The dollar and euro were higher on the currency market on Wednesday in process of trading, dealers said. The rupee could not come out of the weak spells as dollar tended higher due to strong demand by importers, marketmen said.
INTERBANK MARKET RATES: The rupee lost 45 paisa versus dollar for buying and selling at 89.40 and 89.45, experts said adding that sharp fall in a single day is indicating for further devaluation of the rupee.
OPEN MARKET RATES: The rupee shed 20 paisa against dollar for buying and selling at 89.50 and 89.80, they said. The rupee followed the same print in terms of euro, losing 49 paisa for buying and selling at Rs 119.46 and Rs 119.96, they said.
Reuters adds: in the third Asian session euro clawed higher and stayed above a one-week low hit the previous day, with markets cautiously optimistic that European leaders will take decisive action to contain the region's debt crisis at a summit later this week. The euro rose 0.3 percent to $1.3435, hovering above Tuesday's low near $1.3334. There was talk of light stop-loss bids in euro at $1.3470 and also near $1.3500. The dollar was trading versus the Indian rupee at Rs 51.43, it was at 3.1230 in relation to the Malaysian ringgit and the US currency was at 6.3528 in terms of the Chinese yuan.
========================
Open Buying Rs 89.50
Open Selling Rs 89.80
========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
========================
Buying Rs 89.40
Selling Rs.89.45
========================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 11.90 11.90 11.90 11.90 11.90
1-Week 11.80 11.90 11.90 11.90 11.88
2-Week 11.80 11.90 11.85 11.90 11.86
1-Month 11.70 11.85 11.85 11.90 11.83
2-Months 11.70 11.85 11.85 11.90 11.83
3-Months 11.70 11.80 11.80 11.85 11.79
4-Months 11.70 11.75 11.80 11.85 11.78
5-Months 11.70 11.80 11.80 11.85 11.79
6-Months 11.65 11.75 11.80 11.85 11.76
9-Months 11.70 11.85 11.85 11.90 11.83
1-Year 11.70 11.85 11.85 11.90 11.83
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 11.90 11.90 11.90 11.95 11.91
1-Week 11.85 11.95 11.90 12.00 11.93
2-Week 11.85 11.95 11.90 12.00 11.93
1-Month 11.80 11.90 11.85 12.00 11.89
2-Months 11.80 11.90 11.85 12.00 11.89
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 11.85 11.90 11.90 12.00 11.91
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
=================================================================
RUPEE IN LAHORE: The rupee gained 30 paisa on buying side while it remained unchanged on selling side against dollar on Lahore currency market on Wednesday.
According to dealers, the dollar resumed traded at last Saturday]s Rs 89.50 and Rs 90.00 as buying and selling rates, and closed lower at Rs 89.20 as its buying rate and its selling rate remained intact at Rs 90.00. The rupee also remained unchanged on buying side but declined on the selling side against pound sterling. The pound was purchased and sold at Rs 138.30 and Rs 139.00 respectively. Some dealers quoted Rs 138.20 and Rs 139.20 as buying and selling rates, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Wednesday. The dollar opened at Rs 87.60 (buying) and Rs 88.05 (selling) against the last rate. It did not observe further change in the second session and closed at Rs 87.60 (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).
Comments
Comments are closed.