Bears dominated the money market on Saturday as demand for dollars was higher during the business hours, dealers said. The rupee could not escape from recent weakness despite the high inflows of dollar, losing 18 paisa in terms of the greenback for buying and selling at 86.64 and 86.68, they said.
INTER-BANK MARKET RATES: The rupee lost 11 paisa versus the US currency for buying at 86.46 and shed 10 paisa for selling at 86.50, they said. At the weekend euro and dollar further notched gains against the Swiss franc, advancing more than seven percent the last two sessions as investors grew wary of potential Swiss National Bank action to slow the franc's rise.
The yen, meanwhile, hovered in a tight range near a record high versus dollar, as markets remained alert for possible Japanese intervention to halt its rally.
OPEN MARKET RATES: The rupee after maintaining stable trend the whole week, could not retain due to strong demand for dollar, losing 20 paisa for buying ant selling at 86.30 and 86.50, they added. The rupee also followed suit, falling 47 paisa in relation to the euro for buying and selling at Rs 122.97 and Rs 123.47, they said.
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Open Buying Rs 86.64
Open Selling Rs 86.68
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Buying Rs 86.30
Selling Rs 86.50
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Repo Rates (Yield p a)
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Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 13.40 13.40 13.40 13.40 13.40
1-Week 13.15 13.20 13.30 13.35 13.25
2-Week 13.15 13.20 13.25 13.30 13.23
1-Month 13.05 13.10 13.20 13.25 13.15
2-Months 12.95 13.00 13.15 13.25 13.09
3-Months 12.95 13.05 13.15 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 13.15 13.25 13.25 13.35 13.25
1-Year 13.20 13.30 13.30 13.40 13.30
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Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 13.40 13.40 13.40 13.40 13.40
1-Week 13.15 13.20 13.35 13.40 13.28
2-Week 13.15 13.20 13.30 13.35 13.25
1-Month 13.00 13.25 13.20 13.25 13.18
2-Months 12.95 13.05 13.20 13.30 13.13
3-Months 12.95 13.05 13.20 13.25 13.11
4-Months 13.00 13.15 13.20 13.25 13.15
5-Months 13.10 13.30 13.30 13.35 13.26
6-Months 13.00 13.20 13.25 13.35 13.20
9-Months 13.15 13.25 13.30 13.40 13.28
1-Year 13.20 13.30 13.35 13.45 13.33
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RUPEE IN LAHORE: The Pak rupee maintained downward slide for the third consecutive day and further declined by 25-piasa on buying side and 30-paisa on selling side in relation to the greenback in the local currency market on Saturday.
According to the currency dealers, the dollar's demand remained intact that kept the local currency under pressure. The dollar resumed trading on a positive sign and significantly improved to Rs 86.45 and Rs 86.70, as its buying and selling rates against the day earlier closing of Rs 86.20 and Rs 86.40, respectively, the dealers said.
Likewise, the rupee could not get out of pressure and further depreciated against the pound sterling. The pound was purchased and sold at Rs 140.70 and Rs 141.50, as compared to Friday closing of Rs 140.20 and Rs 141.00, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 86.00 (buying) and Rs 86.30 (selling) against the last rate. 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 138.50 (selling) against the overnight value. It did not observe further change in the evening session and closed at Rs 138.30 (buying) and Rs 138.50 (selling).
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