Higher trend was seen on the local currency market on Wednesday as the rupee posted fresh gains against dollar due to easy supply of the US currency, dealers said. The rupee extended fresh gains in relation to dollar, gaining 10 paisa for buying and selling at 86.30 and 86.35, they said.
INTERBANK MARKET RATES: In the third Asian trade dollar edged up against Australian dollar on Wednesday but its bounce was limited after the US Federal Reserve vowed to keep rates near zero for two years, reaffirming the greenback's status as a funding currency of choice for carry trades.
The Fed's extraordinary pledge sparked a rebound in risky assets the previous day, boosting US equities and helping Australian dollar recoup some of its steep falls seen recently. Indian rupee was trading at Rs 45.21 versus dollar, a US dollar was available at Malaysian ringgit 3.0070 and Chinese yuan was at 6.4166 in relation to a greenback. Interbank buy/sell rates for taka against dollar on Wednesday: 74.74/74.75 (previous 74.73/74.75). Call Money Rates: 7.50-10.00 percent (previous 6.50-10.50 percent).
OPEN MARKET RATES: The rupee appreciated by 10 paisa versus dollar for buying and selling at 86.05 and 86.25, they added. The rupee, however, lost 87 paisa in relation to euro for buying and selling at Rs 123.40 and Rs 123.90, they said.
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Open Buying Rs 86.05
Open Selling Rs 86.25
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Buying Rs 86.30
Selling Rs.86.35
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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 10.60 11.00 10.65 11.25 10.88
1-Week 12.25 12.60 12.50 12.75 12.53
2-Week 12.50 12.70 12.70 12.80 12.68
1-Month 12.80 13.00 13.00 13.10 12.98
2-Months 12.90 13.00 13.10 13.15 13.04
3-Months 12.95 13.10 13.10 13.20 13.09
4-Months 13.00 13.15 13.15 13.20 13.13
5-Months 13.00 13.20 13.20 13.30 13.18
6-Months 13.00 13.20 13.20 13.30 13.18
9-Months 13.10 13.25 13.25 13.35 13.24
1-Year 13.15 13.30 13.30 13.40 13.29
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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 10.60 11.00 10.70 11.25 10.89
1-Week 12.40 12.70 12.60 12.80 12.63
2-Week 12.50 12.70 12.75 12.85 12.70
1-Month 12.75 13.05 13.10 13.15 13.01
2-Months 12.90 13.25 13.20 13.30 13.16
3-Months 13.05 13.25 13.20 13.30 13.20
4-Months 13.10 13.30 13.25 13.35 13.25
5-Months 13.10 13.30 13.30 13.35 13.26
6-Months 13.15 13.35 13.30 13.40 13.30
9-Months 13.15 13.35 13.35 13.40 13.31
1-Year 13.15 13.40 13.40 13.50 13.36
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RUPEE IN LAHORE: The rupee lost five paisa against dollar in Lahore currency market on Wednesday. According to dealers, the dollar commenced trading at its overnight closing of Rs 86.00 and Rs 86.20 as buying and selling rates. As a result of slight increase in the dollar's demand, its rate marginally moved up to Rs 86.05 and Rs 86.25, respectively.
The rupee appreciated its worth against pound sterling, which was purchased and sold at Rs 140.20 and Rs 141.00 as compared to overnight Rs 140.70 and Rs 141.50 respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the currency markets of Islamabad and Rawalpindi on Wednesday.
The dollar opened at Rs 86.00 (buying) and Rs 86.35 (selling) against same last rates. It did not observe further change in the second session and closed at Rs 86.00 (buying) and Rs 86.35 (selling).
Pound sterling opened at Rs 138.35 (buying) and Rs 138.50 (selling) against same overnight values. It did not observe further change in the evening session and closed at Rs 138.35 (buying) and Rs 138.50 (selling).
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