All round decline was seen on the currency market on Tuesday as dollar buying increased to meet the payment requirement, dealers said. The dollar is heading to touch an important mark versus the rupee at 63.00, they said and adding the rupee drifted lower against dollar in the interbank market, losing eight paisa for buying and selling at 62.96 and 62.98, they said.
In the second Asian trade, euro advanced against the dollar in Tokyo as players bet that the European Central Bank (ECB) will leave interest rates unchanged at a meeting later this week. The euro rose to 1.5737 dollars in Tokyo afternoon trade compared with 1.5709 in New York late on Monday, off earlier highs. It eased to 160.94 yen from 161.86, while dollar slipped to 102.27 yen after 102.36.
Traders expect the ECB to leave its key lending rate on hold at 4.0 percent at a meeting on Thursday due to stubborn inflation in the eurozone.
OPEN MARKET RATES: The rupee continued its overnight weakness, shedding 10 paisa more against dollar for buying and selling at 63.50 and 63.60, they said. The rupee followed the same print, losing 60 paisa versus the euro for buying and selling at 99.80 and Rs 99.90, they added.
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Open Buying Rs 63.50
Open Selling Rs 63.60
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Tuesday.
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Buying Rs 62.96
Selling Rs 62.98
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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 10.00 8.50 10.25 9.25
1-Week 9.20 9.40 9.30 9.50 9.35
2-Weeks 9.15 9.30 9.30 9.50 9.31
1-Month 9.25 9.50 9.40 9.70 9.46
2-Months 9.50 9.65 9.60 9.75 9.63
3-Months 9.50 9.65 9.60 9.75 9.63
4-Months 9.60 9.80 9.70 9.90 9.75
5-Months 9.65 9.90 9.75 10.00 9.83
6-Months 9.70 9.90 9.80 10.00 9.85
9-Months 9.75 10.00 9.90 10.10 9.94
1-Year 10.00 10.15 10.10 10.25 10.13
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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 9.00 10.25 9.25 10.50 9.75
1-Week 9.50 10.00 9.75 10.10 9.84
2-Weeks 9.50 9.90 9.75 10.00 9.79
1-Month 9.60 9.90 9.80 10.10 9.85
2-Months 9.75 10.00 9.90 10.25 9.98
3-Months 9.85 10.25 10.00 10.40 10.13
4-Months 9.85 10.25 10.00 10.40 10.13
5-Months 10.00 10.40 10.25 10.50 10.29
6-Months 10.00 10.40 10.25 10.50 10.29
9-Months 10.25 10.50 10.50 10.75 10.50
1-Year 10.25 10.75 10.50 11.00 10.63
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RUPEE IN LAHORE: The rupee lost five paisa on the buying side at Rs 63.60 against dollar at Lahore currency market on Tuesday remaining unchanged on the selling side at Rs 63.70.
The dollar resumed trading at the overnight closing level of Rs 63.55 and Rs 63.70 as its buying and selling rate. Because of marginal decline in the dollar's supply, its buying rate moved up to Rs 63.60 while selling rate closed at the opening level.
The rupee continued rising and further strengthened against the British pound whose buying and selling rates moved down to Rs 125.00 and Rs 125.50 against a day earlier trading of Rs 125.80 and Rs 126.30.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar was down by 20 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi on Tuesday.
It opened at Rs 63.40 (buying) and Rs 63.50 (selling) against the last rate of Rs 63.60 (buying) and Rs 62.70 (selling). It did not observe any change in the last trading days and closed at Rs 63.40 (buying) and Rs 63.50 (selling).
Pound Sterling opened at Rs 124.95 (buying) and Rs 125.10 (selling) against the last rate of Rs 125.50 (buying) and Rs 125.70 (selling). It did not observe any further change in the second session and closed at Rs 125.50 (buying) and Rs 125.70 (selling).
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