Steady trend was observed in the interbank market on Monday as the rupee posted fresh gain of five paisa against dollar for buying and selling, respectively, at 78.75 and 78.80, dealers said. The rupee retained its firmness due to strong supply of dollars, they said.
In Asian markets, the euro extended its last week's losses against other major currencies in Asia as traders anticipated hefty interest rate cut by the European Central Bank (ECB) later in the week. The euro fell to 1.2662 dollars in Tokyo morning trade from 1.2695 in New York late Friday, and dropped to 120.65 yen from 121.19.
The dollar edged down to 95.27 yen from 95.61. "Investors are still selling the euro, a trend which has not changed from last week," said Masatsugu Miyata, a forex dealer at Hachijuni Bank.
OPEN MARKET RATES: The rupee gained 20 paisa against dollar for buying at Rs 77.80, while it did not show any change for selling at 78.30, dealers said. The rupee maintained its firmness versus euro for buying and selling at Rs 97.60 and Rs 98.00, respectively, they added.
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Open Buying Rs 77.80
Open Selling Rs 78.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Monday.
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Buying Rs 78.75
Selling Rs 78.80
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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 0.50 10.50 1.00 11.00 5.75
1-Week 8.00 10.50 8.50 11.00 9.50
2-Week 8.75 10.75 9.50 11.00 10.00
1-Month 9.75 11.00 10.50 11.25 10.63
2-Months 12.40 12.75 12.70 13.00 12.71
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 3.00 13.00 4.00 14.00 8.50
1-Week 10.00 13.00 11.00 14.00 12.00
2-Week 11.50 13.50 12.50 14.50 13.00
1-Month 14.00 16.00 15.00 16.50 15.38
2-Months 15.00 16.00 15.50 16.50 15.75
3-Months 15.00 16.00 16.00 16.50 15.88
4-Months 15.50 16.50 16.00 17.00 16.25
5-Months 16.00 16.50 16.50 17.00 16.50
6-Months 16.00 16.50 16.50 17.00 16.50
9-Months 16.25 16.75 16.75 17.25 16.75
1-Year 16.50 17.00 17.00 17.50 17.00
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RUPEE IN LAHORE: The Pak rupee opened on a healthy note and improved its value by 30 paisa on buying side while it remained unchanged on selling side in relation to the greenback in the Lahore currency market on Monday. The dollar failed to maintain its last week closing level and slide down to Rs 77.50 from Rs 77.80 while its selling rate stayed unchanged at Saturday closing of Rs 78.50. Similarly, the rupee remained strong and appreciated its worth against the British pound.
The pound was traded at Rs 118.50 and Rs 120.00 as compared to previous week closing of Rs 120.00 and Rs 121.50 on buying and selling rates, respectively. Most of the moneychangers were only buying and avoiding sale of the pound sterling in anticipation of further increase in pound's value in the coming days.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi on Monday. The dollar opened at Rs 77.50 (buying) and Rs 78.50 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 77.50 (buying) and Rs 78.50 (selling). Pound Sterling opened at Rs 116.00 (buying) and Rs 117.00 (selling) against last rate of Rs 119.00 (buying) and Rs 120.00 (selling). It did not observe further change in the second session and closed at Rs 116.00 (buying) and Rs 117.00 (selling).
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