According to market sources, due to long holiday in the world markets, the dollars supply shrunk in the local market.
The local currency gained 10 paisa versus the euro for buying and selling at Rs 72.00 and Rs 72.30.
The dollar erosion versus the yen halted in the overseas markets but it failed to do so versus the euro and lost significantly amid subdued trading, dealers said.
INTER-BANK RATES: The rupee lost two paisa against the dollar in the inter-bank market for buying and selling at Rs 57.41 and Rs 57.43, respectively.
Market men said that due to international markets closure dollar supply was tight which forced the rupee to tumble with modest fall. They said that as world markets would re-open the rupee would recover its lost ground.
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Kerb Buying Rs 57.42
Kerb Selling Rs 57.47
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Saturday.
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Buying Rs 57.41
Selling Rs 57.43
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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 0.10 0.40 0.30 0.60 0.35
1-Week 0.40 0.70 0.90 1.20 0.80
2-Week 1.00 1.20 1.40 1.60 1.30
1-Month 1.40 1.60 1.80 2.00 1.70
2-Month 1.40 1.60 1.80 2.00 1.70
3-Month 1.50 1.70 1.90 2.10 1.80
4-Month 1.60 1.80 2.00 2.20 1.90
5-Month 1.70 1.90 2.10 2.30 2.00
6-Month 1.80 2.00 2.20 2.40 2.10
9-Month 2.10 2.30 2.50 2.70 2.40
1-Year 2.25 2.50 2.75 3.00 2.63
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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 0.20 0.50 0.40 0.70 0.45
1-Week 0.50 0.80 1.00 1.30 0.90
2-Week 1.20 1.40 1.60 1.80 1.50
1-Month 1.60 1.80 2.00 2.20 1.90
2-Month 1.60 1.80 2.00 2.20 1.90
3-Month 1.70 1.90 2.10 2.30 2.00
4-Month 1.80 2.00 2.20 2.40 2.10
5-Month 1.90 2.20 2.30 2.50 2.23
6-Month 2.00 2.20 2.40 2.60 2.30
9-Month 2.20 2.40 2.60 2.80 2.50
1-Year 2.50 2.75 3.00 3.25 2.88
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RUPEE IN LAHORE: The rupee closed the week on a negative note, as it registered a loss of two-paisa in relation to the greenback amid sluggish trading trend on the local currency markets.
Owing to the demand of the dollar, the rupee could not sustain and lost its value on the weekend. The dollar commenced trading at Friday's closing level of Rs 57.30 and Rs 57.38 on buying and selling counters, respectively. Till the end of trading, the dollar moved up and closed at Rs 57.32 and Rs 57.40 on buying and selling sides, respectively, the dealers said.
Similarly, the British pound appreciated its value against the rupee. The pound was purchased at Rs 102.50 and sold at Rs 102.80 as compared with the overnight closing rates of Rs 102.20 and Rs 102.90, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar on the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar opened at the buying and selling rates of Rs 57.25 and Rs 57.35 against the same last rates. It did not observe any further change in the second spell and buying and selling rates closed at Rs 57.25 and Rs 57.35, respectively.
Pound sterling opened at the buying and selling rates of Rs 102 and Rs 102.20 against the same previous rates. It did not show any further change in the evening spell and buying and selling rates closed at Rs 102 and Rs 102.20, respectively.