The rupee managed to recover sharply against dollar and euro on the currency market on Tuesday, experts said. The rupee gained 31 paisa for buying at 85.04 and picked up 32 paisa for selling at 85.08 due to easy supply of the US currency, they said.
INTERBANK MARKET RATES: In the second Asian trade euro struggled to make headway after its rally stalled just above $1.40 overnight, helping an oversold dollar to edge off four-month lows against a basket of major currencies. Analysts said the near-term outlook for the common currency, which has gained some four percent against dollar since mid-February, hinges on a summit of European Union leaders on Friday as euro zone countries work on measures they hope will resolve the region's debt crisis. Indian rupee was trading at Rs 45.05 versus dollar, Malaysian ringgit was available at 3.0320 in relation to the US currency and Chinese yuan was at 6.5671 in terms of the greenback.
OPEN MARKET RATES: Same pattern was seen on the open market as the rupee rose steeply in relation to dollar for buying and selling at 85.15 and 85.30, they added. The rupee also gained against euro, rising 78 paisa for buying and selling at Rs 118.26 and Rs 118.76, they said.
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Open Buying Rs 85.15
Open Selling Rs.85.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Buying Rs.85.04
Selling Rs.85.08
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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 12.50 13.25 12.60 13.50 12.96
1-Week 12.25 12.85 12.80 12.90 12.70
2-Week 12.25 12.90 12.90 13.00 12.76
1-Month 12.40 12.95 12.90 13.00 12.81
2-Months 12.50 13.15 13.15 13.25 13.01
3-Months 12.50 13.20 13.20 13.30 13.05
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
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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 12.50 13.40 12.70 13.60 13.05
1-Week 12.30 12.95 12.90 13.10 12.81
2-Week 12.40 13.00 13.00 13.15 12.89
1-Month 12.60 13.15 13.00 13.25 13.00
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
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RUPEE IN LAHORE: The Pak rupee maintained upward slide and further improved by 15-paisa on buying side and 10-paisa on selling side against the US dollar in the local currency market on Tuesday.
According to the currency dealers, the dollar remained under pressure and kept on moving down during the day.
At the end of trading, the dollar was closed at Rs 85.10 and Rs 85.40 as its buying and selling rates against the overnight closing of Rs 85.25 and Rs 85.50, respectively.
Similarly, the rupee continued to rise and further appreciated against the British pound. The pound was purchased and sold at Rs 137.00 and Rs 138.00 as compared to last day closing of Rs 138.30 and Rs 138.80, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar-rupee parity remained unchanged at the currency exchange establishments of Islamabad and Rawalpindi here on Tuesday.
The dollar resumed trading at Rs 85.95 (buying) and Rs 86.20 (selling) against the same 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 same previous rate. It did not witness any change in the evening session and closed at Rs 136.30 (buying) and Rs 136.75 (selling).
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