Sharp recovery was seen on the interbank market on Friday following the easy supply of dollars and the modest recovery on the local stock market, dealers said. On the interbank market, the rupee gained 1.05 for buying at 71.00 and it also rose by 100 paisas for selling at 71.10, they said.
Expectations for improvement in inflows also helped the rupee to look ahead. Besides, they said, recovery in the Karachi stock could be another factor behind the rupee's bullish sentiment. During the fifth session, dollar inched lower after posting its biggest daily gain against yen in more than three months the day before when US stocks rallied on a sharp drop in oil prices.
The US currency remained on a shaky footing, given concern over the US financial system and bleak growth prospects due to the slumping housing market. Data on Thursday showing a contraction in July factory activity in the US Mid-Atlantic region was the latest evidence of the economic problems there.

================================
Open Buying             Rs 71.90
Open Selling            Rs 72.40
================================

==============================
Buying                Rs 71.00
Selling               Rs 71.10
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight   11.90     11.95       11.90       11.95         11.93
1-Week      10.20     10.40       10.40       10.50         10.38
2-Week      10.30     10.50       10.50       10.80         10.53
1-Month     10.60     10.75       10.80       11.00         10.79
2-Months    11.50     11.65       11.70       11.80         11.66
3-Months    11.70     11.80       11.80       11.85         11.79
4-Months    11.70     11.80       11.75       11.85         11.78
5-Months    11.75     11.80       11.75       11.85         11.79
6-Months    11.75     11.80       11.75       11.90         11.80
9-Months    11.80     11.90       11.90       11.95         11.89
1-Year      11.80     11.90       11.90       11.95         11.89
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight   12.50     14.00       13.50       14.50         13.63
1-Week      12.00     13.00       12.50       14.00         12.88
2-Week      12.00     13.50       12.50       14.00         13.00
1-Month     12.00     13.50       13.00       14.00         13.13
2-Months    12.00     14.00       13.00       14.50         13.38
3-Months    12.50     14.50       13.50       15.00         13.88
4-Months    13.00     14.50       14.00       15.00         14.13
5-Months    13.50     14.50       14.00       15.50         14.38
6-Months    14.00     14.75       14.50       15.50         14.69
9-Months    14.25     15.00       14.75       16.00         15.00
1-Year      14.50     15.50       15.00       16.00         15.25
=================================================================