Bearish sentiment was seen on the interbank market on Monday as the rupee shed five paisa versus dollar for buying and selling at 81.20 and 81.25, dealers said. Dollar buying pressure kept the rupee in the negative territory ahead of the end of financial year 2008-09, they added.
In the beginning session of the week dollar lost its footing and headed back to multi-month lows against commodity-related currencies, euro and sterling as investor appetite for higher-yielding assets continued to recover. Markets took in stride news that General Motors Corp would file for Chapter 11 bankruptcy protection later on Monday, with the move long expected.
OPEN MARKET RATES: The rupee lost 20 paisa against dollar for buying at 81.10 and drifted lower by 10 paisa for selling at 81.20, they said. In the meantime the rupee halted erosion versus euro, holding its weekend levels for buying and selling at Rs 113.50 and Rs 114.50, they said.
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Open Buying Rs 81.10
Open Selling Rs 81.20
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Interbank Closing Rates: Interbank Closing Rates For Dollar On Monday.
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Buying Rs 81.20
Selling Rs 81.25
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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 12.00 12.50 12.50 13.00 12.50
1-Week 12.45 12.90 13.00 13.15 12.88
2-Week 12.50 12.85 13.00 13.10 12.86
1-Month 12.60 13.00 13.00 13.25 12.96
2-Months 12.65 13.10 13.20 13.30 13.06
3-Months 12.65 13.10 13.20 13.30 13.06
4-Months 12.75 13.15 13.20 13.30 13.10
5-Months 12.75 13.15 13.10 13.30 13.08
6-Months 12.70 13.20 13.20 13.30 13.10
9-Months 12.90 13.20 13.25 13.30 13.16
1-Year 13.00 13.25 13.25 13.30 13.20
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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 12.50 13.00 13.00 13.50 13.00
1-Week 12.75 13.00 12.90 13.25 12.98
2-Week 12.75 13.25 12.90 13.40 13.08
1-Month 13.00 13.35 13.20 13.50 13.26
2-Months 13.25 13.50 13.40 13.60 13.44
3-Months 13.25 13.60 13.50 13.75 13.53
4-Months 13.25 13.65 13.50 13.75 13.54
5-Months 13.30 13.75 13.50 13.85 13.60
6-Months 13.35 13.75 13.50 13.80 13.60
9-Months 13.40 13.75 13.50 13.80 13.61
1-Year 13.40 13.75 13.50 13.90 13.64
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RUPEE IN LAHORE: The Pak-rupee opened on a negative sing and lost ten-paisa in its worth against the dollar in the Lahore currency market on Monday. According to the currency dealers, the dollar showed strength because of increase in its demand that pushed the rupee's value down.
The dollar was traded at Rs 80.90 and Rs 81.20 against the last week closing of Rs 80.80 and Rs 81.10 on buying and selling sides, respectively, the dealers said. Similarly, the rupee continued last week downward move and further depreciated against the pound sterling. It further declined to Rs 131.00 and Rs 133.00 as compared to last Saturday closing of Rs 129.15 and Rs 130.25, on buying and selling counters, respectively, the dealers added.
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