The rupee showing its muscles on expectations of improving inflows, recovered 25 paisa against dollar for buying at 81.45 and it also gained 20 paisa for selling at 81.55 in the interbank market on Friday, currency experts said. The rupee may improve further in terms of dollar in days to come, they said.
Amid final Asian session yen rose against dollar and euro as a drop in Tokyo share prices renewed investor concern over riskier assets, while players cautiously awaited the Bank of Japan's policy decision due later in the day.
The weakness in stocks reflected gloomy prospects for the world's economies despite global interest rate cuts -- prospects, which weighed on high-yielding currencies, traders said.
OPEN MARKET RATES: The rupee extended its overnight gains, rising 45 paisa for buying at 82.85 and it also rose by 70 paisa for selling at 83.30, they said. The rupee appreciated sharply against euro for buying and selling at Rs 105.35 and Rs 106.35, they said.
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Open Buying Rs 82.85
Open Selling Rs 83.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Friday.
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Buying Rs 81.45
Selling Rs 81.55
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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 11.00 12.90 11.50 12.90 12.08
1-Week 11.50 12.00 11.90 12.10 11.88
2-Week 11.75 12.00 12.00 12.20 11.99
1-Month 11.75 12.10 12.20 12.40 12.11
2-Months 12.25 12.45 12.40 12.55 12.41
3-Months 12.25 12.50 12.40 12.60 12.44
4-Months 12.35 12.50 12.45 12.55 12.46
5-Months 12.40 12.55 12.50 12.60 12.51
6-Months 12.50 12.60 12.55 12.65 12.58
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 13.00 18.00 14.00 19.00 16.00
1-Week 14.00 17.00 14.50 18.00 15.88
2-Week 14.00 17.00 14.50 18.00 15.88
1-Month 14.50 16.00 15.00 17.00 15.63
2-Months 14.50 16.00 15.00 17.00 15.63
3-Months 15.00 16.50 15.50 17.00 16.00
4-Months 15.00 16.50 16.00 17.50 16.25
5-Months 15.00 17.00 16.00 18.00 16.50
6-Months 15.50 17.00 16.00 18.00 16.63
9-Months 16.00 17.50 16.50 18.00 17.00
1-Year 16.00 17.50 17.00 18.50 17.25
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RUPEE IN LAHORE: The Pak rupee failed to maintain its upward move and lost 50 paisa in relation to the greenback in the Lahore currency market on Friday. The dollar witnessed increase in demand that helped its appreciation against the local currency. At the end of trading, the dollar moved up and closed at Rs 83.50 and Rs 84.50 on buying and selling sides against the overnight closing of Rs 83.00 and Rs 84.00, respectively. On the contrary, the rupee recovered its position and showed strength against the pound sterling. The pound was purchased and sold at Rs 135.50 and Rs 138.00 as compared to Thursday closing of Rs 137.50 and Rs 139.50, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee showed an improvement of 50 paisa against the dollar at the open currency markets of Islamabad and Rawalpindi on Friday. The dollar opened at Rs 83 (buying) and Rs 83.50 (selling) against last day's closing rate of Rs 83.50 (buying) and Rs 84 (selling). It did not show any further change in the second session and closed at Rs 83 (buying) and Rs 83.50 (selling). Pound Sterling opened at Rs 136 (buying) and Rs 137 (selling) against last day's closing rate of Rs 138 (buying) and Rs 139 (selling). It did not show any further change in the second session and closed at Rs 136 (buying) and Rs 137 (selling).
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