Slight recovery was seen in the value of the rupee against dollar on the currency market on Wednesday, dealers said. On the interbank market, the rupee posted a gain of 13 paisa in relation to dollar for buying at 85.65 and 12 paisa for selling at 85.70, marketmen said.
They said that supply of dollars had eased, which helped the rupee to recover its lost ground in terms of the greenback. In the third Asian trade, the dollar hit an eight-month trough against yen, crawling towards its lowest level since 1995, as weak US data and talk of the Federal Reserve embarking on further policy easing pushed down Treasury yields.
The dollar fell as far as 85.32 yen, its lowest since late November, and was trading at 85.40, down 0.4 percent on the day. A fall below a November low of 84.82 yen would take the pair to its lowest level in 15 years. Indian rupee was trading at Rs 46.16, Malaysian ringgit was available at 3.1655 and Chinese yuan was trading at 6.773 versus the dollar.
OPEN MARKET RATES: The rupee was up by five paisa against dollar for buying at 85.75 while it retained its week-end level for selling at 85.90, dealers said. The rupee lost Re one versus euro for buying and selling at Rs 112.30 and Rs 112.80, they added.
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Buying Rs 85.65
Selling Rs.85.70
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Open Buying Rs.85.75
Open Selling Rs.85.90
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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 12.80 11.75 12.90 12.24
1-Week 11.50 12.40 12.25 12.50 12.16
2-Week 11.60 12.30 12.25 12.40 12.14
1-Month 11.70 12.30 12.30 12.50 12.20
2-Months 11.85 12.40 12.30 12.50 12.26
3-Months 11.95 12.40 12.35 12.50 12.30
4-Months 12.00 12.45 12.40 12.50 12.34
5-Months 12.10 12.45 12.40 12.60 12.39
6-Months 12.10 12.50 12.45 12.60 12.41
9-Months 12.20 12.50 12.45 12.60 12.44
1-Year 12.25 12.60 12.50 12.70 12.51
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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 12.90 11.75 12.95 12.28
1-Week 12.10 12.60 12.25 12.70 12.41
2-Week 12.10 12.50 12.40 12.60 12.40
1-Month 12.20 12.40 12.40 12.60 12.40
2-Months 12.25 12.60 12.50 12.70 12.51
3-Months 12.30 12.70 12.60 12.80 12.60
4-Months 12.30 12.75 12.60 12.80 12.61
5-Months 12.35 12.80 12.70 12.90 12.69
6-Months 12.40 12.80 12.75 13.00 12.74
9-Months 12.50 12.90 12.75 13.00 12.79
1-Year 12.60 13.00 12.80 13.25 12.91
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RUPEE IN LAHORE: The rupee improved by five paisa against dollar in Lahore currency market on Wednesday.
According to dealers, the dollar declined to Rs 85.65 and Rs 85.80 as its buying and selling rates against overnight closing of Rs 85.70 and Rs 85.85, respectively.
However, the rupee-pound parity remained unchanged amid low trading. The pound was traded at Tuesday's rates of Rs 135.20 and Rs 135.80 on buying and selling sides, respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against dollar at the currency markets of Islamabad and Rawalpindi on Wednesday.
The dollar opened at Rs 85.50 (buying) and 86.00 (selling) against the same last rates Rs 85.50 (buying) and 86.00 (selling). It did not observe further change and closed at Rs 85.50(buying) and Rs 86.00 (selling).
Pound sterling opened at Rs 134.08 (buying) and Rs 136.51 (selling) against the same previous rates Rs 134.43(buying) and Rs 136.86 (selling). It did not observe further change and closed at Rs 134.08 (buying) and Rs 136.51 (selling).
UAE dirham opened at Rs 23.18 (buying) and Rs 23.37 (selling) against the same last rates Rs 23.20 (buying) and Rs 23.39 (selling), and remained unchanged.
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