Rates moved both ways on the local currency market on Thursday, dealers said. On the interbank market the rupee managed to recover 12 paisa against dollar for buying and selling at 84.50 and 84.55, they said. In the fourth Asian trade euro hit a five-month low on dollar on Thursday, as its sell-off on chart triggers and fiscal worries extended, while the Australian dollar held its ground as Chinese growth quickened but the risk of tighter policy also grew.
China has hogged the limelight this week as fears that it will tighten credit and monetary policy drove investors to sell currencies leveraged to growth, like the Australian, New Zealand and Canadian dollars.
OPEN MARKET RATES: The rupee continued its fall, shedding five paisa at 85.55 and 85.65 for buying and selling, they added. The rupee, however, recovered 10 paisa more versus euro for buying and selling at Rs 119.95 and Rs 120.45, they said.
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Buying Rs 84.50
Selling Rs.84.55
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Open Buying Rs.85.55
Open Selling Rs.85.65
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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 9.50 12.00 9.55 12.20 10.81
1-Week 10.75 11.60 11.25 11.80 11.35
2-Week 11.25 11.75 11.60 11.90 11.63
1-Month 11.50 11.90 11.75 12.00 11.79
2-Months 11.60 11.90 11.90 12.00 11.85
3-Months 11.75 11.95 11.95 12.05 11.93
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 9.50 12.00 9.60 12.25 10.84
1-Week 11.00 11.90 11.50 12.10 11.63
2-Week 11.50 12.00 11.90 12.10 11.88
1-Month 11.65 12.10 12.00 12.20 11.99
2-Months 11.90 12.15 12.10 12.25 12.10
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 Pak rupee showed stability on buying side while it recovered its earlier loss by ten-paisa on selling side against the dollar in the kerb market on Thursday. According to the currency dealers, the dollar because of lacking buying support could not sustain and declined on the selling counter. The dollar, amid low trading activity, was closed at Rs 85.70 and Rs 86.00 as its buying and selling rates against the overnight closing of Rs 85.70 and Rs 86.10, respectively.
Similarly, the rupee maintained upward slide and further appreciated its value against the pound sterling. The pound was purchased and sold at Rs 137.30 and Rs 138.60, as compared to Wednesday closing of Rs 138.30 and Rs 139.20, 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 Thursday. The dollar opened at Rs 85.45 (buying) and Rs 85.55 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 85.45 (buying) and Rs 85.55 (selling).
Pound Sterling opened at Rs 138.00 (buying) and Rs 138.10 (selling) against the last rate. It did not observe further fluctuation in the last trading hours and closed at Rs 138.00 (buying) and Rs 138.10 (selling).
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