KARACHI: Increased dollar buying pushed the rupee to touch the record low level after crossing 86 mark on both the open and interbank market on Friday, dealers said. The rupee lost seven paisa against dollar at 85.97 for buying and shed six paisa for selling at 86.01, they said. Some money experts said that the rupee may touch the new low level due to strong demand for dollars to meet the payments.
Malaysian ringgit was trading at 3.0965 versus dollar and Chinese yuan was available at 6.7060 in relation the greenback.
The rupee also slipped in relation to euro, losing 24 paisa for buying and selling at Rs 113.41 and Rs 113.91, they added.
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Open Buying Rs 85.97
Open Selling Rs 86.01
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Buying Rs 85.95
Selling Rs 86.15
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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 10.25 11.75 10.50 12.00 11.13
1-Week 11.30 12.05 11.75 12.10 11.80
2-Week 11.40 12.20 12.00 12.25 11.96
1-Month 11.60 12.30 12.25 12.35 12.13
2-Months 12.05 12.45 12.40 12.50 12.35
3-Months 12.25 12.50 12.45 12.60 12.45
4-Months 12.35 12.55 12.50 12.65 12.51
5-Months 12.40 12.60 12.50 12.75 12.56
6-Months 12.55 12.70 12.60 12.80 12.66
9-Months 12.60 12.75 12.70 12.85 12.73
1-Year 12.70 12.80 12.75 12.90 12.79
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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 10.25 11.75 10.50 12.00 11.13
1-Week 11.40 12.15 11.80 12.20 11.89
2-Week 11.60 12.25 12.00 12.30 12.04
1-Month 12.10 12.40 12.35 12.45 12.33
2-Months 12.25 12.70 12.50 12.75 12.55
3-Months 12.40 12.75 12.65 12.90 12.68
4-Months 12.40 12.90 12.70 13.00 12.75
5-Months 12.50 13.00 12.70 13.10 12.83
6-Months 12.50 13.10 12.80 13.25 12.91
9-Months 12.60 13.20 12.80 13.30 12.98
1-Year 12.70 13.25 12.80 13.35 13.03
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According to the currency dealers, the dollar witnessed fresh demand that kept the rupee under pressure in the local market. The dollar was traded at Rs 85.80 and Rs 86.00 on buying and selling side against the overnight closing of Rs 85.75 to Rs 85.90, respectively.
Similarly, the rupee failed to maintain its position and depreciated its value against the pound sterling. The pound's buying and selling rate, amid fresh buying, was improved from Thursday closing of Rs 133.50 and Rs 134.70 to Rs 134.00 and Rs 135.00, respectively, the dealers said.
The dollar resumed trading at Rs 84.75 (buying) and Rs 85.20 (selling) against the same last rate. It did not observe any change in the evening session and closed at Rs 84.70 (buying) and Rs 85.20 (selling) Pound Sterling opened at Rs 128.29 (buying) and Rs 132.12 (selling) against the previous rate of Rs 128.16 (buying) and Rs 132.02 (selling) .It did not observe further change in the last trading hours and closed at Rs 128.29 (buying) and Rs 132.12 (selling) UAE Dirham opened at Rs 22.88 (buying) and Rs 23.37 (selling) in the morning session against the same last rate Rs 22.88 (buying) and Rs 23.37 (selling). The value of Dirham against the rupee remained unchanged in evening session and closed at Rs 22.88 (buying) and Rs 23.37 (selling).