The interbank market opened on bearish note on Monday as the rupee fell by 10 paisa against the dollar for buying at 76.45 and it also lost 15 paisa for selling at 76.55, dealers said. There was higher demand for dollars as importers rushed to buy the same to make payments, they said.
They also said that as the inflow of dollars improves the rupee may start recovering it lost ground. In the Asian trading dollar fell against euro but climbed on a sliding yen after the US government seized control of mortgage companies Fannie Mae and Freddie Mac to shore up the US housing market and prevent the spread of global financial turbulence.
The yen was the major loser, as the move seemed to lessen one major risk to global financial markets and the US economy, reversing last week's broad surge on a flight to safety.
OPEN MARKET RATES: The rupee lost 30 paisa against dollar76.10 while it did not move any side for selling at 76.40, dealers said. The rupee dropped sharply against euro, losing Rs 1.15 for buying and selling at Rs 109.10 and Rs 109.30, they said.
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Open Buying Rs 76.10
Open Selling Rs 76.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Monday.
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Buying Rs 76.45
Selling Rs 76.55
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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 12.00 12.90 12.25 12.90 12.51
1-Week 12.50 12.65 12.60 12.70 12.61
2-Week 12.40 12.55 12.60 12.65 12.55
1-Month 12.10 12.25 12.35 12.50 12.30
2-Months 12.10 12.25 12.15 12.35 12.21
3-Months 12.10 12.30 12.20 12.35 12.24
4-Months 12.15 12.35 12.25 12.40 12.29
5-Months 12.20 12.35 12.30 12.40 12.31
6-Months 12.25 12.40 12.35 12.45 12.36
9-Months 12.25 12.40 12.35 12.45 12.36
1-Year 12.25 12.45 12.40 12.50 12.40
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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 13.00 18.00 14.00 20.00 16.25
1-Week 14.00 16.00 14.50 17.00 15.38
2-Week 13.00 14.50 13.50 16.00 14.25
1-Month 13.50 14.50 14.00 15.50 14.38
2-Months 13.50 14.50 14.00 15.50 14.38
3-Months 13.50 14.50 14.00 15.50 14.38
4-Months 13.50 14.50 13.75 15.00 14.19
5-Months 13.50 14.75 14.00 15.25 14.38
6-Months 13.50 15.00 14.00 15.50 14.50
9-Months 13.75 15.00 14.50 15.50 14.69
1-Year 14.00 15.50 14.75 15.75 15.00
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RUPEE IN LAHORE: The Pak rupee could not maintain last week trend and depreciated its value against the US dollar in the open market on Monday. The dollar commenced trading at Rs 76.30 and 76.60 on buying and selling sides but could not sustain and started declining after short time. At the end of trading, the dollar closed lower at Rs 76.20 and Rs 76.50 against the Saturday closing of Rs 76.00 and Rs 76.40 on buying and selling counters, respectively.
The rupee showed stability and remained unchanged against the British pound. Once the pound was seen touching Rs 136 on buying side during the day's trading but it could not maintain its upward move. Finally, the pound was ended at previous week closing level of Rs 134.50 and Rs 135.50 on buying and selling sides, respectively. RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi on Monday. The dollar opened at Rs 76.00 (buying) and Rs 76.10 (selling) against the overnight value. It did not observe any change in the evening session and closed at Rs 76.00 (buying) and Rs 76.10 (selling). Pound Sterling opened at Rs 134.00 (buying) and Rs 134.75 (selling) against the last rate. British currency did not observe any fluctuation in the evening session and closed at Rs 134.00 (buying) and Rs 134.75 (selling).
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