The rupee on Wednesday shed 10 paisa in the open market for buying and selling at Rs 60.00 and Rs 60.05 for a dollar, dealers said. Slight increase in demand for dollars pushed the local currency value down in the local market, they added. The euro, however, lost 70 paisa versus rupee for buying and selling at Rs 79.65 and Rs 79.95, respectively.
In world markets, the dollar recovered some lost ground versus leading currencies, they said.
The rupee was able to sustain its present levels on the back of the State Bank of Pakistan (SBP) dollars selling to the banks for oil payments, they observed.
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Kerb buying Rs 60.00
Kerb selling Rs 60.05
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Buying Rs 59.46
Selling Rs 59.48
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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 0.75 1.00 1.50 2.00 1.31
1-Week 1.25 1.50 1.75 2.00 1.63
2-Week 1.50 3.00 2.50 3.50 2.63
1-Month 3.50 3.75 4.00 4.50 3.94
2-Months 4.00 4.25 4.75 5.25 4.56
3-Months 4.00 4.50 4.75 5.20 4.61
4-Months 4.20 4.60 4.80 5.25 4.71
5-Months 4.25 4.70 4.90 5.30 4.79
6-Months 4.40 5.00 4.80 5.50 4.93
9-Months 4.60 5.00 5.00 5.40 5.00
1-Year 4.80 5.20 5.20 5.60 5.20
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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 1.00 2.00 1.50 3.00 1.88
1-Week 1.75 2.00 2.50 3.00 2.31
2-Week 3.25 3.50 3.75 4.00 3.63
1-Month 5.00 5.25 5.50 5.75 5.38
2-Month 4.75 5.00 5.25 5.50 5.13
3-Month 5.50 5.75 6.00 6.50 5.94
4-Month 5.00 5.25 5.50 5.75 5.38
5-Month 5.25 5.50 5.75 6.00 5.63
6-Month 5.50 5.75 6.00 6.50 5.94
9-Month 5.75 6.00 6.25 6.50 6.13
1-Year 6.00 6.25 6.50 6.75 6.38
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According to the currency dealers, a slight demand for dollar was seen in the market, which helped appreciation in its worth against the local currency. The dollar resumed trading at Tuesday's closing rates of Rs 59.95 and Rs 60.05 on buying and selling counters, respectively. With the increase in its demand, the dollar moved up and finally closed at Rs 60.00 and Rs 60.10 as its buying and selling rates, respectively, the dealers added.
However, the rupee showed strength and recovered some of its earlier loss against the pound sterling. The British pound was purchased at Rs 115.70 and was sold at Rs 116.10 as compared to Rs 116.10 and Rs 116.40 of Tuesday, the dealers added.
The dollar opened at Rs 59.90 (buying) and Rs 60 (buying) against the same last rate. It did not observe any further change in the second session, and closed at Rs 59.90 (buying) and Rs 60 (buying).
Pound sterling opened at Rs 116 (buying) and Rs 116.20 (selling) against the last rate of Rs 115.80 (buying) and Rs 115.90. It did not observe any further change in the evening session, and closed at Rs 116 (buying) and Rs 116.20 (selling).
Canadian dollar opened at Rs 49.80 (buying) and Rs 50 (selling) against the last rate of Rs 50.10 (buying) and Rs 50.20 (selling). It did not observe any further change in the second spell, and closed at Rs 49.80 (buying) and Rs 50 (selling).