The rupee extended its slide against dollar on the local currency market on Monday as importers were busy in forward buying of the greenback, dealers said. On the interbank market the rupee lost 10 paisa in relation to dollar for buying at 85.75 and it fell by nine paisa at 85.79 for selling, they said.
Dollar demand increased and it is most likely that the national currency may touch the low at 86 in the near future, they added. In the beginning session of the Asian trade yen eased after election results showed political uncertainty ahead for Japan, but the move was seen likely to be short-lived with attention turning to the US earnings season as a gauge of risk appetite.
Japan's ruling coalition, led by Prime Minister Naoto Kan's Democratic Party of Japan, lost its upper house majority in Sunday's election, putting Kan's policies to deal with the country's massive debt at risk. Indian rupee was trading at Rs 46.66 versus dollar, Malaysian ringgit was available at 3.1970 in terms of the US currency and Chinese yuan was trading at 6.7718 in relation to the greenback.
OPEN MARKET RATES: The rupee failed to come out of bottom, shedding five paisa against dollar for buying at 85.70 and it lost 10 paisa for selling at 85.90, dealers said. The rupee, however, gained 35 paisa versus euro for buying and selling at Rs 107.25 and Rs 107.75, they added.
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Open Buying Rs 85.70
Open Selling Rs.85.90
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Buying Rs.85.75
Selling Rs.85.79
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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 11.75 12.40 12.00 12.40 12.14
1-Week 11.00 11.80 11.70 12.00 11.63
2-Week 11.10 11.90 11.80 12.05 11.71
1-Month 11.25 12.00 11.90 12.10 11.81
2-Months 11.45 12.05 11.95 12.10 11.89
3-Months 11.75 12.10 12.10 12.15 12.03
4-Months 11.75 12.10 12.10 12.20 12.04
5-Months 11.75 12.15 12.10 12.25 12.06
6-Months 11.95 12.15 12.10 12.25 12.11
9-Months 11.90 12.15 12.10 12.25 12.10
1-Year 12.00 12.20 12.10 12.30 12.15
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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 11.25 12.00 11.90 12.10 11.81
2-Week 11.50 12.10 11.90 12.15 11.91
1-Month 11.75 12.10 12.00 12.20 12.01
2-Months 11.90 12.15 12.05 12.25 12.09
3-Months 11.90 12.25 12.10 12.30 12.14
4-Months 12.00 12.25 12.15 12.30 12.18
5-Months 12.00 12.25 12.15 12.30 12.18
6-Months 12.00 12.30 12.15 12.35 12.20
9-Months 12.10 12.30 12.20 12.40 12.25
1-Year 12.15 12.30 12.25 12.40 12.28
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RUPEE IN LAHORE: The rupee lost five paisa on buying side while it appreciated ten-paisa on selling side in relation to the greenback in the local currency market on Monday.
According to the currency dealers, the dollar resumed trading at its last Friday closing of Rs 85.65 and Rs 86.00 on buying and selling sides, respectively. At the end of trading, the dollar was closed at Rs 85.70 and Rs 85.90 as its buying and selling rates respectively, the dealers said.
However, the rupee showed strength and improved its value against the pound sterling. The pound was purchased and sold at Rs 128.00 and Rs 129.00 as compared to last week closing of Rs 129.00 and Rs 129.60, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remains firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 85.40 (buying) and 85.90 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 85.40 (buying) and Rs 85.90 (selling).
Pound Sterling opened at Rs 127.86 (buying) and Rs 129.33 (selling) against same previous rate. It did not observe further change in the last trading hours and closed at Rs 127.86 (buying) and Rs 129.33 (selling).
UAE Dirham opened at Rs 23.18 (buying) and Rs 23.35 (selling) in the morning session against the last same rate. The value of Dirham against the rupee remained unchanged in evening session and closed at Rs 23.18 (buying) and Rs 23.35 (selling).
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