Declining trend was witnessed on the local currency market on Friday as the rupee drifted lower in relation to the dollar, experts said. On the interbank market the rupee shed 15 paisa against dollar for buying at 84.00 and lost 16 paisa for selling at 84.05, they said.
The foreign exchange reserves improved and despite this positive development, the rupee fell due to strong dollar buying by the importers to meet the payments, they said. The foreign exchange reserves rose to 15.05 billion dollars during the week, the State Bank of Pakistan (SBP) data showed. During the fifth Asian session euro fell on scepticism about Greece servicing its debt, while yen surged as caution about a possible revaluation by China led yen sellers to close short positions ahead of the weekend.
The Australian dollar was hardest hit by yen position closing, while sterling also dropped after a TV debate among prime ministerial candidates in Britain revived market concerns there would be no outright winner in a May 6 election. Reuters add. The Indian rupee weakened on Friday, weighed by a subdued start to the local share market that could prompt foreign fund withdrawals, while gains in the dollar versus majors and other regional peers also dampened sentiment. At 10:25 am (0455 GMT) the partially convertible rupee was at 44.51/52 per dollar, weaker than 44.44/45 at close on Thursday. Malaysian ringgit versus dollar was at 3.2080 and the Chinese yuan was at 6.8262 versus dollar.

==============================
Buying                Rs 84.00
Selling               Rs 84.05
==============================

==============================
Buying                Rs 83.95
Selling               Rs 84.15
==============================
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Repo Rates (Yield p a)
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Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight    12.30     12.40       12.40       12.40        12.38
1-Week       11.40     12.10       12.05       12.15        11.93
2-Week       11.45     12.05       12.05       12.15        11.93
1-Month      11.50     12.00       12.50       12.10        12.03
2-Months     11.70     12.00       12.05       12.10        11.96
3-Months     11.80     12.05       12.05       12.10        12.00
4-Months     11.85     12.05       12.10       12.15        12.04
5-Months     11.85     12.10       12.10       12.15        12.05
6-Months     11.85     12.10       12.05       12.15        12.04
9-Months     11.95     12.15       12.15       12.20        12.11
1-Year       12.00     12.20       12.20       12.25        12.16
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight    12.30     12.40       12.40       12.40        12.38
1-Week       11.60     12.15       12.10       12.25        12.03
2-Week       11.75     12.10       12.05       12.15        12.01
1-Month      11.80     12.10       12.05       12.15        12.03
2-Months     11.90     12.10       12.10       12.15        12.06
3-Months     12.00     12.15       12.15       12.20        12.13
4-Months     12.00     12.20       12.15       12.25        12.15
5-Months     12.00     12.25       12.15       12.30        12.18
6-Months     12.00     12.25       12.15       12.30        12.18
9-Months     12.10     12.25       12.20       12.30        12.21
1-Year       12.15     12.30       12.25       12.40        12.28
=================================================================