Sharp decline was seen in the rupees value against the dollar on the currency market on Friday on persistent demand for the US currency in the absence of political and economic stability in the country, dealers said. On the interbank market the rupee lost 35 paisa versus the dollar for buying and selling at 80.60 and 80.65, they said.
Economic and political instability caused rising uncertainties among the local and foreign investors. Besides, higher demand for dollar pushed the rupee down sharply, they added. Amid final session of the Asian trade, the dollar tumbled, retreating from a three-year peak against a basket of currencies hit this week, as investors braced for data expected to show an acceleration in US job losses last month.
It shed more than one percent against the Swiss franc and fell steeply against euro and sterling as traders readied for an expected rise in unemployment in the worlds largest economy.
OPEN MARKET RATES: The rupee drifted lower in relation to the dollar, losing 50 paisa for buying at 80.30 and it also fell by 30 paisa for selling at 80.60, they said. The rupee continued its weakness in terms of the euro, falling 90 paisa for buying at Rs 101.70 and by Rs 1.70 at Rs 103.70, they added.
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Open Buying Rs 80.30
Open Selling Rs 80.60
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Friday.
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Buying Rs 80.60
Selling Rs 80.65
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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 13.00 14.90 14.00 14.90 14.20
1-Week 10.75 11.25 11.25 11.75 11.25
2-Week 10.75 11.25 11.25 11.50 11.19
1-Month 10.80 11.10 11.10 11.25 11.06
2-Months 10.75 11.20 11.25 11.40 11.15
3-Months 10.75 11.25 11.25 11.50 11.19
4-Months 11.10 11.30 11.30 11.60 11.33
5-Months 11.15 11.35 11.35 11.60 11.36
6-Months 11.15 11.40 11.40 11.60 11.39
9-Months 11.25 11.50 11.50 11.75 11.50
1-Year 11.35 11.65 11.60 11.90 11.63
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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 14.00 14.90 14.50 15.00 14.60
1-Week 11.25 12.00 11.50 12.50 11.81
2-Week 11.25 12.25 11.75 12.50 11.94
1-Month 11.50 12.25 12.00 12.75 12.13
2-Months 11.75 13.00 12.25 13.25 12.56
3-Months 12.25 13.50 12.75 13.75 13.06
4-Months 12.50 13.50 13.00 14.00 13.25
5-Months 12.75 13.75 13.25 14.00 13.44
6-Months 12.90 13.75 13.25 14.10 13.50
9-Months 13.50 14.00 13.75 14.25 13.88
1-Year 13.75 14.25 14.00 14.50 14.13
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RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar was plus by 10 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi on Friday.
The dollar opened at Rs 79.80 (buying) and Rs 79.90 (selling) against last rate of Rs 79.70 (buying) and Rs 79.80 (selling). It did not observe further change in the evening session and closed at Rs 79.80 (buying) and Rs 79.90 (selling). Pound Sterling opened at Rs 112.70 (buying) and Rs 113.70 (selling) against last rate of Rs 112.50 (buying) and Rs 113.50 (selling). It did not observe further change in the evening session and closed at Rs 112.70 (buying) and Rs 113.70 (selling).
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