Pressure buying of dollars forced the rupee to surrender its gains versus the US currency and euro on the money market on Tuesday, dealers said. The rupee fell sharply against dollar, losing 27 paisa for buying at 85.78 and it also shed 26 paisa for selling at 85.82, they said.
INTERBANK MARKET RATES: In the second Asian trade euro dipped as uncertainty grew over whether officials will agree to beef up a euro zone safety fund this week, putting the currency on shaky ground again. With a lot of short positions having been wiped out after last week's rally and repeated failure at the highs near $1.3500, markets appeared ready to put on fresh bets against the single currency.
The euro faced renewed selling after euro zone finance ministers made no firm decisions on Monday regarding possible additional measures to quell a sovereign debt crisis that has forced Greece and Ireland to take bailouts put nations such as Portugal and Spain under heavy pressure.
Indian rupee was available at Rs 45.52 versus dollar, Malaysian ringgit was at 3.0575 against the US currency and Chinese Yuan was trading at 6.590 in terms of the greenback.
OPEN MARKET RATES: The rupee followed the same print as it fell by 20 paisa against dollar for buying at 86.15 and it also shed 15 paisa for selling at 86.30, they added. The rupee gave up its overnight gains in terms of euro, shedding Rs 1.15 for buying and selling at Rs 114.60 and Rs 115.10, they said.
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Open Buying Rs 85.78
Open Selling Rs 85.82
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Buying Rs 86.15
Selling Rs 86.30
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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 12.25 13.25 12.60 13.30 12.85
1-Week 11.55 12.90 12.85 12.95 12.56
2-Week 11.65 12.90 12.90 13.00 12.61
1-Month 11.90 12.95 12.90 13.00 12.69
2-Months 12.40 13.10 13.00 13.20 12.93
3-Months 12.80 13.15 13.15 13.30 13.10
4-Months 12.90 13.20 13.20 13.30 13.15
5-Months 13.00 13.25 13.25 13.40 13.23
6-Months 13.25 13.45 13.30 13.50 13.38
9-Months 13.25 13.60 13.60 13.75 13.55
1-Year 13.35 13.65 13.70 13.80 13.63
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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 12.30 13.25 12.60 13.30 12.86
1-Week 12.25 13.10 12.95 13.20 12.88
2-Week 12.35 13.15 13.00 13.25 12.94
1-Month 12.40 13.20 12.95 13.25 12.95
2-Months 12.75 13.25 13.25 13.40 13.16
3-Months 12.90 13.40 13.25 13.50 13.26
4-Months 12.90 13.50 13.30 13.60 13.33
5-Months 13.00 13.50 13.40 13.75 13.41
6-Months 13.30 13.70 13.65 13.90 13.64
9-Months 13.30 13.75 13.70 13.90 13.66
1-Year 13.40 13.80 13.75 13.90 13.71
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RUPEE IN LAHORE: The rupee remained under pressure and lost 10-paisa in relation to the greenback in the local currency market on Tuesday.
According to the currency dealers, the dollar showed strength and recovered its earlier loss on account of increasing demand. The dollar was purchased and sold at Rs 86.20 and Rs 86.40, as compared to overnight closing of Rs 86.10 and Rs 86.30, respectively, they added.
The pound sterling maintained upward trend and appreciated its worth in the local market. The pound was purchased and sold at Rs 136.50 and Rs 137.50, as compared to overnight closing of Rs 135.50 and Rs 136.00, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the currency markets of Islamabad and Rawalpindi on Tuesday.
The dollar resumed trading at Rs 85.60 (buying) and Rs 85.80 (selling) against last rate of Rs 86.20 (buying) and Rs 86.30 (selling). It did not observe further change in the evening session and closed at Rs 85.60 (buying) and Rs 85.80 (selling).
Pound sterling opened at Rs 136.30 (buying) and Rs 136.70 (selling) in the morning session. It did not observe further change in the last trading hours and closed at Rs 136.30 (buying) and Rs 136.70 (selling).
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