The rupee fluctuated in a narrow range in the interbank market on Tuesday, showing one paisa fall on the buying and selling counters at 59.73 and 59.75, respectively.
According to the market sources, the rupee mostly retained its level versus the dollar, as supply was enough to meet the market demand.
During the month of Ramazan, the country receives increased inflow by the overseas Pakistanis, which helped the local currency to sustain its present level despite higher demand by the corporate sector for payments.
In the world markets, the dollar maintained its overnight level versus the leading currencies on expectations about the higher US interest rates, dealers said, adding, the euro was not able to come out of it's weakness despite the positive political developments in Germany.
The rupee gained 80 paisa against the euro for buying and selling at Rs 71.60 and Rs 71.70, respectively.
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Kerb Buying Rs 60.07
Kerb Selling Rs 60.12
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Buying Rs 59.73
Selling Rs 59.75
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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 8.90 8.90 8.90 8.90 8.90
1-Week 8.25 8.40 8.50 8.60 8.44
2-Week 8.15 8.30 8.30 8.50 8.31
1-Month 8.20 8.35 8.40 8.50 8.36
2-Months 8.10 8.25 8.25 8.40 8.25
3-Months 8.15 8.25 8.25 8.40 8.26
4-Months 8.15 8.20 8.25 8.35 8.24
5-Months 8.20 8.25 8.35 8.45 8.31
6-Months 8.25 8.30 8.40 8.50 8.36
9-Months 8.25 8.50 8.50 8.65 8.48
1-Year 8.45 8.60 8.70 8.80 8.64
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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 9.00 10.00 9.50 10.25 9.69
1-Week 8.40 9.25 8.75 9.75 9.04
2-Week 8.30 9.00 8.50 9.25 8.76
1-Month 8.40 8.90 8.60 9.25 8.79
2-Months 8.25 8.75 8.65 9.00 8.66
3-Months 8.30 8.85 8.65 9.25 8.76
4-Months 8.40 9.00 8.80 9.30 8.88
5-Months 8.45 9.15 8.90 9.40 8.98
6-Months 8.50 9.25 8.95 9.45 9.04
9-Months 8.65 9.30 9.00 9.50 9.11
1-Year 9.00 9.50 9.25 9.75 9.38
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According to the currency dealers, there was no change in dollar's demand, which helped local currency show stability. The dollar's trading commenced at Monday's closing rates of Rs 60.00 and Rs 60.10 on buying and selling sides, respectively. The opening rates continued to prevail throughout the day, the dealers added.
However, the rupee continued its rising trend and further improved its worth against the pound sterling. The British pound was purchased at Rs 104.65 and was sold at Rs 104.95 as compared to previous closing rates of Rs 105.10 and Rs 105.50, the dealers added.
The dollar opened at Rs 60.10 (buying) and Rs 60.20 (selling) against last rate of Rs 60.20 (buying) and Rs 60.30 (selling). It did not observe any further change in the evening session and closed at Rs 60.10 (buying) and Rs 60.20 (selling).
Pound sterling opened at Rs 104.50 (buying) and Rs 105 (selling) against last rate of Rs 105.80 (buying) and Rs 106.30 (selling). It did not show any further change and closed at Rs 104.50 (buying) and Rs 105 (selling).