The Pak rupee recovered versus the greenback amid moderate trading activity in the Interbank Forex Market during the day.
The "spot" market opened with the US dollar changing hands in the range of Rs 57.49 and Rs 57.51 as respective buying and selling rates.
Sufficient supply of the US dollar coupled with thin buying interest caused surge in the value of the local currency as it appreciated by 1.0 paisa in bid and offer at Rs 57.48 and Rs 57.49. The market closed unchanged on these levels.
In swap transactions, prices in all the terures eased off. 1-week swap was dealt in the range of -4.0 paisa and -2.0 pasia.
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DAILY FOREX REPORT Wednesday (March 24, 2004)
SBP US $/PKR Parity: 46.00/.23
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US $/PKR Ready 1 Wk 1M 2M 3M 4M 5M R/6M
Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer
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Outright 57.48 57.49 57.48 57.49 57.40 57.42 57.36 57.38 57.34 57.36 57.34 57336 57.32 57.35 57.31 57.34
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SWAP
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O/N R/1 WK R/1 M R/2 M R/3 M R/4 M R/5 M R/6 M
Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer
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Paisa -0.50 0.00 -4.00 -2.00 -8.50 -7.00 -13.00 -11.00 -15.00 -13.00 -15.00 -13.00 -17.00 -14.00 -18.00 -15.00
% Bid -2.17 1.00 -2.63 -0.81 -0.80 -0.48 -0.38 -0.16 -0.06 0.08 0.21 0.31 0.28 0.41 0.37 0.47
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