The rupee failed to retain its firmness against dollar on the local currency market on Saturday, experts said. On the interbank market the rupee was sharply down by 18 paisa against the dollar for buying and selling at 84.35 and 84.40, they said.
Importers' dollar buying pushed the local currency down and it seems that at the end of third quarter of fiscal year, the rupee face some setback in the coming days, they said. At the week-end in New York euro fell over doubts Greece would win euro-zone aid, capping its worst week since January, and concerns about the UK economy hit sterling.
A report on Thursday that Greece saw limited prospects for euro-zone assistance raised concerns about the country's ability to service its debt. On Friday euro fell as far as $1.3502, its lowest level in more than two weeks. It was down 1.7 percent this week, its worst showing since late January.
OPEN MARKET RATES: The rupee drifted lower in relation to the dollar due to strong demand, the domestic currency shed 15 paisa for buying at 84.45 and lost 10 paisa for selling at 84.60, dealers said. The rupee, however, gained against euro 20 paisa for buying and selling at Rs 114.00 and Rs 114.50, they added.
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Buying Rs 84.35
Selling Rs 84.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Saturday.
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Open Buying Rs 84.45
Open Selling Rs 84.60
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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 12.00 12.40 12.10 12.40 12.23
1-Week 11.60 12.15 12.10 12.20 12.01
2-Week 11.65 12.10 12.10 12.20 12.01
1-Month 11.70 12.15 12.10 12.20 12.04
2-Months 11.75 12.10 12.10 12.15 12.03
3-Months 11.80 12.10 12.10 12.15 12.04
4-Months 11.85 12.15 12.15 12.20 12.09
5-Months 11.90 12.15 12.15 12.20 12.10
6-Months 11.90 12.15 12.15 12.20 12.10
9-Months 11.95 12.15 12.15 12.20 12.11
1-Year 12.00 12.20 12.20 12.25 12.16
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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 12.00 12.40 12.10 12.40 12.23
1-Week 11.70 12.15 12.10 12.20 12.04
2-Week 11.80 12.15 12.10 12.20 12.06
1-Month 11.90 12.15 12.10 12.20 12.09
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 12.15 12.30 12.18
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 Pak rupee failed to maintain its position and registered loss of 25-paisa on buying side and 15-paisa on selling side in relation to the greenback in the local currency market on Saturday.
According to the currency dealers, the dollar witnessed an increase in its demand that kept the local currency under pressure. The dollar was slide up and finally closed at Rs 84.55 and Rs 84.75 against the overnight closing of Rs 84.30 and Rs 84.60, respectively.
On the contrary, the rupee continued rising trend and further appreciated its value against the pound sterling. The pound was purchased and sold at Rs 127.20 and Rs 128.00, as compared to Friday closing of Rs 127.50 and Rs 128.50, respectively, the dealers said.
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