As a result of increase in the inflows by the overseas Pakistanis, boosted the rupee against dollar on the currency market on Wednesday, dealers said. The rupee shrugged of the overnight weakness in relation to dollar, recovering 24 paisa for buying at 86.54 and picked up 22 paisa for selling at 86.58, they said.
In fact, so strong was demand for safe-haven government bonds that yields were driven to the lowest since mid-2009. Yields on the Australian 10-year paper sank below the 4.75 percent cash rate to a low of 4.58 percent, an inversion often associated with recession fears.
Interbank buy/sell rates for taka against dollar on Wednesday: 74.71/74.72 (previous 74.7200/74.7350) Call Money Rates: 7.00-10.00 percent (previous 7.00-12.00 percent). The yuan rose slightly versus dollar on Wednesday even after the People's Bank of China set a weaker mid-point, as the Chinese currency's upward path appears intact amid volatility in dollar while the United States struggles with its debt woes. Indian rupee was trading at Rs 44.27 versus dollar and Malaysian ringgit was 2.9765 in terms of the greenback.
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Open Buying Rs 86.00
Open Selling Rs 86.20
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Buying Rs.86.54
Selling Rs.86.58
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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 13.25 13.40 13.30 13.40 13.34
1-Week 12.90 13.20 13.20 13.25 13.14
2-Week 13.95 13.15 13.15 13.20 13.36
1-Month 12.85 13.10 13.15 13.20 13.08
2-Months 12.90 13.20 13.15 13.25 13.13
3-Months 12.95 13.20 13.20 13.25 13.15
4-Months 13.00 13.15 13.20 13.25 13.15
5-Months 13.00 13.20 13.20 13.30 13.18
6-Months 13.00 13.20 13.20 13.30 13.18
9-Months 13.10 13.25 13.25 13.35 13.24
1-Year 13.15 13.30 13.30 13.40 13.29
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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 13.25 13.40 13.30 13.40 13.34
1-Week 13.00 13.20 13.20 13.30 13.18
2-Week 13.00 13.25 13.20 13.30 13.19
1-Month 13.00 13.20 13.20 13.25 13.16
2-Months 13.00 13.25 13.20 13.30 13.19
3-Months 13.05 13.25 13.20 13.30 13.20
4-Months 13.10 13.30 13.25 13.35 13.25
5-Months 13.10 13.30 13.30 13.35 13.26
6-Months 13.15 13.35 13.30 13.40 13.30
9-Months 13.15 13.35 13.35 13.40 13.31
1-Year 13.15 13.40 13.40 13.50 13.36
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According to moneychangers, the dollar was traded at Rs 86.10 and Rs 86.30 as its buying and selling rates against overnight Rs 86.15 and Rs 86.35, respectively.
However, the rupee slid down against pound sterling, which was purchased and sold at Rs 140.80 and Rs 141.50 as compared to Tuesday's Rs 140.10 and Rs 141.00 respectively, the moneychangers said.
The dollar resumed trading at Rs 86.00 (buying) and Rs 86.30 (selling) against same last rates. It did not observe further change in the second session and closed at Rs 86.00 (buying) and Rs 86.30 (selling).
Pound sterling opened at Rs 138.30 (buying) and Rs 138.45 (selling) against same overnight values. It did not observe further change in the evening session and closed at Rs 138.30 (buying) and Rs 138.45 (selling).