Rupee-dollar parity rates come down on the currency market on Friday owing to strong dollars' buying by importers to clear the overseas bills, dealers said. The rupee shed eight paisa versus dollar for buying at 86.53 and lost seven paisa for selling at 86.57, they said.
INTERBANK MARKET RATES: In the final Asian trade dollar came under broad pressure, sinking to a four-month low against yen while risk currencies faltered after the House of Representatives delayed a vote on a Republican proposal to raise the US government's debt limit, adding to uncertainty ahead of an August. 2 deadline.
The euro relinquished earlier gains and was down about 0.5 percent at a session low of $1.4265 after Moody's said it may cut Spain's credit rating, fuelling fears about the euro zone's debt problems and weighing further on the Australian and New Zealand dollars
Urgent efforts to avoid an unprecedented US debt default hit another snag when conservative rebel Republican lawmakers refused to back a budget deficit plan proposed by their own leaders, who put off a vote scheduled for Thursday night.
"People got scared and they're selling the dollar its fall below 77.00 yen would pave the way to the record low of 76.25, heightening the possibility of the Bank of Japan stepping in with solo intervention," said a trader for a Japanese bank who did not want to be identified by name. Indian rupee was trading at Rs 44.08 versus dollar, Malaysian ringgit was available at 2.9530 in terms of the greenback and Chinese yuan was at 6.4435 in relation to dollar.
OPEN MARKET RATES: The rupee did not show any change for buying at 86.15 while it rose by five paisa for selling at 86.30, they added. The rupee, however, gained 50 paisa in terms of euro for buying and selling at Rs 122.54 and Rs 123.04, they said.
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Open Buying Rs 86.53
Open Selling Rs 86.57
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Buying Rs 86.15
Selling Rs 86.30
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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 13.50 13.90 13.75 13.90 13.76
1-Week 13.25 13.70 13.65 13.75 13.59
2-Week 13.10 13.60 13.60 13.65 13.49
1-Month 13.15 13.50 13.50 13.55 13.43
2-Months 13.20 13.45 13.50 13.55 13.43
3-Months 13.15 13.45 13.45 13.50 13.39
4-Months 13.15 13.45 13.50 13.55 13.41
5-Months 13.20 13.50 13.50 13.60 13.45
6-Months 13.25 13.55 13.50 13.60 13.48
9-Months 13.30 13.65 13.65 13.75 13.59
1-Year 13.40 13.65 13.65 13.75 13.61
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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 13.80 13.90 13.78
1-Week 13.25 13.75 13.65 13.80 13.61
2-Week 13.20 13.65 13.65 13.70 13.55
1-Month 13.20 13.55 13.50 13.60 13.46
2-Months 13.25 13.50 13.50 13.60 13.46
3-Months 13.30 13.55 13.50 13.60 13.49
4-Months 13.30 13.50 13.50 13.65 13.49
5-Months 13.30 13.55 13.55 13.65 13.51
6-Months 13.30 13.60 13.50 13.65 13.51
9-Months 13.50 13.70 13.60 13.75 13.64
1-Year 13.50 13.75 13.60 13.90 13.69
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RUPEE IN LAHORE: The rupee gained 5 paisa against dollar at Lahore currency market on Friday.
According to dealers, the dollar commenced trading at overnight Rs 86.15 and Rs 86.35 as buying and selling rates, respectively, and declined to Rs 86.10 and Rs 86.30 on buying and selling sides, respectively.
However, the rupee declined on buying side while remaining unchanged on selling side in relation to pound sterling, wich was purchased and sold at Rs 140.00 and Rs 140.50 as compared to Rs 139.80 and Rs 140.50 respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against dollar at open currency markets of Islamabad and Rawalpindi on Friday.
The dollar opened at Rs 86.00 (buying) and Rs 86.30 (selling) against same last rates. It did not observe further change in the second session and closed at Rs 86.00 (buying) and Rs 86.30 (selling).
Pound sterling opened at Rs 138.30 (buying) and Rs 138.45 (selling) against same overnight values. It did not observe further change in the last trading hours and closed at Rs 138.30 (buying) and Rs 138.45 (selling).
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