Bullish sentiment persisted on the interbank market on Saturday as the rupee extended its gain, gaining 60 more against dollar for buying and selling at 67.90 and 68.00, dealers said.
Commenting on the appreciation of the rupee, some experts expressed the view that recent moves by the SBP to improve the monetary performance is meant to bring dollar at certain level versus the rupee to curtail the inflation. This is no doubt a serious issue for the whole nation and the government, as well. In the near-term, it appeared fruitful as the rupee is performing as it should response to the corrective measures taken by the State Bank of Pakistan (SBP), they said.
In New York trade, the dollar fell on Friday and was on track for its steepest weekly decline against a basket of major currencies in two months, as investors worried surging oil prices could deepen an economic downturn and fan inflationary pressures.
OPEN MARKET RATES: By the official closing the rupee, however, drifted lower against dollar, losing 30 paisa against dollar for buying and selling at 69.30 and 69.40, they said. The rupee failed to maintain its surge against euro, losing 51 paisa for buying and selling at Rs 109.05 and Rs 109.15, they said.
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Open Buying Rs 69.30
Open Selling Rs 69.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Saturday.
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Buying Rs 67.90
Selling Rs 68.00
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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 11.90 11.95 11.90 11.95 11.93
1-Week 11.75 11.90 11.90 11.95 11.88
2-Weeks 11.50 11.75 11.60 11.80 11.66
1-Month 11.00 11.40 11.40 11.60 11.35
2-Months 10.90 11.50 11.40 11.60 11.35
3-Months 11.00 11.50 11.40 11.50 11.35
4-Months 11.00 11.50 11.40 11.65 11.39
5-Months 11.10 11.50 11.40 11.70 11.43
6-Months 11.25 11.50 11.50 11.75 11.50
9-Months 11.25 11.50 11.50 11.75 11.50
1-Year 11.25 11.50 11.60 11.80 11.54
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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 15.00 25.00 20.00 27.00 21.75
1-Week 15.50 17.00 16.50 17.50 16.63
2-Weeks 15.00 16.00 16.50 17.00 16.13
1-Month 14.00 15.00 15.00 16.00 15.00
2-Months 13.50 14.50 14.00 15.00 14.25
3-Months 13.75 14.50 14.00 15.00 14.31
4-Months 13.75 14.50 14.25 15.00 14.38
5-Months 13.75 14.50 14.25 15.00 14.38
6-Months 14.00 14.50 14.50 15.00 14.50
9-Months 14.00 14.50 14.50 15.00 14.50
1-Year 14.25 14.75 14.75 15.25 14.75
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RUPEE IN LAHORE: The rupee gained 100 paisa against dollar in Lahore currency market on Saturday.The dollar started declining soon after resuming trading at Rs 68.50 and Rs 69.50 as its buying and selling rates, respectively. At the end of trading, the dollar closed lower at Rs 68.00 and Rs 69.00 on buying and selling sides against Friday's closing of Rs 69.00 and Rs 70.00 respectively.
Similarly, the rupee showed strength and appreciated its worth against the British pound which slipped to Rs 136.50 and Rs 137.50 against the overnight closing of Rs 137.00 and Rs 138.00 on buying and selling counters, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 40 paisa against dollar at the currency markets of Islamabad and Rawalpindi on Saturday.
The dollar opened at Rs 68.90 (buying) and Rs 69.20 (selling) against last rate of Rs 69.30 (buying) and Rs 69.40 (selling). It did not observe any change in the second spell and closed at Rs 68.90 (buying) and Rs 69.20 (selling).
Pound sterling opened at Rs 136.50 (buying) and Rs 137 (selling) against last rate of Rs 137.50 (buying) and Rs 138 (selling). It did not observe further change in the evening session and closed at Rs 136.50 (buying) and Rs 137 (selling).
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