On the return of the former Prime Minister Benazir Bhutto, the rupee-dollar official parity rates maintained a firm outlook in the interbank market on Thursday, showing no change in the overnight levels at Rs 60.63 and Rs 60.65, dealers said.
Expectations from the country's politicians regarding the solutions of the needy people's problems in days to come pushed up the stock market to touch the historical rise during the journey of the ex-premier, market commentators said.
In the global market, during the fourth session of the week, dollar slipped, hitting a two-week low against yen after data showing US housing starts sank to a 14-year low last month cranked up speculation that the Federal Reserve may cut interest rates.
The yen trimmed gains made this week versus higher-yielding currencies as Asian stocks recovered on Thursday from losses the previous session, re-heating demand for risky trades using the low-yielding yen to buy assets in higher-yielding currencies.
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Buying Rs 60.63
Selling Rs 60.65
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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 9.90 9.90 9.90 9.95 9.91
1-Week 9.90 9.95 9.90 9.95 9.93
2-Weeks 9.50 9.60 9.60 9.70 9.60
1-Month 9.30 9.45 9.40 9.50 9.41
2-Months 9.25 9.35 9.35 9.45 9.35
3-Months 9.25 9.40 9.30 9.45 9.35
4-Months 9.25 9.40 9.35 9.45 9.36
5-Months 9.25 9.40 9.30 9.45 9.35
6-Months 9.30 9.40 9.35 9.50 9.39
9-Months 9.35 9.40 9.35 9.50 9.40
1-Year 9.35 9.50 9.40 9.60 9.46
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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 9.95 10.10 10.00 10.25 10.08
1-Week 9.95 10.00 10.00 10.25 10.05
2-Weeks 9.75 9.85 9.80 9.90 9.83
1-Month 9.50 9.70 9.60 9.75 9.64
2-Months 9.45 9.70 9.60 9.80 9.64
3-Months 9.45 9.75 9.50 9.80 9.63
4-Months 9.50 9.75 9.60 9.80 9.66
5-Months 9.50 9.90 9.65 9.90 9.74
6-Months 9.60 10.00 9.75 10.10 9.86
9-Months 9.75 10.10 10.00 10.25 10.03
1-Year 9.90 10.25 10.10 10.40 10.16
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The dollar witnessed a slight pressure helping the rupee to improve. The dollar was traded at Rs 60.70 and Rs 60.80 against Wednesday's closing of Rs 60.75 and Rs 60.85 on buying and selling sides.
The rupee failed to get out of pressure and lost its value against the pound sterling. The pound's buying rate improved from overnight closing of Rs 122.50 to Rs 123 while its selling rate moved up from Rs 122.90 to Rs 123.40.
The dollar opened at Rs 60.60 (buying) and Rs 60.70 (selling) against same overnight value. It did not observe any change in the second session and closed at Rs 60.60 (buying) and Rs 60.70 (selling).
Pound Sterling opened at Rs 123 (buying) and Rs 123.20 (selling) against last rate of Rs 122.60 (buying) and Rs 122.70 (selling). It did not observe further change in the second spell and closed at Rs 123 (buying) and Rs 123.20 (selling).