The rupee was higher against dollar, it, however, shed its value in relation euro on the currency market on Thursday, dealers said. The rupee maintained its upward trend against dollar gaining 10 paisa for buying and selling at 85.50 and 85.55, they said.
INTER-BANK MARKET RATES: In the fourth Asian trade euro hovered near a four-month high versus dollar on expectations the European Central Bank will move towards an eventual rate hike, though the currency faces a near-term risk of profit-taking. With many market players already counting on the central bank to send strong signals that it will raise rates to counter inflation, there is a risk the euro will slip after an ECB meeting on Thursday, some traders said.
The euro has rallied nearly three percent from a low hit on February 14, as investors expect ECB chief Jean-Claude Trichet to sharpen the central bank's anti-inflation rhetoric after its policy meeting as oil prices continue to soar. Some market players think the bank will stop providing unlimited three-month liquidity in the second quarter, switching the operations back to capped-limit, variable rate tenders -- a step forward in exiting from its easy policy to pave the way for a rate hike.
But others see the chance of the bank extending the measure in light of lingering worries about bank funding in some euro zone periphery countries -- an outcome that could set back market expectations of a rate hike by August. Indian rupee was available at Rs 44.94 versus dollar, Malaysian ringgit was available at 3.0307 in relation to the greenback and Chinese yuan was trading at 6.5688 in terms of the US currency.
OPEN MARKET RATES: The rupee posted fresh gain of five paisa in relation to the greenback at 85.40 and 85.60, they added. The rupee, however, fell in terms of euro, losing 45 paisa for buying and selling at Rs 117.95 and Rs 118.45, they said.
========================
Open Buying Rs 85.50
Open Selling Rs 85.55
========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
========================
Buying Rs 85.40
Selling Rs 85.60
========================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 12.25 13.25 12.50 13.40 12.85
1-Week 11.50 12.90 12.90 13.00 12.58
2-Week 11.60 12.90 12.90 13.00 12.60
1-Month 11.90 12.95 12.90 13.00 12.69
2-Months 12.35 13.15 13.15 13.25 12.98
3-Months 12.40 13.20 13.20 13.30 13.03
4-Months 13.00 13.30 13.25 13.35 13.23
5-Months 13.20 13.45 13.40 13.50 13.39
6-Months 13.35 13.50 13.45 13.55 13.46
9-Months 13.40 13.60 13.50 13.65 13.54
1-Year 13.45 13.60 13.55 13.65 13.56
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 12.25 13.20 12.50 13.40 12.84
1-Week 12.00 13.10 12.95 13.20 12.81
2-Week 12.40 13.10 13.00 13.20 12.93
1-Month 12.60 13.20 13.00 13.30 13.03
2-Months 12.90 13.40 13.30 13.50 13.28
3-Months 13.10 13.60 13.40 13.70 13.45
4-Months 13.25 13.65 13.45 13.75 13.53
5-Months 13.40 13.70 13.50 13.75 13.59
6-Months 13.50 13.75 13.70 13.90 13.71
9-Months 13.60 13.80 13.75 13.95 13.78
1-Year 13.50 13.90 13.80 14.00 13.80
=================================================================
RUPEE IN LAHORE: The Pak rupee showed stability and stayed unchanged against the greenback in the open currency market on Thursday.
According to the currency dealers, the dollar resumed trading at its overnight closing of Rs 85.50 and Rs 85.70 on the buying and selling sides, respectively. The dollar witnessed marginal fluctuation in its worth during the day but finally closed at the opening level, the dealers said.
However, the rupee failed to sustain and lost its value in relation to the British pound. The pound's buying and selling rates were increased from Wednesday closing of Rs 138.50 and Rs 139.00 to Rs 138.60 and Rs 139.30, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar-rupee parity remained unchanged at the currency exchange establishments of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 85.95 (buying) and Rs 86.20 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 85.95 (buying) and Rs 86.20 (selling).
Pound Sterling opened at Rs 136.30 (buying) and Rs 136.75 (selling) against the previous rate. It did not witness any change in the evening session and closed at Rs 136.30 (buying) and Rs 136.75 (selling).
Comments
Comments are closed.