Range-bound trading was seen on the interbank market on Wednesday, as the rupee's fluctuation was narrow versus dollar mainly because of strong supply of dollars, dealers said. On the interbank market the rupee gained one paisa in relation to the US currency for buying 83.45, it, however, shed the same amount for selling at 83.50, they added.
In the Third Asian markets dollar drifted sideways after short-covering waned in Asia and as investors waited for US inflation data, as well as for minutes from the Bank of England's November meeting for clues on its decision to expand its asset buying programme.
OPEN MARKET RATES: The rupee failed to maintain its gains against dollar, falling five paisa for buying and selling at 83.50 and 83.60, dealers said. The rupee, however, rose by 20 paisa versus euro for buying and selling at Rs 123.70 and Rs 124.20, they said.
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Open Buying Rs 83.50
Open Selling Rs.83.60
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Buying Rs.83.45
Selling Rs.83.50
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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 12.50 12.90 12.60
1-Week 12.00 12.40 12.35 12.45 12.30
2-Week 12.05 12.45 12.35 12.50 12.34
1-Month 12.10 12.40 12.40 12.45 12.34
2-Months 12.10 12.35 12.30 12.40 12.29
3-Months 12.10 12.30 12.25 12.35 12.25
4-Months 12.00 12.30 12.25 12.35 12.23
5-Months 12.00 12.30 12.25 12.35 12.23
6-Months 11.90 12.30 12.25 12.35 12.20
9-Months 11.90 12.40 12.30 12.40 12.25
1-Year 11.90 12.40 12.30 12.40 12.25
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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 12.30 12.80 12.60 12.90 12.65
1-Week 12.25 12.50 12.40 12.60 12.44
2-Week 12.25 12.60 12.34 12.65 12.46
1-Month 12.25 12.60 12.45 12.70 12.50
2-Months 12.30 12.60 12.45 12.75 12.53
3-Months 12.30 12.60 12.45 12.75 12.53
4-Months 12.35 12.65 12.50 12.75 12.56
5-Months 12.40 12.70 12.50 12.85 12.61
6-Months 12.45 12.70 12.50 12.85 12.63
9-Months 12.45 12.75 12.55 12.90 12.66
1-Year 12.45 12.80 12.75 13.00 12.75
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RUPEE IN LAHORE: The dollar-rupee parity remained unchanged for the second consecutive day in the local currency markets amid low trading volume on Wednesday. According to the currency dealers, the demand and supply situation of the greenback remained unchanged in the absence of fresh buying activity. Due to this, the dollar was traded at Tuesday's closing levels of Rs 83.40 and Rs 83.70 as its buying and selling rates, respectively.
However, some of the moneychangers quoted buying rate of the dollar as Rs 83.45. On the contrary, the local currency remained weak against the British pound. The pound's buying and selling rates were increased to Rs 138.70 and Rs 139.50 as compared to Tuesday's closing rates of Rs 138.00 and Rs 139.00, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar showed improvement of 10 paisa against rupee at the currency markets of Islamabad and Rawalpindi on Wednesday. The dollar opened at Rs 83.40 (buying) and Rs 83.50 (selling) against last rates of Rs 83.30 (buying) and Rs 83.40 (selling). It did not observe further change in the second session and closed at Rs 83.40 (buying) and Rs 83.50 (selling).
Pound sterling opened at Rs 137.50 (buying) and Rs 137.70 (selling) against last rates of Rs 136.80 (buying) and Rs 137 (selling). It did not observe further change in the evening session and closed at Rs 137.50 (buying) and Rs 137.70 (selling).
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