Rising demand for dollars pushed the rupee value down versus the greenback on the currency market on Saturday, experts said. The rupee drifted lower in relation to the US currency, falling 17 paisa for buying at 85.45 and lost 18 paisa for selling at 85.50, they said.
INTERBANK MARKET RATES: At the weekend yen soared after the worst earthquake on record to hit Japan spurred a safety bid, and it could rise further next week if insurers scramble to raise cash by selling their foreign assets. The yen initially fell to a two-week low against dollar but then shot higher as the full extent of the devastation became clear. The quake triggered a ferocious tsunami, killing at least 1,000 people. Worries about the impact on a fragile Japanese economy prompted investors to cut exposure to risk, traders said, with Japanese investors who had used cheaply borrowed yen to invest abroad bringing the money back home.
The dollar fell 1.2 percent to 81.87 yen, its biggest one-day decline since December 3, while yen also rallied against euro, pound and Swiss franc.
OPEN MARKET RATES: The rupee could not maintain its firmness against dollar, losing 10 paisa for buying at 85.30 and shed five paisa for selling at 85.45, they added. The rupee followed the same path versus euro, shedding Rs 1.18 for buying and selling at Rs 118.17 Rs 118.67, they said.
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Open Buying Rs 85.30
Open Selling Rs.85.45
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Saturday.
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Buying Rs.85.45
Selling Rs.85.50
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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 13.00 13.90 13.25 13.90 13.51
1-Week 12.00 13.00 12.95 13.15 12.78
2-Week 11.90 13.00 12.95 13.10 12.74
1-Month 12.00 12.95 12.95 13.05 12.74
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 13.00 13.90 13.25 13.90 13.51
1-Week 12.10 13.10 13.15 13.25 12.90
2-Week 11.95 13.15 13.10 13.25 12.86
1-Month 12.70 13.25 13.10 13.30 13.09
2-Months 13.00 13.40 13.30 13.50 13.30
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 dollar-rupee parity remained unchanged in the local currency markets on Saturday.
According to the moneychangers, the dollar resumed trading at Rs 85.35 (buying) and Rs 85.55 (selling) against the overnight rate. In the absence of buying activity, the dollar did not observe further change in the evening session and closed at Rs 85.35 and Rs 85.55 on buying and selling counters, respectively.
On the other hand, the Pak rupee showed weakness against the Pound Sterling. The British Pound was purchased and sold at Rs 137.40 and Rs 138.10, as compared to overnight closing rates of Rs 137.00 and Rs 138.00, the moneychangers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar-rupee parity remained unchanged at the currency exchange establishments of Islamabad and Rawalpindi here on Saturday.
The dollar resumed trading at Rs 85.95 (buying) and Rs 86.20 (selling) against 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 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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