The rupee managed to gain sharply against dollar, it, however, failed to retain its gains versus euro on the local currency market on Wednesday, exports said. On the interbank market the rupee recovered eight paisa at 85.00 versus dollar for buying and gained seven paisa for selling at 85.05, dealers said.
During the Asian trade dollar fell to its lowest in more than two months against yen as investors dumped long positions against other currencies that had built up to levels not seen in more than a year.
Investors have been picking up dollars in recent months as Greece's credit and fiscal woes hit the euro and worries over a potential hung parliament and speculation that Britain's asset-buying scheme could be revived knocked the pound lower.
OPEN MARKET RATES: The rupee was higher by 20 paisa in terms of the US currency for buying and selling at 85.20 and 85.40, dealers said.
The rupee gave up firmness against euro, losing 50 paisa for buying and selling at 114.85 and Rs 115.35, they added.
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Buying Rs 85.00
Selling Rs.85.05
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Open Buying Rs.85.20
Open Selling Rs.85.40
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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 10.25 11.90 10.75 12.00 11.23
1-Week 11.20 11.75 11.60 11.90 11.61
2-Week 11.45 11.90 11.80 12.00 11.79
1-Month 11.50 11.95 12.00 12.10 11.89
2-Months 11.65 12.00 12.05 12.10 11.95
3-Months 11.80 12.10 12.10 12.15 12.04
4-Months 11.80 12.10 12.10 12.15 12.04
5-Months 11.85 12.10 12.10 12.20 12.06
6-Months 11.85 12.10 12.10 12.20 12.06
9-Months 11.85 12.10 12.10 12.20 12.06
1-Year 11.95 12.10 12.10 12.20 12.09
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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 10.50 11.90 11.00 12.00 11.35
1-Week 11.40 12.00 11.90 12.10 11.85
2-Week 11.50 12.00 11.90 12.10 11.88
1-Month 11.60 12.10 12.00 12.15 11.96
2-Months 11.90 12.15 12.15 12.20 12.10
3-Months 11.90 12.20 12.15 12.25 12.13
4-Months 12.00 12.20 12.15 12.25 12.15
5-Months 12.00 12.25 12.10 12.30 12.16
6-Months 12.00 12.25 12.15 12.30 12.18
9-Months 12.10 12.25 12.20 12.30 12.21
1-Year 12.15 12.30 12.25 12.40 12.28
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RUPEE IN LAHORE: The rupee gained 10 paisa in relation to dollar at Lahore currency market on Wednesday.
According to dealers, the dollar declined to Rs 85.00 and Rs 85.40 against overnight Rs 85.10 and Rs 85.50 on buying and selling sides, respectively.
However, the rupee remained unchanged against pound sterling. The pound was purchased and sold at Monday's Rs 127.00 and Rs 129.00 on buying and selling counters, respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 85.25 (buying) and Rs 85.35 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 85.25 (buying) and Rs 85.35 (selling).
Pound Sterling opened at Rs 130 (buying) and Rs 131 (selling) against last rate of Rs 129 (buying) and Rs 130 (selling). It did not observe further change in the second session and closed at Rs 130 (buying) and Rs 131 (selling).
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