Range-bound trading was seen on the interbank market on Thursday as the rupee showed gradual fall of five paisa against the dollar for buying and selling at 81.70 and 81.75, currency experts said. Commenting on the currency movements they said that the rupee was travelling in the negative territory on the interbank market due to strong demand by the banks.
But erosion in the value of the rupee was modest during the week. In the meantime, it can be expected that as a result of inflows of foreign exchange dollar may come down in the coming days. Additionally the value of dollar is likely to show some decline after the US elections in November 2008.
The expenditures or demand of the US currency have increased due to elections campaign in the United States, so it is expected that the dollar may start limping at home and also in other markets of the world, they said. Advisor to the Prime Minister said that we have no other option except seeking assistance from the International Monetary Fund (IMF) to cope with dwindling foreign reserves and a balance-of-payments (BoP) crisis. The top economic officials had been in talks with the IMF in Dubai since last week and Shaukat Tarin, told the Senate late on Wednesday the negotiations would be completed on Thursday.
Amid fourth Asian session euro jumped against dollar and yen as a recovery in emerging assets helped ease fears about global financial woes, prompting investors to buy back the recently battered European single currency. The yen fell broadly as a rally in Tokyo share prices and growing expectations the Bank of Japan could cut interest rates this week fuelled profit taking on the Japanese currency's surge this month.

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Open Buying             Rs 83.30
Open Selling            Rs 84.00
================================

==============================
Buying                Rs 81.70
Selling               Rs 81.75
==============================
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Repo Rates (Yield p a)
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Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight   10.50      12.00      11.25        12.25        11.50
1-Week      11.25      11.75      11.75        12.00        11.69
2-Week      11.50      11.75      11.80        12.00        11.76
1-Month     11.75      12.10      12.10        12.25        12.05
2-Months    12.25      12.45      12.40        12.55        12.41
3-Months    12.25      12.50      12.40        12.60        12.44
4-Months    12.35      12.50      12.45        12.55        12.46
5-Months    12.40      12.55      12.50        12.60        12.51
6-Months    12.50      12.60      12.55        12.65        12.58
9-Months    12.50      12.65      12.60        12.70        12.61
1-Year      12.55      12.65      12.65        12.75        12.65
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Call Rates (Yield p a)
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Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight   13.00      16.00      14.00        17.00        15.00
1-Week      13.00      17.00      14.00        18.00        15.50
2-Week      13.00      17.00      14.00        18.00        15.50
1-Month     12.50      16.00      13.50        17.00        14.75
2-Months    13.00      15.00      14.00        16.00        14.50
3-Months    13.00      15.00      14.00        16.00        14.50
4-Months    13.00      15.00      14.00        16.00        14.50
5-Months    13.50      15.50      14.50        16.50        15.00
6-Months    13.50      15.50      14.50        16.50        15.00
9-Months    14.50      16.00      15.50        17.00        15.75
1-Year      14.50      16.00      15.50        17.00        15.75
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