The rupee tumbled with the slight increase in demand for dollars by the leading banks, experts said, adding the pressure may build-up as payments are still in the pipeline.
All the major payments turned higher after global rise in oil prices, they said.
Currency analysts said the overall pressure might affect the exchange rate as well as expectedly the imports to grow faster than exports.
The rupee posted further five paisa gain against the single European currency for buying and selling at Rs 71.30 and Rs 71.60, respectively.
The dollar drifted lower in relation to the world currencies, dealers said.
INTERBANK RATES: In the absence of importers' buying, the rupee was enabled to hold its overnight levels versus the dollar in the interbank market on Thursday for buying and selling at Rs 58.67 and Rs 58.69, respectively.
Actually, the demand is suiting with supply, which did not allow the rupee to move any side in the absence of guiding factor, experts said, adding the second major factor is the market players, who are in a wait-and-see mood, ahead of the oath-taking of the new prime minister.
Market operators were expecting that under the circumstances, the new prime minister might take some tough and realistic measures to control the situation.
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Kerb Buying Rs 59.15
Kerb Selling Rs 59.20
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Thursday.
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Buying Rs 58.67
Selling Rs 58.69
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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 5.25 6.00 5.75 6.50 5.88
1-Week 3.25 3.50 3.75 4.00 3.63
2-Week 2.25 2.50 2.75 3.00 2.63
1-Month 1.90 2.00 2.10 2.20 2.05
2-Months 2.00 2.25 2.40 2.60 2.31
3-Months 2.10 2.25 2.35 2.50 2.30
4-Months 2.25 2.40 2.60 2.75 2.50
5-Months 2.30 2.60 2.75 3.00 2.66
6-Months 2.50 2.75 3.00 3.25 2.88
9-Months 2.75 3.00 3.25 3.50 3.13
1-Year 3.50 3.75 3.90 4.00 3.79
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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 5.50 6.25 6.00 6.75 6.13
1-Week 3.50 3.75 4.00 4.25 3.88
2-Week 2.50 2.75 3.25 3.50 3.00
1-Month 2.00 2.10 2.50 2.75 2.34
2-Month 2.20 2.40 2.60 2.75 2.49
3-Month 2.40 2.60 2.75 3.00 2.69
4-Month 2.50 2.75 2.75 3.00 2.75
5-Month 2.50 2.75 2.90 3.10 2.81
6-Month 2.75 3.00 3.25 3.50 3.13
9-Month 3.25 3.50 3.75 4.00 3.63
1-Year 3.50 3.75 4.00 4.25 3.88
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RUPEE IN LAHORE: The local currency showed stability, as dollar-rupee parity remained unchanged amid sluggish trading trend in the local currency markets on Thursday.
The dollar's demand and supply situation remained intact at overnight levels, therefore, there was no visible change in its worth. The greenback resumed trading at Wednesday's closing levels of Rs 59.22 and Rs 59.28 on buying and selling counters, respectively.
The dollar showed fractional movement of one-two paisa but finally closed at opening levels. Owing to lacking fluctuation in the dollar's value, the trading volume remained low, the currency dealers said.
However, the rupee marginally declined its worth against the pound sterling. The pound's buying rate increased from Wednesday's closing rate of Rs 106.20 to Rs 106.40, while selling rate remained unchanged at Rs 106.90, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 59.00 (buying) and Rs 59.10 (selling) against same overnight value. It did not observe any further change in the second session and closed at Rs 59.00 (buying) and Rs 59.10 (selling).
Pound sterling opened at Rs 106.90 (buying) and Rs 107.00 (selling) against same overnight value. It did not observe any further change in the second session and closed at Rs 106.90 (buying) and Rs 107.00 (selling).
Canadian dollar opened at Rs 45.00 (buying) and Rs 45.10 (selling) against same previous rate. It did not observe any further change in the second session and closed Rs 45.00 (buying) and Rs 45.10 (selling)