Rupee's firmness proved short lived as it gave up its gains versus dollar due to increased US currency buying by the importers to clear the oil payments, experts said. On the interbank market the rupee lost 12 paisa versus the greenback for buying and selling at 83.90 and 83.95, they said. At the weekend in the NY market euro gained after euro-zone leaders agreed on a financial safety net for Greece, but uncertainties remained over the country's ability to repay debt.
Euro-zone policy-makers agreed on an aid package under which Greece would receive both bilateral loans from euro-zone partners and funding from the International Monetary Fund if it faced severe difficulties. The plan did not alleviate longer-term worries about Greece and other fiscally vulnerable economies in the region, such as Portugal and Spain. That curbed euro gains.
OPEN MARKET RATES: The rupee moved both ways against dollar as it gained five paisa for buying at 84.20, it, however, dropped the same amount at 84.40, dealers said. The rupee failed to retain its gains against euro as the single European currency managed to gain modestly in the globe, they added.
The rupee shed 35 paisa in relation to the euro for buying and selling at Rs 112.70 and Rs 113.20, they added.
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Buying Rs 83.90
Selling Rs.83.95
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Saturday.
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Open Buying Rs.84.20
Open Selling Rs.84.40
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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 11.50 12.15 11.65 12.25 11.89
1-Week 11.40 12.10 11.90 12.12 11.88
2-Week 11.50 12.05 12.00 12.10 11.91
1-Month 11.60 12.05 12.00 12.10 11.94
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 11.85 12.15 12.15 12.20 12.09
6-Months 11.85 12.15 12.15 12.20 12.09
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 11.50 12.20 11.65 11.25 11.65
1-Week 11.70 12.10 12.00 12.20 12.00
2-Week 11.80 12.10 12.10 12.15 12.04
1-Month 11.90 12.15 12.10 12.20 12.09
2-Months 12.00 12.15 12.15 12.25 12.14
3-Months 12.00 12.20 12.15 12.25 12.15
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 stayed unchanged on buying side while it depreciated its value by 10-paisa on selling side in relation to the greenback in the local currency market on Saturday.
According to the currency dealers, the dollar's supply remained intact that helped rupee stability on buying side at Rs 84.35. However, because of increase in dollar's demand, its selling rate was improved from overnight closing of Rs 84.50 to Rs 84.60, the dealers said.
However, the rupee remained depressed and lost its value against the pound sterling. The pound was purchased and sold at Rs 125.50 and Rs 126.50 as compared to Friday closing of Rs 125.30 and Rs 125.70, respectively, the dealer said.
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