THE RUPEE: dollar rising continues


Down trend persisted in the interbank market on Monday as the rupee extended its week-end’s fall versus the dollar, shedding six paisa for buying and selling at 60.05 and 60.07, respectively.
Buying pressure over the dollar and closure of global markets, made the rupee unable to retain its firmness. But the rupee is likely to regain its value after the improvement in the inflows of dollar, they said.
In the international market, the dollar managed to gain versus the yen and euro on rising expectations about the increase in the interest rates by the Federal Reserves bank in its meeting next month.
OPEN MARKET RATES: Same trend was mirrored in the open market as the rupee shed five paisa in relation to the greenback for buying and selling at 60.45 and 60.50, respectively.
The rupee also shed 15 paisa versus the euro for buying and selling at Rs 76.50 and Rs 76.68, moneychangers said.



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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Monday.



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Buying Rs 60.05
Selling Rs 60.07
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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 8.75 8.90 8.80 8.90 8.84
1-Week 8.80 8.90 8.90 8.95 8.89
2-Weeks 8.75 8.85 8.90 8.95 8.86
1-Month 8.70 8.85 8.85 8.95 8.84
2-Months 8.65 8.75 8.75 8.80 8.74
3-Months 8.65 8.80 8.70 8.85 8.75
4-Months 8.65 8.75 8.75 8.80 8.74
5-Months 8.65 8.75 8.75 8.80 8.74
6-Months 8.65 8.75 8.80 8.85 8.76
9-Months 8.70 8.80 8.80 8.90 8.80
1-Year 8.75 8.80 8.85 8.90 8.83
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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 8.90 9.10 8.95 9.20 9.04
1-Week 8.90 9.15 9.10 9.30 9.11
2-Weeks 8.90 9.20 9.00 9.30 9.10
1-Month 9.00 9.25 9.25 9.50 9.25
2-Months 9.00 9.50 9.25 9.60 9.34
3-Months 9.25 9.60 9.50 9.75 9.53
4-Months 9.30 9.50 9.50 9.75 9.51
5-Months 9.35 9.60 9.50 9.80 9.56
6-Months 9.35 9.60 9.55 9.80 9.58
9-Months 9.50 10.00 9.80 10.25 9.89
1-Year 9.60 10.00 9.80 10.25 9.91
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RUPEE IN LAHORE: The dollar-rupee parity remained unchanged amid sluggish trading trend in the local currency markets on Monday.
According to the currency dealers, there was no change in dollar’s demand and supply situation, which helped the local currency maintain its Saturday closing levels. The dollar resumed trading at Saturday’s closing rates of Rs 60.55 and Rs 60.65 on buying and selling sides, respectively. The dollar recorded fractional change in its worth during the day’s trading but finally closed at the opening levels, the dealers added.
However, the local currency showed strength and appreciated its value against the pound sterling. The pound’s buying rate declined from previous week closing rate of Rs 113.25 to Rs 112.80, while selling rate moved down from Rs 113.50 to Rs 113.30, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar-rupee parity remained unchanged in the open currency markets of Islamabad and Rawalpindi on Monday.
The greenback opened at Rs 60.35 (buying) and Rs 60.45 (selling) against the last rate. It did not observe any further change, and closed at Rs 60.35 (buying) and Rs 60.45 (selling).
Pound sterling opened at Rs 113 (buying) and Rs 113.20 (selling) against the last week’s rate. It did not witness any further change, and closed at Rs 113 (buying) and Rs 113.20 (selling).

Copyright Business Recorder, 2006

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