Mixed patterns were seen on the currency market on Thursday as the rupee resisted sharp losses versus dollar and euro, dealers said. The rupee retained its level against dollar for buying at 87.41 while it shed four paisa for selling at 87.46, they said.
INTERBANK MARKET RATES: In the fourth Asian trade euro gained on short-covering in volatile, commodity-driven trade after riskier assets bounced off intraday lows on Thursday, but was still on track to mark its worst quarter since early 2010, with traders preparing for further falls.
On the day, euro bobbed up 0.6 percent to a session peak of $1.3638, as stocks and commodities were scooped up on dips after an overnight sell-off, with the rally getting stuck in a layer of offers at $1.3620-40. Stop losses loom at $1.3650.
The euro has lost nearly seven percent against dollar this quarter, hammered by nagging worries over the prospect of Greek default and constant bickering by European policymakers over the response to the crisis.
Interbank buy/sell rates for taka against dollar on Thursday: 75.28-75.30 (previous 75.22-75.24) Call Money Rates: 6.00-8.00 percent (previous 6.50-8.50 percent). The dollar versus the Indian rupee was available at Rs 48.91, versus the Malaysian ringgit it was trading at 3.1880 and in terms of the Chinese yuan the US currency was at 6.3979.
OPEN MARKET RATES: The rupee slipped by 10 paisa in relation to dollar for buying and selling at 88.20 and 88.40, they added. The rupee, however, gained 22 paisa versus euro for buying and selling at Rs 120.44 and Rs 120.94, they said.
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Open Buying Rs 88.20
Open Selling Rs.88.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Buying Rs.87.41
Selling Rs.87.46
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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 13.40 13.40 13.40 13.40 13.40
1-Week 13.25 13.40 13.40 13.40 13.36
2-Week 13.15 13.30 13.35 13.40 13.30
1-Month 13.10 13.25 13.30 13.35 13.25
2-Months 13.10 13.20 13.25 13.30 13.21
3-Months 12.90 13.15 13.15 13.20 13.10
4-Months 12.85 13.05 13.10 13.20 13.05
5-Months 12.80 13.00 13.10 13.15 13.01
6-Months 12.80 13.00 13.10 13.15 13.01
9-Months 12.85 13.00 13.00 13.10 12.99
1-Year 12.85 13.00 13.05 13.10 13.00
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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 13.40 13.40 13.40 13.45 13.41
1-Week 13.25 13.40 13.40 13.45 13.38
2-Week 13.25 13.40 13.40 13.40 13.36
1-Month 13.15 13.30 13.30 13.35 13.28
2-Months 13.00 13.25 13.25 13.35 13.21
3-Months 12.90 13.25 13.25 13.30 13.18
4-Months 12.90 13.25 13.25 13.30 13.18
5-Months 12.90 13.30 13.25 13.35 13.20
6-Months 13.00 13.30 13.30 13.35 13.24
9-Months 13.00 13.30 13.30 13.35 13.24
1-Year 13.00 13.35 13.30 13.40 13.26
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RUPEE IN LAHORE: The Pak rupee failed to continue rising trend and lost 40-paisa on buying side, while it remained unchanged on selling side in relation to the greenback in the local currency market on Thursday.
According to the currency dealers, because of weak supply, the dollar gained strength on buying side but in the absence of buying support, its selling rate remained intact at Rs 89.00. The dollar was traded at Rs 88.70 and Rs 89.00, as its buying and selling rates against the Wednesday closing of Rs 88.30 and Rs 89.00, respectively.
Similarly, the rupee remained depressed and was declined against the pound sterling. The pound's buying and selling rates were improved from the day earlier closing of Rs 138.50 and Rs 139.50 to Rs 139.00 and Rs 140.00, 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 Thursday.
The dollar opened at Rs 88.50 (buying) and Rs 88.60 (selling) against the last rate. It did not observe further change in the second session and closed at Rs 88.50 (buying) and Rs 88.60 (selling).
Pound Sterling opened at Rs 137.80 (buying) and Rs 137.90 (selling) against the overnight value. It did not observe further change in the evening session and closed at Rs 137.80 (buying) and Rs 137.90 (selling).
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