The rupee extended its overnight gain against dollar on the currency market on Wednesday in the process of strong demand for dollars, dealers said. On the interbank market the rupee gained 15 paisa against the dollar for buying and selling at 83.10 and 83.15, they said. Rising demand for dollars kept the rupee under pressure and it seems that the local currency may show some slide in the near-future due to said reason, money exports.
In the third Asian trade dollar was on the defensive while higher-yielding currencies such as the Australian dollar held near their 2009 highs, buoyed by investors' search for returns.
OPEN MARKET RATES: The rupee followed the same pattern and rose by 10 paisa in terms of the greenback for buying and selling at 83.00 and 83.10, dealers said. The rupee, however, fell versus euro, losing 25 paisa for buying and selling at Rs 121.80 and Rs 122.30, they said.
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Buying Rs 83.10
Selling Rs.83.15
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Open Buying Rs.83.00
Open Selling Rs.83.10
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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 12.25 12.75 12.40 12.90 12.58
1-Week 12.10 12.35 12.35 12.45 12.31
2-Week 12.10 12.30 12.35 12.45 12.30
1-Month 12.15 12.30 12.35 12.45 12.31
2-Months 12.00 12.25 12.25 12.35 12.21
3-Months 12.00 12.25 12.25 12.35 12.21
4-Months 12.00 12.25 12.20 12.40 12.21
5-Months 12.00 12.30 12.20 12.40 12.23
6-Months 12.00 12.30 12.20 12.50 12.25
9-Months 12.10 12.35 12.30 12.50 12.31
1-Year 12.20 12.35 12.30 12.55 12.35
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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 12.25 12.75 12.50 12.90 12.60
1-Week 12.15 12.40 12.50 12.60 12.41
2-Week 12.15 12.40 12.50 12.55 12.40
1-Month 12.15 12.40 12.50 12.55 12.40
2-Months 12.20 12.35 12.45 12.60 12.40
3-Months 12.25 12.35 12.45 12.60 12.41
4-Months 12.25 12.45 12.50 12.60 12.45
5-Months 12.30 12.45 12.50 12.65 12.48
6-Months 12.45 12.60 12.55 12.65 12.56
9-Months 12.45 12.60 12.55 12.70 12.58
1-Year 12.45 12.65 12.60 12.70 12.60
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RUPEE IN LAHORE: The Pak rupee-dollar parity remained unchanged amid sluggish trading trend in the local currency market on Wednesday. There was no visible change in the dollar's demand and supply situation that helped rupee stability against the dollar, the currency dealers said. The dollar resumed trading at overnight closing of Rs 83.00 and Rs 83.20, as its buying and selling rates, respectively. The dollar showed fractional change in its value during the day's trading but finally closed at the opening level, the dealers said.
On the contrary, the rupee could not maintain its position against the British pound and was declined on buying side while it stayed unchanged on selling side. The pound was purchased and sold at Rs 132.50 and Rs 133.50, as compared to last day closing of Rs 132.00 and Rs 133.50, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi here on Wednesday. The dollar opened at Rs 82.70 (buying) and Rs 82.80 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 82.70 (buying) and Rs 82.80 (selling). Pound Sterling opened at Rs 131.40 (buying) and Rs 132.40 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 131.40 (buying) and Rs 132.40 (selling).
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