Rising demand for dollars kept the rupee under pressure on the currency market on Tuesday, dealers said. In the interbank market, the rupee failed to retain its Monday's levels against dollar, losing 48 paisa for buying and selling at 79.85 and 79.90, they added.
In the second Asian trading yen fell 0.8 percent against the euro on Tuesday after European governments unveiled steps to shore up their banking systems, raising hopes for an easing of the credit crisis.
Britain, Germany and France announced plans on Monday to recapitalise their banking systems, helping rekindle risk appetite and triggering selling of the low-yielding yen, which rallied last week as investors dumped risky carry trades.
OPEN MARKET RATES: The rupee followed same trend on the open market coming down sharply by rupee one for buying at 80.50 and also lost 1.70 for selling at 81.50, they said. The rupee was also easier versus euro, falling 70 paisa for buying at Rs 109.40 and and slipping 75 paisa for selling at Rs 109.60, they said.
================================
Open Buying Rs 80.50
Open Selling Rs 81.50
================================
Interbank Closing Rates: Interbank Closing Rates For Dollar On Tuesday.
==============================
Buying Rs 79.85
Selling Rs 79.90
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 7.00 12.90 9.00 12.90 10.45
1-Week 11.75 12.00 12.00 12.25 12.00
2-Week 11.90 12.10 12.20 12.30 12.13
1-Month 12.20 12.30 12.35 12.40 12.31
2-Months 12.35 12.45 12.45 12.50 12.44
3-Months 12.40 12.50 12.50 12.60 12.50
4-Months 12.40 12.55 12.50 12.60 12.51
5-Months 12.45 12.60 12.55 12.65 12.56
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
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 13.00 29.00 14.00 30.00 21.50
1-Week 13.50 22.00 14.00 23.00 18.13
2-Week 14.00 18.00 15.00 19.00 16.50
1-Month 14.00 17.00 15.00 18.00 16.00
2-Months 14.00 17.00 15.00 18.00 16.00
3-Months 14.00 16.00 15.00 17.00 15.50
4-Months 14.00 16.00 15.00 17.00 15.50
5-Months 14.25 16.50 15.25 17.50 15.88
6-Months 14.25 16.50 15.25 17.50 15.88
9-Months 15.00 18.00 16.00 19.00 17.00
1-Year 15.00 18.00 16.00 19.00 17.00
=================================================================
RUPEE IN LAHORE: The rupee maintained downward slide and further declined by Rs 1.15 on buying side and Rs 1.35 on selling side in relation to the greenback in the Lahore currency market on Tuesday. The dollar's demand remained intact the pushed the local currency further down. The dollar kept on moving up and finally closed at Rs 81.15 on buying side and Rs 81.75 on selling side against the overnight closing of Rs 80.00 and Rs 80.40, respectively. Most of the moneychangers only preferred buying and avoided selling on the pretext of lacking stock that indicated further appreciation in the dollar's worth in the coming days, the market sources said.
Likewise, the rupee substantially declined against the pound sterling, which recorded highest gain in a single day. The pound's buying and selling rate jumped from Monday closing of Rs 139.00 and Rs 140.00 on buying and selling counters to Rs 142.75 and Rs 144.00, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar showed an improvement of Rs 2.20 against the rupee at the open currency markets of Islamabad and Rawalpindi on Tuesday. The dollar opened at Rs 82 (buying) and Rs 82.50 (selling) against last rate of Rs 79.80 (buying) and Rs 80.30 (selling). It did not observe further change in the second session and closed at Rs 82 (buying) and Rs 82.50 (selling). Pound Sterling opened at Rs 142.50 (buying) and Rs 143 (selling) against last rate of Rs 138 (buying) and Rs 138.40 (selling). It did not observe further change in the second session and closed at Rs 142.50 (buying) and Rs 143 (selling).
Comments
Comments are closed.