Volatility seemed to come to a halt on Friday as State Bank's intervention brought back the rupee on its old track which recovered 23 paisa versus dollar in the interbank market at Rs 59.13 and Rs 59.15 for buying and selling, respectively, dealers said. Under the circumstances, whispers were in the air as to how far the rupee would be able to take a boost on the back of central bank's intervention, they added.
One of the main factors is the forward buying of dollars by importers, they said.
Despite sharp fall of the rupee in the interbank market on Thursday, banking sources claimed that they were trying their level best to keep money market tight to save the rupee from sharp depreciation against dollar.
In the meantime, the State Bank is keeping watch over the trend in the currency market. It means that the rupee is not on the mercy of market. The SBP also asked the banks to refrain from speculative trade in currency, they said.
The rupee also lost 20 paisa versus euro for buying and selling at Rs 73.00 and Rs 73.30,dealers said.
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Kerb buying 59.65
Kerb selling 59.75
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Buying 59.13
Selling 59.15
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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 7.40 7.45 7.40 7.45 7.43
1-Week 6.00 6.25 6.50 6.75 6.38
2-Week 4.00 4.25 4.50 4.75 4.38
1-Month 3.25 3.50 3.75 4.00 3.63
2-Months 3.00 3.20 3.40 3.60 3.30
3-Months 2.80 3.00 3.20 3.40 3.10
4-Months 3.00 3.20 3.40 3.60 3.30
5-Months 3.20 3.40 3.60 3.80 3.50
6-Months 3.30 3.50 3.70 3.90 3.60
9-Months 3.50 3.70 3.90 4.10 3.80
1-Year 3.70 3.90 4.10 4.30 4.00
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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 7.40 7.40 7.40 7.40 7.40
1-Week 6.25 6.50 6.75 7.00 6.63
2-Week 4.50 4.75 5.00 5.25 4.88
1-Month 3.40 3.60 3.80 4.00 3.79
2-Month 3.20 3.40 3.60 3.80 3.50
3-Month 3.30 3.50 3.70 3.90 3.60
4-Month 3.40 3.60 3.80 4.00 3.70
5-Month 3.50 3.75 4.00 4.25 3.88
6-Month 3.50 3.75 4.00 4.25 3.88
9-Month 3.75 4.00 4.25 4.50 4.13
1-Year 4.00 4.25 4.50 4.75 4.38
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