THE RUPEE: dollar at Rs 60 in interbank market

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THE RUPEE: dollar at Rs 60 in interbank market

14 Mar, 2006

The rupee came under pressure against the dollar in the interbank market on Monday due to tight supply of the US currency, losing four paisa for buying and selling at 60.00 and 60.02, respectively.
According to the market sources, both foreign and local banks bought nearly 30-35 million dollars to meet the importers' demand.
In the coming days, the rupee may move in tight range due to strong demand for dollar, they said.
In the world markets, the dollar was higher against the major currencies, dealers said.
The rupee also lost five paisa versus the euro for buying and selling at Rs 71.55 and Rs 71.65, dealers said.


================================
Buying                  Rs 60.07
Selling                 Rs 60.15
================================


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Buying                Rs 60.00
Selling               Rs 60.02
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight   7.25       8.00       7.50        8.25   7        .75
1-Week      7.75       8.00       7.90        8.20   7        .96
2-Week      7.80       8.00       8.00        8.15   7        .99
1-Month     8.05       8.25       8.15        8.35   8        .20
2-Months    8.15       8.35       8.25        8.40   8        .29
3-Months    8.20       8.35       8.25        8.50   8        .33
4-Months    8.25       8.50       8.40        8.60   8        .44
5-Months    8.35       8.55       8.45        8.70   8        .51
6-Months    8.40       8.60       8.50        8.75   8        .56
9-Months    8.40       8.70       8.60        8.75   8        .61
1-Year      8.50       8.75       8.65        8.90   8        .70
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight   7.50       8.25       7.75        8.40           7.98
1-Week      8.25       8.50       8.50        8.75           8.50
2-Week      8.50       8.75       8.60        8.90           8.69
1-Month     8.75       9.25       9.00        9.50           9.13
2-Months    8.75       9.40       9.00        9.60           9.19
3-Months    8.85       9.50       9.10        9.60           9.26
4-Months    8.90       9.75       9.25        9.80           9.43
5-Months    8.90       9.75       9.30        9.90           9.46
6-Months    9.25       9.90       9.50       10.25           9.73
9-Months    9.40      10.00       9.75       10.25           9.85
1-Year      9.50      10.00       9.75       10.25           9.88
=================================================================

According to the currency dealers, the dollar resumed trading at Rs 60.10 and Rs 60.20 on buying and selling sides, respectively. The opening rates continued to prevail throughout the day. However, at the end of trading, the dollar marginally improved and closed at Rs 60.12 and Rs 60.22 against Rs 60.05 and Rs 60.15 on buying and selling counters, respectively, the dealers said.
On the contrary, the rupee maintained its previous week closing level on the buying side while it appreciated its worth on selling side against the pound sterling. The pound was purchased at Rs 103.65 and was sold at Rs 104.00 as compared to last closing of Rs 103.65 and Rs 104.10, respectively, the dealers added.
ISLAMABAD: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi on Monday.
The dollar opened at Rs 60 (buying) and Rs 60.10 (selling) unchanged from last week's rate. It did not observe any further change in the second session and closed at Rs 60 (buying) and Rs 60.10 (selling).
The pound sterling opened at Rs 104 (buying) and Rs 104.50 (selling) against same last rate. It did not observe any further change in the second spell and closed at Rs 104 (buying) and Rs 104.50 (selling).

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