The rupee commenced the week on a negative note on the currency market on Monday amid rising demand for dollars, dealers said. The rupee extended the weekend fall, losing another six paisa for buying and selling at 85.51 and 85.56, they said.
INTERBANK MARKET RATES: In the first Asian trade dollar rebounded from near-record lows against yen, boosted by hedge fund buying as the Bank of Japan's huge infusion into money markets helped ease nervousness triggered by the massive earthquake and tsunami in northeast Japan.
The plunge in the Nikkei share average also prompted a sell-off in currencies that thrive when there is increased risk appetite, such as the Australian and New Zealand dollars. The yen had advanced sharply on Friday on talk of repatriation flows as the disaster unfolded and was seen likely to extend gains especially if Japanese insurers try to raise funds by selling overseas holdings.
On Monday the country was battling to prevent a nuclear catastrophe and to care for millions of people without power and water. The greenback tumbled as low as 80.60 yen on electronic trading platform EBS, 1 yen away from a historic trough of 79.75 yen hit in 1995. But news of the BoJ's offer to inject a record $183 billion in to the money market helped the dollar pull away from the day's low.
Inter-bank buy/sell rates for taka against dollar on Monday : 71.72/71.79 (previous 71.71/71.72) Call Money Rates: 11.00-12.00 percent (previous 8.00-12.00 percent.
Indian rupee was at Rs 45.24 against dollar, Malaysian ringgit was available at 3.0405 in terms of the greenback and Chinese yuan was trading at 6.5697 versus dollar.
OPEN MARKET RATES: The rupee followed the same trend, dropping by 20 paisa against dollar for buying and selling at 85.50 and 85.65, they added. The rupee continued its weakness versus euro, shedding 64 paisa for buying and selling at Rs 118.81 and Rs 119.31, they said.
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Open Buying Rs 85.50
Open Selling Rs 85.65
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Buying Rs 85.51
Selling Rs 85.56
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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 12.75 13.75 13.00 13.80 13.33
1-Week 12.00 13.00 12.95 13.10 12.76
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 12.75 13.75 13.10 13.80 13.35
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 Pak rupee showed stability and remained unchanged against the dollar in the local currency market on Monday.
According to the currency dealers, the dollar resumed trading at its last week closing of Rs 85.35 and Rs 85.55, as its buying and selling rates, respectively. The dollar witnessed fractional change in its value during the day's trading but finally closed at the opening level, the dealers said.
However, the rupee recovered some of its earlier loss and appreciated its worth against the pound sterling. The pound's buying and selling rates were declined from last Saturday closing of Rs 137.40 and Rs 138.10 to Rs 137.10 and Rs 137.60 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 Monday.
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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