Continued surge in dollar demand in the interbank market on Thursday, dragged the rupee down, shedding 16 paisa for buying at 63.66 and 63.68, money experts said. The rupee was not able to recover its losses due to persistent buying of dollars and is also likely that the rupee may show significant improvement under the week economic scenario, they added.
In the fourth session of the week, dollar was slightly higher in Asian trade as speculators locked in gains from euro's surge overnight to fresh record highs, dealers said. They said the greenback was supported by a rally on Wall Street sparked by a positive reaction to earning results from J.P. Morgan Chase and Intel.
The dollar edged up to 101.95 yen in Tokyo morning trade from 101.81 late Wednesday in New York. The euro eased to 1.5933 dollars from 1.5950 in New York, where it briefly hit an all-time high of 1.5979. The euro was at 162.40 yen after 162.38.
OPEN MARKET RATES: The rupee, however, gained 10 paisa against dollar for buying and selling at 64.25 and 64.35 despite the rising demand from the interbank market, dealers said.
The rupee continued its weakness against euro, losing 75 paisa for buying and selling at Rs 102.05 and Rs 102.15, they added. The single European currency's strength versus dollar in the world markets, boosted it in the local market to go ahead in terms of the rupee, dealers said.
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Open Buying Rs 64.25
Open Selling Rs 64.35
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Thursday.
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Buying Rs 63.66
Selling Rs 63.68
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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 9.50 10.40 9.75 10.45 10.03
1-Week 9.75 10.00 10.10 10.25 10.03
2-Weeks 9.75 10.00 9.90 10.10 9.94
1-Month 9.60 9.90 9.80 10.00 9.83
2-Months 9.55 9.75 9.65 9.85 9.70
3-Months 9.60 9.75 9.75 9.90 9.75
4-Months 9.65 9.80 9.75 9.90 9.78
5-Months 9.70 9.90 9.80 10.00 9.85
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 10.25 11.00 10.50 11.50 10.81
1-Week 10.50 10.75 10.60 10.90 10.69
2-Weeks 10.25 10.70 10.40 10.80 10.54
1-Month 9.90 10.25 10.10 10.40 10.16
2-Months 9.85 10.25 10.00 10.40 10.13
3-Months 10.00 10.25 10.25 10.50 10.25
4-Months 10.00 10.40 10.25 10.60 10.31
5-Months 10.25 10.75 10.40 11.00 10.60
6-Months 10.25 11.00 10.50 11.25 10.75
9-Months 10.40 11.00 10.60 11.25 10.81
1-Year 10.50 11.00 10.75 11.50 10.94
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RUPEE IN LAHORE: The rupee has kept going down and further lost five paisa against the dollar closing higher at Rs 64.55 and Rs 64.65 against the overnight closing of Rs 64.50 and Rs 64.60 on buying and selling sides.
It failed on Thursday to get out of pressure and further plunged against the pound sterling moving up from Wednesday's closing of Rs 126.50 and Rs 126.80 to Rs 126.80 to Rs 127.20 on buying and selling counters.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi on Thursday.
It opened at Rs 64.30 (buying) and Rs 64.40 (selling) against the last rate of Rs 64.00 (buying) and Rs 64.10 (selling). Ever-favorite greenback did not observe any change in the evening session and closed at Rs 64.30 (buying) and Rs 64.40 (selling).
Pound Sterling opened at Rs 127.30 (buying) and Rs 127.40 (selling) against the last rate of Rs 126.50 (buying) and Rs 126.60 (selling). It did not observe any further change in the second session and closed at Rs 127.30 (buying) and Rs 127.40 (selling).
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