Declining trend was seen on local currency market on Tuesday as importers increased purchasing US currency to meet the immediate needs, experts said. On the interbank market the rupee shed 11 paisa against dollar for buying at 84.14 and dropped by 12 paisa for selling at 84.18, they said.
In the beginning of the fourth quarter of the current fiscal year dollar has started showing its strength and it looks that as a result of higher payments for rising oil prices in the globe, may cause outflows of foreign exchange from the country, money experts said. In the second Asian trade yen slipped against other major currencies as a sell-off in growth-linked currencies waned and the Aussie firmed after upbeat central bank minutes reinforced expectations for more interest rate rises.
The yuan edged up against dollar in the offshore forward and onshore spot markets late on Tuesday while investors awaited possible Chinese currency policy changes as a US lawmaker renewed calls for a stronger yuan.
The rupee rose to 44.51 per dollar from the day's opening at 44.58 after the Reserve Bank of India (RBI) raised key interest rates by 25 basis points in line with market expectations. The Bangladesh interbank buying and selling rates for taka against dollar at 69.2500 and 69.2525 (previous 69.2500/69.2550).
OPEN MARKET RATES: The rupee continued its slide against dollar, shedding five paisa for buying and selling at 84.15 and 84.30, dealers said. The rupee also fell in terms of euro, coming down by 45 paisa buying and selling at Rs 112.70 and Rs 113.20, they added.
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Open Buying Rs 84.15
Open Selling Rs 84.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Buying Rs.84.14
Selling Rs.84.18
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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 11.90 12.25 12.00 12.30 12.11
1-Week 11.40 12.05 12.00 12.10 11.89
2-Week 11.45 12.05 12.05 12.10 11.91
1-Month 11.50 12.05 12.10 12.15 11.95
2-Months 11.70 12.05 12.10 12.15 12.00
3-Months 11.80 12.05 12.05 12.10 12.00
4-Months 11.85 12.05 12.10 12.15 12.04
5-Months 11.85 12.10 12.10 12.15 12.05
6-Months 11.85 12.10 12.05 12.15 12.04
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 11.90 12.25 12.00 12.30 12.11
1-Week 11.60 12.05 12.00 12.10 11.94
2-Week 11.75 12.10 12.10 12.20 12.04
1-Month 11.80 12.15 12.10 12.20 12.06
2-Months 11.90 12.15 12.10 12.20 12.09
3-Months 12.00 12.15 12.15 12.20 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 maintained its position and remained unchanged amid low trading activity in the kerb market on Tuesday.
According to the moneychangers, the dollar's demand and supply remained intact that help rupee stability in the open market. The dollar was traded at its Monday closing of Rs 84.10 and Rs 84.25, as its buying and selling rates, respectively.
On the contrary, the rupee failed to continue rising trend and depreciated its worth against the pound sterling. The pound was purchased and sold at Rs 128.60 and Rs 129.00, as compared to previous closing of Rs 127.50 and Rs 128.30, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar surged by 20 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 83.90 (buying) and Rs 84.10 (selling) against the rate of Rs 83.70 (buying) and Rs 83.90 (selling). It did not observe further change in the evening session and closed at Rs 83.90 (buying) and Rs 84.10 (selling).
Pound Sterling opened at Rs 127.70 (buying) and Rs 128.70 (selling) against the previous rate. It did not observe further change in the second session and closed at Rs 127.70 (buying) and Rs 128.70 (selling).
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