Declining trend persisted in the interbank market for the second day on Friday as the rupee dropped five paisa for buying and selling at 59.68 and 59.70 per dollar, respectively. Thus, the rupee has lost 10 paisa within two days as the market reopened on Thursday after observing three-day holiday on account of Eid-ul-Fitr, dealers said.
After long weekend, importers rushed to the market to meet the emerging demand for payments, currency experts said.
They, however, added that the rupee-dollar parity rates might show further weakness as debt payments of 65-70 million dollars are still in hand to clear.
Since the beginning of the fiscal year, the rupee has lost nearly five percent against dollar, with most of the losses occurring in September and October because of a widening trade deficit.
According to Federal Bureau of Statistics, the trade deficit for the period from July to October was 1.43 billion dollars, against 314.72 million dollars in the same period of last year.
High oil prices and a sharp increase in the import of machinery and raw materials were mainly responsible for the trade deficit, officials said.
By and large, the rates were unchanged on easy supply of dollars in the market, they added.
Profit-taking pushed euro rates down versus dollar in the international markets, dealers said. As a result, the single European currency lost 30 paisa in relation to rupee for buying and selling at Rs 76.80 and Rs 77.10 amid modest trading

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Kerb buying             Rs 60.05
Kerb selling            Rs 60.10
================================

==============================
Buying                Rs 59.68
Selling               Rs 59.70
==============================
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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   7.00       7.40       7.25        7.40           7.26
1-Week      5.50       5.75       6.25        6.50           6.00
2-Week      4.25       4.50       4.50        5.00           4.56
1-Month     3.75       4.00       4.25        4.50           4.13
2-Months    4.00       4.25       4.50        4.75           4.38
3-Months    3.60       3.70       4.00        4.20           3.88
4-Months    3.75       4.00       4.25        4.50           4.13
5-Months    4.00       4.25       4.50        4.75           4.38
6-Months    4.25       4.50       4.75        5.00           4.63
9-Months    3.80       4.50       4.75        5.00           4.51
1-Year      4.25       4.50       4.75        5.25           4.69
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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   7.25       7.50       7.40        7.45           7.40
1-Week      5.75       6.50       7.00        7.25           6.63
2-Week      4.75       5.25       5.50        6.00           5.38
1-Month     4.25       4.75       5.25        5.75           5.00
2-Month     4.25       4.50       5.00        5.25           4.75
3-Month     4.00       4.25       4.50        4.75           4.38
4-Month     4.20       4.40       4.60        4.80           4.50
5-Month     4.50       4.75       5.00        5.25           4.88
6-Month     4.50       5.00       5.20        5.50           5.05
9-Month     5.00       5.25       5.50        5.75           5.38
1-Year      5.25       5.50       6.00        6.50           5.81
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