Bullish sentiment was seen on the interbank market on Thursday as the rupee recovered eight paisa against dollar for buying at 80.50 and it also gain 2 paisa for selling at 80.60, dealers said. Commenting on the appreciation of the rupee money experts said that hopes for improvement in inflows in shape of financial assistance to the country strengthened the rupee.
Meanwhile rising dollar demand may not allow the rupee to retain its firmness because this is the final quarter of the current fiscal year, importers will buy dollars to clear the payments, mainly for oil, they said. If dollars supply fails to meet the demand by the importers then it is possible the rupee may shed some gains, they added.
Amid fourth session yen fell, losing ground to higher-yielding currencies as stock markets rose on hopes a deep recession is moderating, but ranges were tight as the market awaited a European Central Bank policy decision.
OPEN MARKET RATES: The rupee maintained its overnight level against dollar for buying at 80.40 while it shed 10 paisa for selling at 80.70, they said. The rupee tumbled versus the single European currency losing 70 paisa for buying and selling at Rs 106.20 and Rs 107.20, they added.
================================
Open Buying Rs 80.40
Open Selling Rs 80.70
================================
Interbank Closing Rates: Interbank Closing Rates For Dollar On Thursday.
==============================
Buying Rs 80.50
Selling Rs 80.60
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 2.00 13.00 3.00 13.50 7.88
1-Week 12.25 13.00 12.50 13.25 12.75
2-Week 12.25 12.75 12.50 13.00 12.63
1-Month 12.25 12.75 12.50 12.90 12.60
2-Months 11.50 11.90 11.90 12.10 11.85
3-Months 11.50 11.85 11.75 12.00 11.78
4-Months 11.60 11.90 11.80 12.00 11.83
5-Months 11.65 11.90 11.85 12.00 11.85
6-Months 11.70 12.00 11.90 12.10 11.93
9-Months 11.75 12.05 11.95 12.20 11.99
1-Year 11.75 12.10 11.95 12.20 12.00
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 4.00 13.00 4.50 13.50 8.75
1-Week 12.75 13.50 13.00 13.75 13.25
2-Week 12.50 13.25 13.00 13.50 13.06
1-Month 12.50 13.25 13.00 13.50 13.06
2-Months 12.75 13.25 13.25 13.50 13.19
3-Months 12.75 13.30 13.25 13.60 13.23
4-Months 12.90 13.35 13.30 13.45 13.25
5-Months 13.00 13.50 13.40 13.60 13.38
6-Months 13.00 13.60 13.50 13.75 13.46
9-Months 13.20 13.75 13.50 14.00 13.61
1-Year 13.30 13.75 13.40 14.00 13.61
=================================================================
RUPEE IN LAHORE: The Pak rupee maintained downward slide and further depreciated by five paisa in relation to the greenback in the open currency market on Thursday. The dollars demand remained intact that helped its appreciation against the local currency.
The dollar, after resuming trading at Rs 80.45 and Rs 80.75 of Wednesday, moved up and closed at Rs 80.50 and Rs 80.80 on buying and selling counters, respectively. Likewise, the rupee continued to decline against the British pound. The pounds buying and selling rates showed significant improvement and finished higher at Rs 116.50 and Rs 118.00 as compared to overnight closing of Rs 114.80 and Rs 115.80, respectively, the moneychangers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi on Thursday. The dollar opened at Rs 80.30 (buying) and Rs 80.40 (selling) against the same overnight value.
It did not observe further change in the evening session and closed at Rs 80.30 (buying) and Rs 80.40 (selling). Pound Sterling opened at Rs 113 (buying) and Rs 114 (selling) against the same last rate. It did not observe further fluctuation by the end of evening session and closed at Rs 113 (buying) and Rs 114 (selling).
Comments
Comments are closed.