The rupee touched the new high on the interbank market on Tuesday after the International Monetary Fund (IMF) approved a 7.6 billion dollars loan to avert a balance of payments crisis and the government defaulting on its international debt obligations.
The rupee gained 15 paisa in relation to dollar for buying and selling at 78.90 and 78.95 on the interbank market in process of trading, dealers said. The rupee was able the expand it's gain due to IMF agreement and it is likely that the rupee may travel in plus territory in the near future, they said.
In the second session of the week, yen edged up against the euro after falling around 5 percent the previous day on a rally in US stocks as the US government agreed to inject $20 billion of new capital to rescue troubled Citigroup.
OPEN MARKET RATES: The rupee failed to perform as it did on the interbank market, giving its firmness, losing 10 paisa for buying at 77.80 and it was also down by 30 paisa for selling at 78.50, they said. Meanwhile, the rupee moved both ways against the euro for buying and selling at Rs 98.80 and Rs 99.00, they said.
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Open Buying Rs 77.80
Open Selling Rs 78.50
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Tuesday.
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Buying Rs 78.90
Selling Rs 78.95
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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 8.00 11.50 8.50 12.00 10.00
1-Week 9.25 10.25 9.50 10.50 9.88
2-Week 10.00 10.50 10.50 10.75 10.44
1-Month 10.00 10.25 10.50 11.00 10.44
2-Months 12.25 12.60 12.50 13.00 12.59
3-Months 12.90 13.25 13.25 13.50 13.23
4-Months 13.25 13.75 13.50 14.00 13.63
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 11.00 14.00 12.00 15.00 13.00
1-Week 12.50 14.00 13.00 15.00 13.63
2-Week 13.00 15.00 14.00 15.50 14.38
1-Month 14.00 15.50 15.50 16.00 15.25
2-Months 15.00 15.75 15.50 16.00 15.56
3-Months 15.00 16.00 16.00 16.50 15.88
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-dollar parity remained unchanged amid sluggish trading in the Lahore currency market on Tuesday. The dollar was traded at overnight closing level of Rs 77.50 and Rs 78.50 on buying and selling sides, respectively. However, the pound was purchased and sold at Rs 117.50 and Rs 119.50 on selling sides as compared to Monday closing of Rs 117.00 and Rs 119.00, respectively.
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