year 10.00 10.50 10.25 10.60 10.34
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RUPEE IN LAHORE: The rupee failed to maintain rising trend and shed 15 paisa in relation to the greenback in the kerb market here on Thursday.
The dollar resumed trading at Rs 62.70 and Rs 62.80 on buying and selling sides and started moving up soon after commencement of the trading. At the end, the dollar closed higher at Rs 62.80 and Rs 62.90 on buying and selling counters, respectively, as against overnight closing of Rs 62.65 and Rs 62.75.
However, the rupee maintained upward move and further strengthened against the pound sterling. The pound's buying rate slipped from Wednesday's closing of Rs 123.00 to Rs 122.70 and selling rate from Rs 123.40 to Rs 123.10.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar-rupee parity remained unchanged at the open currency markets of Islamabad and Rawalpindi on Thursday.
The dollar opened at Rs 62.75 (buying) and Rs 62.85 (selling) against the overnight value. It did not observe any change in the last trading hours and closed at Rs 62.75 (buying) and Rs 62.85 (selling).
Pound Sterling opened at Rs 123.25 (buying) and Rs 123.50 (selling) against the overnight value. It did not observe any change in the evening session and closed at Rs 123.25 (buying) and Rs 123.50 (selling).
Euro opened at Rs 92.00 (buying) and Rs 92.20 (selling) against the last rate. It remained firm against the rupee in the evening session, and closed at Rs 92.00 (buying) and Rs 92.20 (selling).
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