The "spot market" opened with the US dollar changing hands unchanged in the range of Rs 57.47 and Rs 57.49 as respective buying and selling rates.
Comfortable supply of the greenback in the market eroded the value of the US dollar as it shed 2.0 paisa each in bid and offer at Rs 57.45 and Rs 57.47. By the end of the trading session, due to declining demand for the US unit the local currency advanced further, gaining 1.0 paisa more versus the dollar at Rs 57.43 and Rs 57.45 as respective buying and selling rates.
In swap transactions, prices all the tenures remained stable. 1-week swap was dealt in the range of -1.75 paisa and -0.50 paisa.
==============================================================================================================================
DAILY FOREX REPORT Tuesday (February 10, 2004)
SBP US $/PKR Parity: 46.00/.23
==============================================================================================================================
US $/PKR Ready 1 Wk 1M 2M 3M 4M 5M R/6M
Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer
==============================================================================================================================
Outright 57.43 57.45 57.43 57.45 57.40 57.42 57.38 57.40 57.37 57.40 57.37 57.40 57.36 57.40 57.36 57.40
==============================================================================================================================
SWAP
==============================================================================================================================
O/N R/1 WK R/1 M R/2 M R/3 M R/4 M R/5 M R/6 M
Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer
==============================================================================================================================
Paisa -0.50 0.00 -1.75 -0.50 -4.00 -2.00 -6.00 -4.00 -7.00 -4.00 -7.00 -4.00 -8.00 -4.00 -8.00 -4.00
% Bid -2.18 1.00 -0.59 0.55 0.15 0.58 0.36 0.58 0.51 0.72 0.63 0.79 0.86 0.83 0.72 0.86
==============================================================================================================================