Bullish sentiment was seen on the interbank market on Tuesday as the rupee gained 40 paisa against dollar for buying at 79.40 and it also rose by 45 paisa for selling at 79.45, dealers said. After the International Monetary Fund deal, the rupee performed well in relation to the greenback and it is likely that the rupee may manage to hold its gain in the near future, they said.
In the second session of the Asian trade yen nudged lower against dollar but was underpinned by risk aversion as Tokyo shares fell following a drop in US stocks on deepening concerns about a global recession. Weak stock markets may prompt more unwinding of carry trades, in which investors borrow the low-yielding yen to buy higher-yielding currencies and assets, traders said. That would put a cap on dollar's rise against the yen.
OPEN MARKET RATES: The rupee managed to recover 50 paisa in relation to dollar for buying at 78.00 while it did not change in its value for selling at 79.00, they said. The rupee appreciated versus euro for buying and selling at Rs 98.25 and Rs 99.25, they said.
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Open Buying Rs 78.00
Open Selling Rs 79.00
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Tuesday.
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Buying Rs 79.40
Selling Rs 79.45
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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 1.00 5.00 1.50 6.00 3.38
1-Week 9.00 9.50 9.75 10.00 9.56
2-Week 10.00 10.75 10.25 11.00 10.50
1-Month 10.75 11.00 11.00 11.25 11.00
2-Months 12.60 12.80 12.80 13.00 12.80
3-Months 13.25 13.60 13.60 13.80 13.56
4-Months 13.50 13.75 13.75 14.00 13.75
5-Months 13.50 13.75 13.75 14.00 13.75
6-Months 13.60 14.00 14.00 14.25 13.96
9-Months 13.90 14.20 14.25 14.50 14.21
1-Year 14.00 14.25 14.30 14.55 14.28
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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 4.00 12.00 5.00 13.00 8.50
1-Week 12.00 14.00 13.00 15.00 13.50
2-Week 14.00 15.00 14.50 15.50 14.75
1-Month 15.00 15.50 15.50 16.00 15.50
2-Months 15.25 15.75 15.50 16.00 15.63
3-Months 15.50 16.00 16.00 16.50 16.00
4-Months 15.50 16.00 16.00 16.50 16.00
5-Months 15.75 16.25 16.25 16.75 16.25
6-Months 16.00 16.50 16.50 16.75 16.44
9-Months 16.25 16.75 16.75 17.00 16.69
1-Year 16.50 17.00 17.00 17.50 17.00
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RUPEE IN LAHORE: The rupee gained 100 paisa against dollar in Lahore currency market on Tuesday. The dollar remained under pressure and closed lower at Rs 78.00 and Rs 79.50 on buying and selling sides against overnight closing of Rs 79.00 and Rs 80.50, respectively. Similarly, the rupee gained strength against pound sterling. The pound's buying and selling rates decreased from Monday closing of Rs 117.00 and Rs 121.00 to Rs 115.50 and Rs 120.00 respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar was up by 50 paisa against rupee at the currency markets of Islamabad and Rawalpindi on Tuesday. The dollar opened at Rs 79.50 (buying) and Rs 80.50 (selling) against last rate of Rs 79 (buying) and Rs 80 (selling). It did not observe further change in the second session and closed at Rs 79.50 (buying) and Rs 80.50 (selling). Pound sterling opened at Rs 118 (buying) and Rs 120 (selling) against same overnight value. It did not observe further change in the second session and closed at Rs 118 (buying) and Rs 120 (selling).
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