The rupee-dollar parity rates fell marginally in the interbank market on Tuesday at Rs 58.85 and Rs 58.88 for buying and selling, respectively, due to Pak-Arab Refinery (Parco) payment of 100 million dollars, currency market experts said. They said that the fall was modest as the market received increased dollars selling by different banks to ease pressure over the rupee.
As a result of interbank market dollar-buying from the open market, the rates tumbled with sharp decline in the open market as the rupee lost 13 paisa against dollar at Rs 59.33 and Rs 59.38 for buying and selling, respectively.
According to market sources, the present trend in the currency regime has made the payments higher which pushed the trade deficit of the new fiscal year up to 0.5 billion dollars against 0.1 billion dollars in the same period of last year. On the other hand, this tendency is escalating the cost of production which is indirectly affecting exports, they added.
Some currency experts said that the falling trend in the oil prices the world over might bring the import payment bill down in the coming days.
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Kerb buying Rs 59.33
Kerb selling Rs 59.38
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Buying Rs 58.85
Selling Rs 58.88
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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 1.00 2.00 1.50 2.50 1.75
1-Week 1.25 1.50 1.75 2.00 1.63
2-Week 1.75 2.00 2.25 2.50 2.13
1-Month 2.00 2.25 2.40 2.50 2.29
2-Months 2.20 2.30 2.50 2.70 2.43
3-Months 2.25 2.50 2.75 2.90 2.60
4-Months 2.40 2.50 2.80 3.00 2.68
5-Months 2.50 2.75 3.00 3.25 2.88
6-Months 2.70 2.80 3.00 3.20 2.93
9-Months 2.90 3.10 3.40 3.70 3.28
1-Year 3.20 3.40 3.75 3.90 3.56
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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 1.25 2.25 1.75 2.50 1.94
1-Week 1.50 1.75 2.00 2.25 1.88
2-Week 2.00 2.25 2.50 2.75 2.38
1-Month 2.25 2.50 2.75 3.00 2.63
2-Month 2.50 2.75 3.00 3.25 2.88
3-Month 2.50 2.75 3.00 3.25 2.88
4-Month 2.75 3.00 3.25 3.50 3.13
5-Month 2.75 2.90 3.25 3.50 3.10
6-Month 2.90 3.10 3.50 3.90 3.35
9-Month 3.20 3.40 3.70 3.90 3.55
1-Year 3.40 3.60 4.00 4.10 3.78
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