Steady trend was witnessed on the money market on Thursday as national currency managed to recover modestly versus dollar, dealers said. The rupee rose by four paisa in relation to dollar for buying at 86.75 and gained three paisa for selling at 86.80, they said.
INTERBANK MARKET RATES: To stabilise the exchange rate some steps were taken, resulting in the rupee, which was under pressure during the last two months, started showing firmness in terms of dollar, experts said. In the fourth Asian trade euro hit a seven-week high after EU leaders and banks reached a deal on a 50 percent write down for private bond holders on their Greek debt and made progress in other areas crucial to stemming the debt crisis.
The euro jumped 0.6 percent to $1.4000, breaking through a wall of orders and charging past stop-loss points on the way, also bolstered by the EU's progress on bank recapitalisation and its move to scale up the size of the euro zone's 440 billion euro ($600 billion) bailout fund.
Interbank buy/sell rates for taka against dollar on Thursday: 76.15-76.20 (previous 76.10-76.16) Call Money Rates: 6.50-10.00 percent (previous 6.50-10.00 percent).
OPEN MARKET RATES: The rupee managed to recover 20 paisa in terms of dollar for buying at 86.60 while it maintained its selling level at 87.00, they said. The rupee, however, fell in relation to euro, losing 60 paisa for buying and selling at Rs 120.76 and Rs 121.26, they said.
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Open Buying Rs 86.60
Open Selling Rs 87.00
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Open Market Rates: Open Market Rates For Dollar on Thursday.
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Buying Rs.86.79
Selling Rs.86.83
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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 9.10 9.75 9.10 10.00 9.49
1-Week 11.00 11.25 11.10 11.50 11.21
2-Week 11.40 11.60 11.50 11.75 11.56
1-Month 11.50 11.65 11.70 11.80 11.66
2-Months 11.65 11.75 11.80 11.85 11.76
3-Months 11.65 11.75 11.80 11.85 11.76
4-Months 11.65 11.80 11.80 11.85 11.78
5-Months 11.65 11.80 11.80 11.85 11.78
6-Months 11.65 11.80 11.80 11.85 11.78
9-Months 11.70 11.80 11.80 11.85 11.79
1-Year 11.75 11.85 11.85 11.90 11.84
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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 9.10 9.75 9.10 10.00 9.49
1-Week 11.00 11.25 11.10 11.50 11.21
2-Week 11.50 11.65 11.55 11.75 11.61
1-Month 11.60 11.75 11.75 11.85 11.74
2-Months 11.75 11.85 11.85 11.90 11.84
3-Months 11.80 11.90 11.90 11.95 11.89
4-Months 11.80 11.90 11.90 11.95 11.89
5-Months 11.80 11.90 11.90 12.00 11.90
6-Months 11.85 11.95 11.95 12.00 11.94
9-Months 11.85 12.00 12.00 12.10 11.99
1-Year 11.90 12.00 12.10 12.15 12.04
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RUPEE IN LAHORE: The Pak rupee stayed unchanged on buying side, while it continue to improve on selling side against the dollar in the local currency market on Thursday.
According to the currency dealers, the dollar commenced trading at its day earlier closing of Rs 87.00 and Rs 87.40, as its buying and selling rates, respectively. There was no change in the dollar's value on buying side while it was declined to Rs 87.20 on selling side, the dealers said.
However, rupee showed strength and appreciated its value against the British pound. The pound's buying and selling rates were decreased from Wednesday closing of Rs 138.00 and Rs 139.00 to Rs 137.50 and Rs 138.50, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of rupee against the dollar remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 87.55 (buying) and Rs 88.05 (selling) against the rate. It did not observe further change in the second session and closed at Rs 87.55 (buying) and Rs 88.05 (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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