Recovery phase was seen on the currency market at the week-end as the rupee managed to gain modestly against dollar in both open and interbank market, dealers said. The rupee picked up three paisa in the interbank market against dollar at 62.83 and 62.85 for buying and selling in process of trading, they said.
At the week-end, the dollar slipped on light profit-taking but was still on track for the biggest weekly rise since June 2006 as investors increasingly expect the US growth slowdown to drag on other economies.
The euro was off 3 cents in the week against dollar and was seen weakening more in coming days on growing expectations the European Central Bank will cut interest rates later this year, even with persistent inflation pressures.
OPEN MARKET RATES: Rising trend was seen in the open market as the rupee rose by 10 paisa in terms of the dollar for buying at 62.90 and it also picked up 11 paisa for selling at 62.99, they said.
The rupee, however, failed to retain its gains, versus euro losing 40 paisa for buying and selling at Rs 91.30 and Rs 91.40 as the US currency could not hold its gains in the global market, they said.
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Open Buying Rs 62.90
Open Selling Rs 62.99
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Saturday.
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Buying Rs 62.83
Selling Rs 62.85
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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 8.25 9.75 8.50 10.00 9.13
1-Week 8.90 9.25 9.10 9.40 9.16
2-Weeks 9.10 9.40 9.20 9.50 9.30
1-Month 9.30 9.50 9.40 9.65 9.46
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 8.50 9.75 8.75 10.00 9.25
1-Week 9.25 9.75 9.40 9.80 9.55
2-Weeks 9.40 9.75 9.50 9.80 9.61
1-Month 9.50 9.75 9.75 10.00 9.75
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 began trading at Lahore currency market on Saturday at Rs 62.85 and Rs 62.95 as its buying and selling rates and then closed at Rs 62.90 and Rs 63.00 on buying and selling sides against the overnight closing of Rs 62.80 and Rs 62.90.
The rupee failed to keep its rising trend and declined against the pound and traded at Rs 122.50 and Rs 122.90 as compared to the previous closing of Rs 122.40 and Rs 122.80 on buying and selling counters.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the currency markets of Islamabad and Rawalpindi on Saturday.
The dollar opened at Rs 62.75 (buying) and Rs 62.85 (selling) against same overnight value. It did not observe any change in the evening session 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 same 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 (buying) and Rs 92.20 (selling) against same last rate. It did not observe any change in the last trading hours and closed at Rs 92 (buying) and Rs 92.20 (selling).
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