As a result of intervention by the State Bank of Pakistan (SBP), the rates moved both ways on the currency market on Thursday in process of persisting demand for dollars, dealers said. In the interbank market, the rupee got rid of its overnight weakness against the dollar, recovering 30 paisa for buying at 79.15 and it also gained 35 paisa for selling at 79.20, they said.
Some money experts said that during the day the rupee touched the mark of 79.84 due to strong demand by the importers. During the fourth session, yen edged off a three-year peak against euro after co-ordinated global interest rate cuts gave a slight boost to some battered Asian stock markets and helped improve investor appetite for risk. But market players were cautious about how sustainable any improvement is after the panic that has gripped financial markets around the world this week, sparking a sharp sell-off in stocks, higher-yielding currencies and commodities.
OPEN MARKET RATES: The rupee, however, lost 30 paisa against dollar for buying and selling at 79.80 and 80.20.In the process of trading dollar once crossed the 81 mark, they said. The rupee fell sharply in terms of euro, losing Rs 1.30 for buying and selling at Rs 108.00 and Rs 108.15, they said.
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Open Buying Rs 79.80
Open Selling Rs 80.20
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Thursday.
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Buying Rs 79.45
Selling Rs 79.55
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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 11.50 12.50 12.00 12.75 12.19
1-Week 12.00 12.25 12.25 12.40 12.23
2-Week 12.10 12.30 12.40 12.60 12.35
1-Month 12.25 12.40 12.35 12.50 12.38
2-Months 12.40 12.60 12.55 12.65 12.55
3-Months 12.45 12.60 12.60 12.70 12.59
4-Months 12.45 12.60 12.60 12.70 12.59
5-Months 12.45 12.60 12.60 12.70 12.59
6-Months 12.50 12.65 12.60 12.70 12.61
9-Months 12.50 12.65 12.60 12.70 12.61
1-Year 12.55 12.65 12.65 12.75 12.65
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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 35.00 16.00 38.00 26.00
1-Week 15.00 25.00 16.00 30.00 21.50
2-Week 14.00 25.00 16.00 26.00 20.25
1-Month 14.00 20.00 15.00 22.00 17.75
2-Months 14.00 18.00 15.00 20.00 16.75
3-Months 14.00 18.00 15.00 20.00 16.75
4-Months 14.00 17.00 15.00 19.00 16.25
5-Months 14.25 17.00 15.25 18.00 16.13
6-Months 14.25 17.00 15.25 18.00 16.13
9-Months 15.00 18.00 16.00 20.00 17.25
1-Year 15.50 19.00 16.00 20.00 17.63
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RUPEE IN LAHORE: The Pak rupee recovered some of its earlier loss and increased its value by 50 paisa against the US dollar in the Lahore currency market on Thursday. The dollar witnessed decline its demand that helped rupee recover its position. At the end of trading, the dollar closed higher at Rs 80.50 and Rs 81.50 against the overnight closing of Rs 81.00 and Rs 82.00 on buying and selling sides, respectively.
Likewise, the rupee showed recovery and increased 50 paisa on buying side while it remained unchanged on selling side against the pound sterling. The pound was traded at Rs 139.00 and Rs 142.00 as compared to last closing of Rs 139.50 and Rs 142.00 on buying and selling counters, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi on Thursday. The dollar resumed trading at Rs 79.80 (buying) and Rs 80.30 (selling) against the last rate. It did not observe further change in the second session and closed at Rs 79.80 (buying) and Rs 80.30 (selling). Pound Sterling opened at Rs 137.50 (buying) and Rs 138.00 (selling) against the last rate of Rs 139.00 (buying) and Rs 139.50 (selling). It did not observe further change in the second session and closed at Rs 137.50 (buying) and Rs 138.00 (selling).
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