The rupee managed to make some gains against dollar on the currency market on Tuesday, dealers said. The rupee's sharp decline proved short lived as it recovered 14 paisa for buying at 86.91 and gained 12 paisa for selling at 86.96, they said.
INTERBANK MARKET RATES: In the second Asian trade euro edged higher but could come under pressure if euro zone manufacturing data point to more downside risk in a market already fretting about a global recession. The Australian dollar clawed higher after a gauge of Chinese manufacturing was not as weak as some had feared, and was last up 0.6 percent on the day at $1.0460.
HSBC's China Flash Purchasing Managers' Index showed the Chinese factory sector may have slowed slightly in August for a second straight month. The reading, however, still edged up to 49.8 in August, better than July's final reading. There had been vague market rumours earlier that the China flash PMI might turn out to be much weaker.
The dollar was available for the Indian rupee at Rs 45.66, the US currency was trading at 2.9725 versus the Malaysian ringgit and the greenback was at 6.3954 in terms of the Chinese yuan.
OPEN MARKET RATES: The rupee retained overnight level versus dollar for buying and selling at 86.50 and 86.70, they added. The rupee extended its fall in relation to euro, losing 56 paisa for buying and selling at Rs 124.90 and Rs 125.40, they said.
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Open Buying Rs 86.50
Open Selling Rs 86.70
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Buying Rs 86.91
Selling Rs.86.96
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Repo Rates (Yield p a)
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Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 13.00 13.40 13.20 13.40 13.25
1-Week 13.00 13.20 13.20 13.35 13.19
2-Week 13.00 13.15 13.20 13.30 13.16
1-Month 13.00 13.10 13.20 13.30 13.15
2-Months 13.00 13.10 13.20 13.30 13.15
3-Months 13.00 13.15 13.25 13.30 13.18
4-Months 13.00 13.20 13.25 13.30 13.19
5-Months 13.00 13.20 13.25 13.30 13.19
6-Months 13.05 13.20 13.25 13.30 13.20
9-Months 13.15 13.25 13.35 13.40 13.29
1-Year 13.20 13.30 13.35 13.40 13.31
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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 13.40 13.20 13.40 13.25
1-Week 13.00 13.20 13.25 13.40 13.21
2-Week 13.00 13.20 13.25 13.35 13.20
1-Month 13.10 13.15 13.30 13.35 13.23
2-Months 13.05 13.15 13.30 13.35 13.21
3-Months 13.05 13.15 13.30 13.35 13.21
4-Months 13.00 13.20 13.30 13.35 13.21
5-Months 13.00 13.20 13.30 13.40 13.23
6-Months 13.05 13.20 13.30 13.40 13.24
9-Months 13.15 13.25 13.40 13.40 13.30
1-Year 13.20 13.30 13.40 13.45 13.34
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RUPEE IN LAHORE: The rupee-dollar parity remained unchanged amid low trading in the Lahore currency market on Tuesday.
According to dealers, the dollar resumed trading at overnight Rs 86.60 and Rs 86.90 as buying and selling rates, respectively, which continued throughout the day.
However, rupee declined against pound sterling, which was purchased and sold at Rs 142.70 and Rs 143.50 as compared to Monday's Rs 142.50 and Rs 143.30, for buying and selling, respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 86.00 (buying) and Rs 86.30 (selling) against same last week's 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 same overnight value. British currency 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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