Home »Money and Banking » Pakistan » Rupee » THE RUPEE: euro headed to cross Rs 74 mark

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  • Jan 11th, 2004
  • Comments Off on THE RUPEE: euro headed to cross Rs 74 mark
The euro at the weekend gained 53 paisa at Rs 73.53 and Rs 73.83 for buying and selling, respectively, and was headed to cross Rs 74 mark in the kerb market on Saturday.

According to some moneychangers, if the single European currency maintained its surge versus major currencies in world markets, it could touch new high at Rs 74 here in the coming days.

They said that the euro was still on the higher side and it might cross 1.30 dollar mark.

The rupee showed mixed trend in terms of the greenback for buying and selling at Rs 57.48 and Rs 57.53 in the modest activity.

In the world markets, the dollar declined sharply against the euro.

INTER-BANK RATES: The rupee shed two paisa in inter-bank market versus the dollar for buying and selling at Rs 57.48 and Rs 57.49, respectively.





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Kerb buying Rs 57.48

Kerb selling Rs 57.53

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





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Buying Rs 57.48

Selling Rs 57.49

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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 0.50 3.50 1.00 4.00 2.25

1-Week 0.75 2.50 1.25 3.50 2.00

2-Week 1.25 2.00 1.75 2.50 1.88

1-Month 1.20 1.40 1.60 1.80 1.50

2-Month 1.25 1.50 1.75 2.00 1.63

3-Month 1.35 1.60 1.75 2.00 1.68

4-Month 1.20 1.40 1.60 1.80 1.50

5-Month 1.40 1.60 1.80 2.00 1.70

6-Month 1.50 1.70 1.90 2.10 1.80

9-Month 1.70 1.90 2.10 2.30 2.00

1-Year 2.00 2.20 2.40 2.60 2.30

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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 0.75 4.00 1.25 4.25 2.56

1-Week 1.00 2.75 1.50 3.75 2.25

2-Week 1.50 2.25 2.00 2.75 2.13

1-Month 1.30 1.50 1.70 1.90 1.60

2-Month 1.30 1.50 1.75 2.00 1.64

3-Month 1.40 1.60 1.80 2.00 1.70

4-Month 1.30 1.50 1.70 1.90 1.60

5-Month 1.50 1.75 2.00 2.25 1.88

6-Month 1.60 1.80 2.00 2.20 1.90

9-Month 1.80 2.00 2.20 2.40 2.10

1-Year 2.10 2.25 2.40 2.50 2.31

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RUPEE IN LAHORE: The rupee showed stability, and remained unchanged versus the greenback, while continued to move down against the pound sterling on the local currency markets on Saturday.

There was no visible change in dollar's demand, and the supply situation, which provided stability to the rupee. The dollar resumed trading at overnight closing levels of Rs 57.55 and Rs 57.65 on buying and selling counters, respectively. The opening rates continued to prevail throughout the day. In the absence of any fluctuation in the dollar's value, trading trend remained sluggish, the currency dealers said.

On the contrary, the rupee remained under pressure, and maintained downward trend in relation to the British currency. The pound's buying rate increased from Friday's closing level of Rs 105.10 to Rs 105.95, and the selling rate changed from Rs 105.50 to Rs 106.30, the dealers added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The buying and selling rates of dollar in rupee terms remained unchanged at the currency markets of Islamabad and Rawalpindi on Saturday.

The dollar opened at the buying and selling rates of Rs 57.35 and Rs 57.45 against same previous day's rates. It did not observe any further change and buying and selling rates closed at Rs 57.35 and Rs 57.45, respectively.

Pound sterling opened at the buying and selling rates of Rs 105 and Rs 105.10 against same previous rates. It did not observe any further change in the evening session and buying and selling rates closed at Rs 105 and Rs 105.10 respectively.

Copyright Business Recorder, 2004


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