Bearish sentiment was again witnessed on the money market at the weekend as the rupee drifted lower versus dollar in process of trading, dealers said. The rupee extended its slide versus dollar, losing 10 paisa for buying and selling at 85.20 and 85.25, they added. Strong importers' demand for dollars, made the rupee unable to retain its firmness versus the greenback
INTERBANK MARKET RATES: At the weekend, the US dollar rose to a five-week high against major currencies as renewed worries about possible euro zone sovereign debt restructuring continued to drive a broad pullback from risky trades in commodities, stocks, and high-yielding currencies.
The euro fell against most currencies, dropping to a six-week lows against dollar and yen on renewed concerns Greece may restructure its debt. European Central bank President Jean-Claude Trichet also contributed to euro fall as he dampened expectations about a interest rate rises in the euro zone by saying that inflation was at it's peak.
OPEN MARKET RATES: The rupee shed five paisa in relation to dollar for buying at 85.15 while it retained its overnight level for selling at 85.30, they added. The rupee recovered its losses in relation to euro, gaining Rs 1.81 for buying and selling at Rs 119.69 and Rs 120.19, 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 Saturday.
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Buying Rs.85.20
Selling Rs.85.25
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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 13.75 13.50 13.90 13.54
1-Week 11.50 12.75 12.80 12.90 12.49
2-Week 11.70 12.75 12.85 12.90 12.55
1-Month 11.75 12.85 12.85 12.95 12.60
2-Months 12.40 13.00 12.90 13.10 12.85
3-Months 12.75 13.05 13.00 13.15 12.99
4-Months 12.90 13.10 13.10 13.20 13.08
5-Months 13.00 13.35 13.25 13.40 13.25
6-Months 13.20 13.35 13.30 13.40 13.31
9-Months 13.25 13.50 13.50 13.60 13.46
1-Year 13.40 13.60 13.50 13.65 13.54
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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 13.75 13.50 13.90 13.54
1-Week 11.75 12.80 12.85 12.95 12.59
2-Week 12.00 12.90 12.90 13.00 12.70
1-Month 12.40 13.00 12.90 13.10 12.85
2-Months 12.90 13.10 13.10 13.20 13.08
3-Months 13.10 13.25 13.20 13.35 13.23
4-Months 13.10 13.35 13.25 13.45 13.29
5-Months 13.25 13.45 13.35 13.55 13.40
6-Months 13.30 13.50 13.40 13.60 13.45
9-Months 13.50 13.65 13.60 13.70 13.61
1-Year 13.50 13.75 13.60 13.85 13.68
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RUPEE IN LAHORE: The greenback remained firm and further appreciated its worth by 15-paisa on buying side (Rs 85.25) and 20-paisa on selling side (Rs 85.40) in relation to the Pak rupee at the open currency markets of Lahore on Saturday.
The dollar resumed trading at Rs 85.20 (buying) and Rs 85.30 (selling) against the rate of Rs 85.10 and Rs 85.20. In the wake of fresh buying activity for the dollar, its rate further moved up and it was closed at Rs 85.25 and Rs 85.40 on buying and selling counters, respectively.
On the other hand, Pak rupee recovered its earlier loss against the British pound. Pound Sterling was purchased and sold at Rs 138.80 and Rs 139.20, as against Rs 138.90 and Rs 139.40 on Friday.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained unchanged against the rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar resumed trading at Rs 84.40 (buying) and Rs 85.00 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 84.40 (buying) and Rs 85.00 (selling).
Pound Sterling opened at Rs 136.50 (buying) and Rs 137.50 (selling) against the previous rate. It did not witness any change in the evening session and closed at Rs 136.50 (buying) and Rs 137.50 (selling).
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