Sharp recovery was seen on the interbank market on Friday following the easy supply of dollars and the modest recovery on the local stock market, dealers said. On the interbank market, the rupee gained 1.05 for buying at 71.00 and it also rose by 100 paisas for selling at 71.10, they said.
Expectations for improvement in inflows also helped the rupee to look ahead. Besides, they said, recovery in the Karachi stock could be another factor behind the rupee's bullish sentiment. During the fifth session, dollar inched lower after posting its biggest daily gain against yen in more than three months the day before when US stocks rallied on a sharp drop in oil prices.
The US currency remained on a shaky footing, given concern over the US financial system and bleak growth prospects due to the slumping housing market. Data on Thursday showing a contraction in July factory activity in the US Mid-Atlantic region was the latest evidence of the economic problems there.
OPEN MARKET RATES: The rupee, however, extended its fall against dollar, slipping 20 paisa for buying at 71.90 and it also fell by 10 paisa for selling at 72.40, they said. The rupee also slipped against euro, falling by 45 paisa for buying at Rs 112.90 and it also shed 55 paisa for selling at Rs 113.10, dealers said.
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Open Buying Rs 71.90
Open Selling Rs 72.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Friday.
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Buying Rs 71.00
Selling Rs 71.10
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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 10.20 10.40 10.40 10.50 10.38
2-Week 10.30 10.50 10.50 10.80 10.53
1-Month 10.60 10.75 10.80 11.00 10.79
2-Months 11.50 11.65 11.70 11.80 11.66
3-Months 11.70 11.80 11.80 11.85 11.79
4-Months 11.70 11.80 11.75 11.85 11.78
5-Months 11.75 11.80 11.75 11.85 11.79
6-Months 11.75 11.80 11.75 11.90 11.80
9-Months 11.80 11.90 11.90 11.95 11.89
1-Year 11.80 11.90 11.90 11.95 11.89
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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 14.00 13.50 14.50 13.63
1-Week 12.00 13.00 12.50 14.00 12.88
2-Week 12.00 13.50 12.50 14.00 13.00
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 has shown a marginal recovery against the greenback and the pound sterling. The dollar closed at Rs 71.50 and Rs 72.50 against Thursday's closing of Rs 72.30 and Rs 72.60 as its buying and selling rates.
The rupee, after the persistent decline, started increasing against the British pound whose buying and selling rate fell to Rs 141.00 and Rs 142.00 as compared to the overnight closing of 141.40 and Rs 142.50.
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 Friday.
The dollar opened at Rs 71.20 (buying) and Rs 71.40 (selling) against last rate of Rs 71 (buying) and Rs 71.20 (selling). It did not observe further change in the evening session and closed at Rs 71.20 (buying) and Rs 71.40 (selling). Pound Sterling opened at Rs 142 (buying) and Rs 142.20 (selling) against same overnight value. It did not observe further change in the second session and closed at Rs 142 (buying) and Rs 142.20 (selling).
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