Downward trend continued in interbank market on Thursday as the rupee lost two paisa for buying at 59.87 and slid three paisa for selling at 59.89, dealers said.
According to some analysts, during the current month, the rupee has eased due to year-end dollar demand from importers and routine debt payments. They also said that remittances from the overseas Pakistanis were supporting the rupee as enabling the local currency to resist sharp fall versus the dollar.
In the world market, the dollar was back to the old pattern, started losing versus the major currencies mainly due to its own reasons, analysts said.
The rupee remain unchanged versus the dollar for buying and selling at 60.10 and 60.15 in process of trading, dealers said.
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Kerb Buying Rs 60.10
Kerb Selling Rs 60.15
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Buying Rs 59.87
Selling Rs 59.89
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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 4.00 7.75 5.00 8.00 6.19
1-Week 6.00 6.50 6.50 7.25 6.56
2-Week 6.50 6.75 7.00 7.50 6.94
1-Month 8.00 8.15 8.25 8.35 8.19
2-Months 8.10 8.25 8.25 8.35 8.24
3-Months 8.15 8.25 8.25 8.30 8.24
4-Months 8.15 8.30 8.30 8.40 8.29
5-Months 8.20 8.35 8.40 8.50 8.36
6-Months 8.20 8.35 8.40 8.60 8.39
9-Months 8.40 8.50 8.55 8.60 8.51
1-Year 8.50 8.55 8.60 8.70 8.59
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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 5.00 6.00 5.50 7.00 5.88
1-Week 7.00 7.50 7.75 8.25 7.63
2-Week 7.25 7.75 8.00 8.50 7.88
1-Month 8.75 9.25 9.00 9.75 9.19
2-Months 8.50 9.00 9.10 9.50 9.03
3-Months 8.60 9.00 9.25 9.60 9.11
4-Months 8.75 9.25 9.35 9.75 9.28
5-Months 8.90 9.50 9.50 10.00 9.48
6-Months 9.00 9.60 9.50 10.00 9.53
9-Months 9.00 9.75 9.60 10.20 9.64
1-Year 9.25 10.00 9.90 10.50 9.91
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According to the currency dealers, the dollar witnessed increase in its demand, which pushed down value of the local currency. The dollar resumed trading at Rs 60.05 and Rs 60.15 on buying and selling sides, respectively. It kept moving upward and finally closed higher at Rs 60.10 and Rs 60.20 on buying and selling counters, respectively, as against Rs 60.03 and Rs 60.13 of Wednesday, the dealers added.
However, the local currency continued downward slide and further depreciated its value against the pound sterling. The British pound was purchased at Rs 105.90 and was sold at Rs 106.20 as compared to Rs 105.70 and Rs 106.00 of Wednesday, the dealers added.
The dollar opened at Rs 60.45 (buying) and Rs 60.55 (selling) against same last rate. It did not witness any further change in the evening session and closed at Rs 60.45 (buying) and Rs 60.55 (selling).
The pound sterling opened at Rs 106 (buying) and Rs 106.40 (selling) against same previous rate. It did not observe any further change in the second spell and closed at Rs 106 (buying) and Rs 106.40 (selling).