Banks' increased dollar buying pushed the rupee-dollar parity rates down and, according to experts, the rupee would face more erosion versus the dollar in the coming days.
In world markets, the dollar posted some gains following positive data in the US, dealers said.
OPEN MARKET RATES: The rupee did not show any change versus the dollar in open market for buying and selling at Rs 58.70 and Rs 58.75, dealers said.
The local currency managed to gain 25 paisa versus the euro for buying and selling at Rs 70.65 and Rs 70.95, they said.
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Kerb Buying Rs 58.70
Kerb Selling Rs 58.75
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Saturday.
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Buying Rs 58.45
Selling Rs 58.46
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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 2.00 4.50 2.50 5.00 3.50
1-Week 2.00 2.25 2.50 2.75 2.38
2-Week 1.75 2.00 2.25 2.50 2.13
1-Month 1.90 2.10 2.30 2.50 2.20
2-Months 2.00 2.20 2.40 2.60 2.30
3-Months 2.10 2.30 2.50 2.70 2.40
4-Months 2.20 2.40 2.60 2.80 2.50
5-Months 2.40 2.60 2.80 3.00 2.70
6-Months 2.70 2.90 3.10 3.30 3.00
9-Months 2.80 3.00 3.20 3.40 3.10
1-Year 3.00 3.20 3.40 3.60 3.30
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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 2.25 4.75 2.75 5.25 3.75
1-Week 2.25 2.50 2.75 3.00 2.63
2-Week 2.00 2.25 2.50 2.75 2.38
1-Month 2.10 2.30 2.50 2.70 2.40
2-Month 2.20 2.40 2.60 2.80 2.50
3-Month 2.30 2.50 2.70 2.90 2.60
4-Month 2.40 2.60 2.80 3.00 2.70
5-Month 2.60 2.80 3.00 3.20 2.90
6-Month 2.90 3.10 3.30 3.50 3.20
9-Month 3.10 3.30 3.50 3.70 3.40
1-Year 3.30 3.50 3.80 4.00 3.65
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RUPEE IN LAHORE: The dollar-rupee parity remained unchanged amid sluggish trading trend in the local currency markets on Saturday.
The demand and supply situation for dollars remained intact at overnight closing levels, which helped the rupee to maintain stability. The greenback trading commenced at Friday's levels of Rs 58.65 and Rs 58.75 on buying and selling sides, respectively. Its opening rates continued to prevail throughout the day. However, the greenback recorded fractional fluctuation in its rates, but finally closed at opening levels, the currency dealers said.
The rupee, however, improved its worth against the pound sterling. The pound's buying rate declined from previous closing of Rs 106.90 to Rs 106.80, while its selling rate moved down from Rs 107.20 to Rs 107.10, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi on Saturday.
The dollar opened at Rs 58.60 (buying) and Rs 58.70 (selling) against the last rate. It did not observe any further change in the second session, and closed at Rs 58.60 (buying) and Rs 58.70 (selling).
The pound sterling opened at Rs 108 (buying) and Rs 108.20 (selling) against the last rate. The British currency did not observe any further change in the second session, and closed at Rs 108 (buying) and Rs 108.20 (selling).
The Canadian dollar opened at Rs 43.50 (buying) and Rs 43.70 (selling) against the last rate. It did not observe any further change in the second session, and closed at Rs 43.50 (buying) and Rs 43.70 (selling).