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The rupee retained its overnight level against dollar on the interbank market on Thursday for buying and selling at 81.00 and at 81.10. It was higher versus dollar in open market, currency analysts said. Easy supply of dollars helped the rupee to maintain its gains despite the strong demand for the US currency, they added.
In the fourth Asian trading euro and sterling fell against dollar, pressured by expectations that the European Central Bank and the Bank of England (BoE) will cut interest rates to prevent their economies from deteriorating further.
The yen firmed against higher-yielding currencies as fears of a global recession prompted investors to unwind risky carry trades, in which investors use the low-yielding yen to fund purchases of assets offering higher returns elsewhere. Tokyo's Nikkei share average fell 7.1 percent, also prompting Japanese fund managers to dump overseas assets.
OPEN MARKET RATES: The rupee managed to sustain its rising trend against dollar, gaining 1.05 for buying at 80.50 and it also rose by 75 paisa for selling at 81.00, they said. The rupee gained in terms of euro for buying and selling at Rs 103.25 and Rs 104.25, they said.



================================
Open Buying Rs 80.50
Open Selling Rs 81.00
================================

Interbank Closing Rates: Interbank Closing Rates For Dollar On Thursday.



==============================
Buying Rs 81.00
Selling Rs 81.10
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 0.75 9.00 1.00 10.00 5.19
1-Week 9.50 10.50 10.00 10.75 10.19
2-Week 10.75 11.60 11.25 11.75 11.34
1-Month 11.75 12.25 12.10 12.40 12.13
2-Months 12.75 13.10 13.20 13.40 13.11
3-Months 12.90 13.10 13.50 13.60 13.28
4-Months 12.95 13.25 13.55 13.65 13.35
5-Months 12.95 13.30 13.50 13.70 13.36
6-Months 13.00 13.50 13.60 13.75 13.46
9-Months 13.00 13.60 13.65 13.75 13.50
1-Year 13.20 13.70 13.70 13.80 13.60
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 2.00 15.00 3.00 16.00 9.00
1-Week 13.00 15.00 13.50 16.00 14.38
2-Week 14.00 16.00 14.50 17.00 15.38
1-Month 15.00 16.50 15.50 17.00 16.00
2-Months 15.50 16.50 16.00 17.00 16.25
3-Months 16.00 17.00 16.50 18.00 16.88
4-Months 16.00 17.00 16.50 18.00 16.88
5-Months 16.50 17.50 17.00 18.00 17.25
6-Months 16.50 17.50 17.00 18.50 17.38
9-Months 17.00 18.00 18.00 19.00 18.00
1-Year 17.00 18.00 18.00 19.00 18.00
=================================================================

RUPEE IN LAHORE: The rupee continued rising trend and appreciated its value by 50 paisa in relation to the greenback in the open market on Thursday. The dollar remained under selling pressure that provided support to the local currency. The dollar's buying and selling rate slide down to Rs 81.00 and Rs 82.00 on buying and selling counters as compared to overnight closing of Rs 81.50 and Rs 82.50, respectively.
Similarly, the rupee maintained upward trend and gained strength against the pound sterling. The pound's buying and selling rate decreased to Rs 129.50 and Rs 132.00 against the Wednesday closing of Rs 130 and Rs 133.00, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee showed an increase of Re 1 against the dollar at the open currency markets of Islamabad and Rawalpindi on Thursday. The dollar opened at Rs 81.00 (buying) and Rs 82.00 (selling) against the last rate of Rs 82.00 (buying) and Rs 82.50 (selling). It did not observe further change in the second session and closed at Rs 81.00 (buying) and Rs 82.00 (selling).
Pound Sterling opened at Rs 130.00 (buying) and Rs 131.00 (selling) against the last rate. It did not observe further change in the second session and closed at Rs 130.00 (buying) and Rs 131.00 (selling).
Copyright Business Recorder, 2008

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