The "spot" market opened with the US dollar changing hands in the range of Rs 57.51 and Rs 57.53 as respective buying and selling rates.
Persistent demand for the US dollar kept the pressure on the local currency as it shed 1.0 paisa each in bid and offer at Rs 57.52 and Rs 57.54.
However by the end of the trading session the Pak rupee recovered, concluding the day unchanged on the opening levels at Rs 57.51 and Rs 57.53 as respective buying and selling rates.
In swap transactions, prices in the tenures up to 1-month eased off .1-week swap was dealt in the range of -3.5 paisa and -2.5 paisa.
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DAILY FOREX REPORT Monday (March 29, 2004)
SBP US $/PKR Parity: 46.00/.23
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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
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Outright 57.51 57.53 57.51 57.53 57.45 57.47 57.41 57.43 57.39 57.42 57.37 57.40 57.37 57.40 57.35 57.37
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SWAP
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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
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Paisa -0.75 -0.25 -3.50 -2.50 -7.00 -5.00 -11.00 -9.00 -13.00 -10.00 -15.00 -12.00 -15.00 -12.00 -17.00 -15.00
% Bid -0.59 0.47 -2.17 -1.27 -0.48 -0.06 -0.16 0.05 0.08 0.29 0.21 0.37 0.37 0.49 0.40 0.47
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