THE RUPEE: dollar weaker

The rupee extended its gains against dollar in the currency market on Thursday, dealers said. In the interbank market, the rupee gained 27 paisa for buying at 71.18 and it also rose by 30 paisa for selling at 71.20, they added.
Recent steps taken by the State Bank of Pakistan (SBP) boosted the rupee in both open and interbank market, money experts said. On the other hand, speculators were on the sidelines, which aided the rupee to resist its decline versus dollar.
In the fourth Asian trade dollar edged up against a basket of currencies as oil prices inched lower, but investors remained cautious due to worries about more credit-related losses and the economy.
Though dollar found support from a dip in oil prices, traders were wary of oil surging back towards the record peak of $145.85 hit last week, as high energy costs undermine the weak US economy and hurt the currency.
OPEN MARKET RATES: The rupee also recovered against dollar, it gained 40 paisa for buying at Rs 71.10 and it was also higher by 90 paisa for selling at 71.60 they said.
The rupee rose by 15 paisa against euro for buying at Rs 110.85 and it also gained 20 paisa for selling at Rs 111.05, dealers said.

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Open Buying             Rs 71.10
Open Selling            Rs 71.60
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Thursday.

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Buying                Rs 71.18
Selling               Rs 71.20
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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    6.00     11.25       7.00        11.50          8.94
1-Week      10.00     10.25      10.25        10.50         10.25
2-Week      10.00     10.40      10.25        10.60         10.31
1-Month     10.30     10.50      10.50        10.60         10.48
2-Months    11.25     11.40      11.40        11.50         11.39
3-Months    11.40     11.50      11.50        11.60         11.50
4-Months    11.40     11.50      11.50        11.65         11.51
5-Months    11.45     11.55      11.55        11.65         11.55
6-Months    11.45     11.60      11.55        11.70         11.58
9-Months    11.50     11.60      11.60        11.70         11.60
1-Year      11.50     11.65      11.60        11.80         11.64
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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    8.00     13.00       9.00        13.50         10.88
1-Week      11.00     12.50      11.50        13.00         12.00
2-Week      11.00     12.50      12.00        13.00         12.13
1-Month     12.00     13.50      13.00        14.00         13.13
2-Months    12.00     14.00      13.00        14.50         13.38
3-Months    12.50     14.50      13.50        15.00         13.88
4-Months    13.00     14.50      14.00        15.00         14.13
5-Months    13.50     14.50      14.00        15.50         14.38
6-Months    14.00     14.75      14.50        15.50         14.69
9-Months    14.25     15.00      14.75        16.00         15.00
1-Year      14.50     15.50      15.00        16.00         15.25
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RUPEE IN LAHORE: The rupee declined by 25 paisa on the buying side at Rs 71.00 but improved its value by 90 paisa on selling side at Rs 71.60. The rupee witnessed stability following the State Bank's measures. The dollar demand and supply situation failed to remain intact in the market. There was no more volatility in the dollar-rupee parity, moneychangers said.
At close, the dollar moved up to Rs 71.00 and Rs 71.60 against the overnight level of Rs 70.75 and Rs 72.50 on the buying and selling sides.
The rupee also remained under pressure and lost its value against the British pound, which traded at Rs 138.50 and Rs 141.00 as compared to Wednesday's closing of Rs 138.00 and Rs 140.00 on the buying and selling counters, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi on Thursday.
The dollar opened at Rs 71 (buying) and Rs 72 (selling) against same previous rate. It did not observe further change in the evening session and closed at Rs 71 (buying) and Rs 72 (selling).
Pound sterling opened at Rs 139 (buying) and Rs 139.50 (selling) against last rate of Rs 138 (buying) and Rs 139.50 (selling). It did not observe further change in the second session and closed at Rs 139 (buying) and Rs 139.50 (selling).