Rates changed marginally on the currency market on Thursday in process of trading, dealers said. The rupee recovered nine paisa against dollar for buying and selling at 85.38 and 85.43, they said.
INTERBANK MARKET RATES: In the fourth Asian trade yen soared to a record high of 76.25 against dollar, reaching levels that may force more market players to unwind positions and test the resolve of Japanese authorities threatening intervention to stem currency strength. A break through the previous record of 79.75 triggered a cascade of stop-loss and algorithmic selling of dollar, sending the yen surging in illiquid trade in the hours between the US and Asian trading days. Dollar/yen clawed back to near 77.50 on buying by Japanese importers and some retail margin traders, but the huge earlier drop to the record was seen prompting other investors to shed long positions in higher-yielding currencies, traders said.
Indian rupee was trading at Rs 45.11 versus dollar, Malaysian ringgit was available at 3.0620 in relation to the greenback and Chinese yuan at 6.5705 in terms of the US currency.
OPEN MARKET RATES: The rupee held it overnight level versus dollar for buying at 85.40 while it gained five paisa for selling and 85.55, they added. The rupee shed, in terms of euro, losing by 34 paisa for buying and selling at Rs 119.17 and Rs 119.67, they said.
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Open Buying Rs 85.38
Open Selling Rs 85.43
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Buying Rs 85.40
Selling Rs 85.55
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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 13.40 13.90 13.50 13.90 13.68
1-Week 12.00 13.10 13.10 13.20 12.85
2-Week 11.90 12.95 13.00 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 13.50 13.90 13.60 13.95 13.74
1-Week 12.10 13.15 13.15 13.25 12.91
2-Week 11.95 13.15 13.15 13.25 12.88
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 rupee failed to maintain rising trend and lost 10-paisa in relation to the greenback in the kerb market on Thursday.
According to the moneychangers, the dollar witnessed fresh demand that helped improve its worth in the open market. The dollar resumed trading at overnight closing of Rs 85.25 and Rs 85.50 as its buying and selling rates and finally ended higher at Rs 85.35 and Rs 85.60, respectively, the dealers said.
Similarly, the rupee continued to remain under pressure and declined against the British pound. The pound's buying and selling rates were further improved to Rs 137.10 and Rs 137.80 as compared to last day closing of Rs 136.60 and Rs 137.60, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 85.20 (buying) and Rs 85.30 (selling) against same last rate. It did not observe further fluctuation in the last trading hours and closed at Rs 85.20 (buying) and Rs 85.30 (selling).
Pound Sterling opened at Rs 136.40 (buying) and Rs 137.40 (selling) against same previous rate. It did not witness any change in the evening session and closed at Rs 136.40 (buying) and Rs 137.40 (selling).
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