Strong demand for dollars, pushed the rupee sharply lower on the currency market on Tuesday, dealers said. On the interbank market the rupee fell steeply against the dollar for buying and selling at 84.60 and 84.65, they said.
In the second session of Asian trade euro fell to a four-month low against sterling on Tuesday but signs that China is stepping up quantitative tightening helped it recover from a two-year trough versus the Aussie, with investors trimming positions in riskier assets such as growth-linked currencies.
Sterling hit a six-week high against dollar, drawing strength after reports that US-based Kraft Foods Inc and Britain's Cadbury Plc were arranging a $19 billion deal to create the world's largest confectionery group, traders said.
OPEN MARKET RATES: The rupee continued its weakness in terms of dollar, losing 15 paisa for buying and selling at 85.45 and 85.55, they added. The rupee extended its slide against euro, shedding 50 paisa for buying and selling at Rs 122.05 and Rs 122.55, they said.
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Buying Rs 84.60
Selling Rs.84.65
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Open Buying Rs.85.45
Open Selling Rs.85.55
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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 12.40 12.30 12.40 12.34
1-Week 11.75 12.00 12.00 12.20 11.99
2-Week 11.70 12.00 11.95 12.10 11.94
1-Month 11.75 12.00 12.00 12.10 11.96
2-Months 11.75 11.95 11.95 12.05 11.93
3-Months 11.80 11.95 12.00 12.05 11.95
4-Months 11.85 12.00 12.00 12.10 11.99
5-Months 11.85 12.00 12.00 12.10 11.99
6-Months 11.90 12.05 12.05 12.15 12.04
9-Months 11.90 12.05 12.05 12.15 12.04
1-Year 11.95 12.05 12.05 12.15 12.05
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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 12.45 12.40 12.50 12.40
1-Week 12.00 12.25 12.10 12.30 12.16
2-Week 12.00 12.15 12.10 12.25 12.13
1-Month 12.00 12.15 12.15 12.20 12.13
2-Months 12.00 12.15 12.10 12.25 12.13
3-Months 12.00 12.25 12.15 12.30 12.18
4-Months 12.15 12.25 12.20 12.30 12.23
5-Months 12.15 12.30 12.20 12.35 12.25
6-Months 12.15 12.30 12.25 12.35 12.26
9-Months 12.15 12.40 12.35 12.45 12.34
1-Year 12.25 12.45 12.40 12.50 12.40
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RUPEE IN LAHORE: The rupee lost 20 paisa on buying side and 10 paisa on selling side in relation to dollar in Lahore currency market on Tuesday. According to dealers, the dollar closed higher at Rs 85.50 and Rs 85.80 on buying and selling sides against overnight closing of Rs 85.30 and Rs 85.70, respectively. Similarly, the rupee depreciated against pound sterling, which was purchased and sold at Rs 138.50 and Rs 139.50 as compared to Monday closing of Rs 138.10 and Rs 139.00, respectively, 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 Tuesday. The dollar resumed trading at Rs 85.00 (buying) and Rs 85.10 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 85.00 (buying) and Rs 85.10 (selling).
Pound Sterling opened at Rs 137.90 (buying) and Rs 138.00 (selling) against the previous rate. It did not witness any change in the evening session and closed at Rs 137.90 (buying) and Rs 138.00 (selling).
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