Stable trend continued in the Interbank Forex Market as both the Pak rupee and the US dollar held their values firm amid balanced demand and supply situation.
The "spot" market opened with the US dollar changing hands in the range of Rs 57.47 and Rs 57.49 as respective buying and selling rates.
In the morning session scattered buying by a few banks marginally eroded the value of the Pak rupee by 1.0 paisa each in bid and offer at Rs 57.48 and Rs 57.50.
However by the end of trading session the local currency recovered the lost ground as the market closed unchanged at Rs 57.47 and Rs 57.49 as respective buying and selling rates.
In swap transactions, prices in all the tenures remained unchanged. 1-week swap was dealt in the range of Par and 1.0 paisa.
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DAILY FOREX REPORT Thursday (April 22, 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 57.47 57.49 57.47 57.49 57.45 57.47 57.41 57.44 57.40 57.42 57.39 57.41 57.37 57.40 57.35 57.38
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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 0.00 0.50 0.00 1.00 -3.00 -1.00 -7.00 -4.00 -8.00 -6.00 -9.00 -7.00 -11.00 -8.00 -13.00 -10.00
% Bid 1.00 4.18 1.00 1.91 0.36 0.79 0.26 0.58 0.44 0.58 0.52 0.63 0.53 0.66 0.54 0.65
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