The rupee almost held its overnight trend against dollar in the interbank and open markets, it shed five paisa for buying at 67.40 while it retained its overnight level for selling at 67.50, money experts said. The demand for dollars was high as the importers were in the market to make payments to the foreign firms, they noted.
Some analysts said that till the announcement of budget 2008-09, dollar will perform at the upper side and after the budget it would also maintain its supremacy in the presence of widening trade deficit. In the meantime, tightening monetary policy, caused the rupee to erode its gains versus the dollar.
In the fifth session, euro was steady against dollar on Friday, holding hefty gains scored after European Central Bank President Jean-Claude Trichet said a number of policymakers wanted higher interest rates and a hike was possible as soon as next month.
The blunt warning that rates could be raised by a quarter-point in July sent euro soaring more than 1 percent against dollar and snuffed out the US currency's rebound this week.
OPEN MARKET RATES: The rupee, however, drifted lower against dollar, falling 25 paisa for buying and selling at 68.15 and 68.25, they said. The rupee followed same pattern and lost Rs 1.15 versus euro for buying and selling at Rs 105.90 and Rs 106.00, dealers said
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Open Buying Rs 68.15
Open Selling Rs 68.25
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Friday.
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Buying Rs 67.40
Selling 67.50
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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 10.50 11.90 10.75 11.95 11.28
1-Week 10.50 10.90 10.65 11.00 10.76
2-Week 10.75 11.00 10.90 11.10 10.94
1-Month 10.90 11.20 11.10 11.30 11.13
2-Months 10.90 11.20 11.15 11.30 11.14
3-Months 10.90 11.25 11.15 11.30 11.15
4-Months 11.00 11.30 11.25 11.40 11.24
5-Months 11.00 11.40 11.30 11.50 11.30
6-Months 11.25 11.50 11.40 11.60 11.44
9-Months 11.25 11.50 11.50 11.65 11.48
1-Year 11.25 11.50 11.50 11.70 11.49
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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 12.50 19.00 13.00 20.00 16.13
1-Week 11.50 15.50 12.00 16.00 13.75
2-Week 11.50 15.00 12.00 15.50 13.50
1-Month 12.00 14.50 12.50 15.00 13.50
2-Months 12.50 14.50 13.50 15.00 13.88
3-Months 13.00 14.50 14.50 15.00 14.25
4-Months 13.50 14.75 14.00 15.50 14.44
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 30 paisa against dollar on Lahore currency market on Friday. The rupee recovered amid sluggish trading trend. The dollar closed lower at Rs 68.20 and Rs 68.60 against the overnight closing of Rs 68.50 and Rs 68.80.
The rupee marginally declined against the British pound, traded at Rs 133.20 and Rs 134.00 as compared to Thursday's closing of Rs 133.00 and Rs 133.50 on the buying and selling counters.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar surged by 30 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi on Friday. The dollar opened at Rs 68 (buying) and Rs 68.20 (selling) against last rate of Rs 67.70 (buying) and Rs 67.80 (selling). It did not observe further change in the last trading hours and closed at Rs 68 (buying) and Rs 68.20 (selling).
Pound Sterling opened at Rs 133 (buying) and Rs 133.50 (selling) against last rate of Rs 138 (buying) and Rs 138.50 (selling). It did not observe change in the second session and closed at Rs 133 (buying) and Rs 133.50 (selling).
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