Mixed pattern was again witnessed on the currency market on Saturday in process of persisting demand for dollars, dealers said. On the interbank market the rupee drifted lower against dollar shedding nine paisa for buying at 83.04 and dropped by eight paisa for selling 83.08, they said.
Rising dollar buying to meet the import bills, pushed the rupee down and it is likely that the local currency may come under pressure despite healthier trend in the foreign exchange reserves, they said.
In the NY at the weekend, the US dollar sank to its lowest in more than seven months against yen, weighed down by comments overnight from Japan's Finance Minister Hirohisa Fujii saying he was against deliberately weakening yen or any other currency. Traders cited a Kyodo News report saying Fujii told US Treasury Secretary Timothy Geithner in a meeting on Thursday evening he was opposed to manipulating the value of yen.
OPEN MARKET RATES: The rupee retained its overnight levels versus dollar for buying and selling at 82.90 and 83.00, dealers said. Meanwhile, the rupee gained 12 paisa in relation to euro for buying at Rs 120.80 and rose by 10 paisa for selling at Rs 121.30, they said.
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Open Buying Rs 82.90
Open Selling Rs 83.00
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Saturday.
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Buying Rs.83.04
Selling Rs.83.08
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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 12.20 12.90 12.30 12.90 12.58
1-Week 12.10 12.30 12.20 12.35 12.24
2-Week 12.10 12.30 12.25 12.35 12.25
1-Month 12.00 12.25 12.20 12.30 12.19
2-Months 11.85 12.20 12.20 12.30 12.14
3-Months 11.85 12.20 12.15 12.30 12.13
4-Months 11.85 12.15 12.15 12.30 12.11
5-Months 11.90 12.20 12.15 12.30 12.14
6-Months 11.90 12.25 12.15 12.30 12.15
9-Months 11.90 12.25 12.20 12.35 12.18
1-Year 11.90 12.25 12.20 12.35 12.18
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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 12.10 12.90 12.25 12.95 12.55
1-Week 12.15 12.35 12.25 12.40 12.29
2-Week 12.15 12.35 12.25 12.40 12.29
1-Month 12.20 12.30 12.30 12.40 12.30
2-Months 12.20 12.30 12.30 12.40 12.30
3-Months 12.25 12.35 12.30 12.40 12.33
4-Months 12.25 12.45 12.30 12.50 12.38
5-Months 12.30 12.45 12.35 12.50 12.40
6-Months 12.45 12.60 12.50 12.65 12.55
9-Months 12.45 12.60 12.50 12.65 12.55
1-Year 12.45 12.65 12.50 12.70 12.58
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RUPEE IN LAHORE: The rupee shed 5 paisa on buying side to Rs 82.80 against dollar while it remained unchanged on the selling side at Rs 83.00 at Lahore currency market on Saturday. According to currency dealers, the dollar moved up to Rs 82.80 while it stayed at overnight Rs 83.00 on selling counter against Friday's Rs 82.75 and Rs 83.00, respectively. On the other hand, the rupee gained against pound, which was purchased and sold at Rs 133.10 and Rs 134.00 against previous Rs 134.00 and Rs 135.50, respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Saturday. The dollar opened at Rs 82.50 (buying) and Rs 82.60 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 82.50 (buying) and Rs 82.60 (selling). Pound Sterling opened at Rs 133.60 (buying) and Rs 134.60 (selling) against the previous rate. It did not observe further change in the evening session and closed at Rs 133.60 (buying) and Rs 134.60 (selling).
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