Bullish sentiment was seen in the inter-bank market on the week's opening session as the rupee recovered 50 paisa in relation to dollar at Rs 60.85 and Rs 60.95 for buying and selling, respectively. The statement of State Bank of Pakistan (SBP) governor boosted the rupee in both inter-bank and open markets, dealers said.
They said that the rupee might sustain its present levels in terms of dollar in the coming days.
In the world markets, the dollar showed slight gain versus leading currencies ahead of US elections, they added.
The rupee also improved by 20 paisa gain versus euro for buying and selling at Rs 78.15 and Rs 78.45 on slight fall in demand and partly because of sliding value of the single European currency in world markets, moneychangers said.
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Kerb buying Rs 61.65
Kerb selling Rs 61.75
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Buying Rs 60.85
Selling Rs 60.95
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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 0.30 1.25 0.60 1.75 0.98
1-Week 0.50 1.25 1.25 2.00 1.25
2-Week 1.75 2.25 2.50 3.00 2.38
1-Month 2.40 2.70 2.80 3.10 2.75
2-Months 3.30 3.50 3.60 4.00 3.60
3-Months 3.20 3.60 3.40 4.00 3.55
4-Months 3.30 3.70 3.60 4.10 3.68
5-Months 3.40 3.90 3.70 4.30 3.83
6-Months 3.60 4.00 3.90 4.40 3.98
9-Months 3.80 4.10 4.10 4.50 4.13
1-Year 3.90 4.30 4.20 4.75 4.29
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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 0.50 1.50 0.75 2.00 1.19
1-Week 0.75 1.75 1.50 2.50 1.63
2-Week 2.25 2.75 3.00 3.50 2.88
1-Month 2.90 3.40 3.30 3.80 3.35
2-Month 3.50 4.00 4.00 4.50 4.00
3-Month 3.50 4.00 4.00 4.50 4.00
4-Month 3.75 4.00 4.25 4.50 4.13
5-Month 4.00 4.25 4.50 4.75 4.38
6-Month 4.00 4.25 4.50 5.00 4.44
9-Month 4.25 4.50 5.00 5.75 4.88
1-Year 4.50 5.00 5.25 6.50 5.31
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According to the currency dealers, the dollar registered slight decline in its demand, which helped the local currency improve its value in the local currency markets. The dollar resumed trading at Rs 61.85 and Rs 62.05 on buying and selling counters, respectively. However, the dollar could not sustain and started declining on account of lacking buying support. At the end, the dollar was closed at Rs 61.80 and Rs 62.00 on buying and selling sides, respectively, against Rs 61.90 and Rs 62.10 of Saturday, the dealers added.
On the contrary, the local currency depreciated its worth against the pound sterling. The pound's buying rate improved from previous closing rate of Rs 112.55 to Rs 112.60, while selling rate closed at Rs 113.00 against Rs 112.95 of Saturday, the dealers added.
The dollar opened at Rs 61.50 (buying) and Rs 61.60 (selling) against last rate of Rs 61.60 (buying) and Rs 61.70 (selling). It did not observe any further change in the second session and closed at Rs 61.50 (buying) and Rs 61.60 (selling).
Pound sterling opened at Rs 110.80 (buying) and Rs 110.90 (selling) against last rate of Rs 111.50 (buying) and Rs 111.60 (selling). It did not show any further change in the evening session and closed at Rs 110.80 (buying) and Rs 110.90 (selling).
Canadian dollar opened at Rs 49.75 (buying) and Rs 49.85 (selling) against last rate of Rs 49.50 (buying) and Rs 49.60 (selling). It did not observe any further change in the evening session and closed at Rs 49.75 (buying) and Rs 49.85 (selling).