The "spot" market opened with the US dollar changing hands in the range of PKR 57.50 and PKR 57.52 as respective buying and selling rates.
Panic buying in the morning session considerably eroded the value of the local currency as it shed 3.0 paisa in bid and 2.0 paisa in offer at PKR 57.53 and PKR 57.54. However by the end of trading session the Pak rupee recovered early losses versus the Greenback, concluding the day unchanged on a firm note at PKR 57.51 and PKR 57.53 as respective buying and selling rates.
In swap transactions, prices in longer tenures eased off marginally. 1-month swap was dealt in the range of -7.5 paisa and -5.5 paisa.
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DAILY FOREX REPORT Tuesday (March 30, 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 57.40 57.43 57.39 57.42 57.37 57.40 57.37 57.40 57.34 57.36
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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 -7.50 -5.50 -12.00 -9.50 -13.50 -10.00 -15.00 -12.00 -15.00 -12.00 -18.00 -16.00
% Bid -3.76 -0.59 -2.17 -1.27 -0.59 -0.16 -0.27 0.00 0.05 0.29 0.21 0.37 0.37 0.49 0.37 0.44
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