Bears dominated the interbank market on Saturday as the rupee lost 15 paisa versus dollar for buying and selling at 83.35 and 83.40, dealers said. Increasing demand for dollars pushed the rupee down and it is likely that the buying of US currency may increase in the coming days to clear the payments, they said.
At the weekend the interesting feature appeared as dollar and euro soared against sterling after data showing the UK economy was still mired in recession stunned investors who had expected it to return to growth. The pound shed almost four cents against dollar as it fell from a six-week high after the British Government said the economy contracted 0.4 percent between July and September, making the current recession the longest on record.
The euro also gained against sterling, supported partly by data that suggested the euro zone recovery is gathering pace. But it retreated against dollar after hitting a fresh 14-month high around $1.5060.
OPEN MARKET RATES: The rupee failed to over come its weakness, coming down more with a loss of 15 paisa against the greenback for buying and selling at 83.60 and 83.70 respectively, dealers said. The rupee did not move any side against euro for buying at Rs 124.95 while it gained 25 paisa for selling at Rs 125.45, they said.
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Buying Rs 83.35
Selling Rs 83.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Saturday.
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Open Buying Rs.83.60
Open Selling Rs.83.70
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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 12.50 12.40 12.75 12.46
1-Week 12.00 12.30 12.35 12.45 12.28
2-Week 12.00 12.35 12.35 12.45 12.29
1-Month 12.10 12.40 12.40 12.50 12.35
2-Months 12.10 12.35 12.30 12.40 12.29
3-Months 12.10 12.30 12.30 12.40 12.28
4-Months 12.10 12.30 12.30 12.40 12.28
5-Months 12.15 12.30 12.30 12.40 12.29
6-Months 12.15 12.30 12.35 12.45 12.31
9-Months 12.20 12.40 12.35 12.50 12.36
1-Year 12.20 12.40 12.35 12.50 12.36
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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 12.60 12.50 12.90 12.56
1-Week 12.25 12.40 12.45 12.50 12.40
2-Week 12.25 12.40 12.40 12.50 12.39
1-Month 12.30 12.45 12.45 12.50 12.43
2-Months 12.30 12.45 12.45 12.60 12.45
3-Months 12.30 12.50 12.45 12.60 12.46
4-Months 12.30 12.50 12.50 12.60 12.48
5-Months 12.35 12.55 12.50 12.65 12.51
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 rupee lost 20 paisa against dollar on buying side and 10 paisa on selling side on Lahore currency market on Saturday. According to moneychangers, the dollar ended at Rs 83.70 and Rs 83.90 against overnight rates of Rs 83.50 and Rs 83.80 for buying and selling, respectively.
On the contrary, the rupee recovered some of its losses against pound. The pound's buying and selling rates slid down from Friday's Rs 139.00 and Rs 140.00 to Rs 135.50 and Rs 137.00, respectively, moneychangers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against rupee at the currency markets of Islamabad and Rawalpindi on Saturday. The dollar opened at Rs 83.30 (buying) and Rs 83.40 (selling) against same overnight values. It did not observe further change in the evening session and closed at Rs 83.30 (buying) and Rs 83.40 (selling).
Pound sterling opened at Rs 136.30 (buying) and Rs 136.50 (selling) against same previous rates. It did not observe further change in the evening session and closed at Rs 136.30 (buying) and Rs 136.50 (selling).
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