Panic buying of dollars continued in the interbank market on Tuesday and it touched the new high mark of Rs 59.25, dealers said. The rupee lost five paisa against dollar at Rs 59.20 and Rs 59.22 for buying and selling, respectively, they said.
In fact, the supply side is strong in the absence of proper selling of dollars, they added. The rupee came under pressure as the government had to clear some major bills for oil.
Even exporters did not come to rescue the rupee and held back their dollars stock anticipating further increase in dollar's value in the coming days, analysts said.
However, State Bank's indirect intervention and stable foreign exchange reserves helped the rupee to save itself from sharp losses, they added. "The Bank has let the rupee fall to a level but what is the new mark we are just waiting for, and SBP is also keeping an eye on rupee fluctuation versus dollar," they added.
The rupee shed slightly versus euro for buying and selling at Rs 72.80 and Rs 73.10, respectively.
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Kerb buying Rs 59.65
Kerb selling Rs 59.70
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Buying Rs 59.20
Selling Rs 59.22
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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 5.75 7.40 6.25 7.40 6.70
1-Week 3.50 4.25 3.75 4.50 4.00
2-Week 3.50 3.75 4.00 4.25 3.88
1-Month 2.80 3.10 3.30 3.50 3.18
2-Months 2.90 3.20 3.40 3.60 3.28
3-Months 2.90 3.10 3.10 3.25 3.09
4-Months 3.00 3.25 3.50 3.70 3.36
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 6.00 7.40 6.50 7.45 6.84
1-Week 3.75 4.25 4.00 4.75 4.19
2-Week 3.75 4.00 4.25 4.50 4.13
1-Month 3.00 3.25 3.50 3.75 3.38
2-Month 3.10 3.30 3.50 3.70 3.40
3-Month 3.20 3.40 3.60 3.80 3.50
4-Month 3.25 3.50 3.75 4.00 3.63
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 3.90 4.10 4.30 4.50 4.20
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