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  • Feb 1st, 2005
  • Comments Off on THE RUPEE: range-bound trading in currency market
General trend in the open market was bearish as the rupee tended lower versus the dollar on Monday, shedding five paisa on the buying and selling counters at 59.30 and 59.40, respectively. Slight pressure over the dollars' buying pushed the rates down in the open market, moneychangers said adding that the local currency might show changes in the near terms. The euro slipped from the weekend levels, giving up five paisa versus the rupee for buying and selling at Rs 77.25 and Rs 77.40, dealers said.

In the world markets, the dollar inched up following the expectations of rising US interest rates and several positive developments, overseas dealers said.

INTERBANK RATES: The rupee did not show any change for buying at Rs 59.32 while it lost four paisa for selling at Rs 59.38, marketmen said.





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Kerb Buying Rs 59.30

Kerb Selling Rs 59.40

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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Monday.





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Buying Rs 59.32

Selling Rs 59.38

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Repo Rates (Yield p a)

-----------------------------------------------------------------

Tenor Low Bid High Bid Low Offer High Offer Average

=================================================================

Overnight 3.00 6.00 4.00 6.50 4.88

1-Week 5.00 5.50 6.00 6.50 5.75

2-Week 4.75 5.25 5.25 5.50 5.19

1-Month 5.25 5.50 6.00 6.25 5.75

2-Months 5.25 5.50 5.75 6.00 5.63

3-Months 5.20 5.40 5.60 5.90 5.53

4-Months 5.15 5.55 5.65 5.85 5.55

5-Months 5.00 5.40 5.60 5.90 5.48

6-Months 5.00 5.50 5.75 6.00 5.56

9-Months 5.00 5.25 5.70 5.90 5.46

1-Year 5.75 6.25 6.50 6.75 6.31

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Call Rates (Yield p a)

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Tenor Low Bid High Bid Low Offer High Offer Average

=================================================================

Overnight 5.00 6.00 6.00 7.00 6.00

1-Week 5.50 6.00 6.50 7.00 6.25

2-Week 6.00 6.50 6.75 6.90 6.54

1-Month 5.75 6.00 6.50 6.75 6.25

2-Month 5.90 6.20 6.60 6.80 6.38

3-Month 5.75 6.25 6.50 6.75 6.31

4-Month 5.50 5.75 5.90 6.25 5.85

5-Month 5.75 6.00 6.25 6.50 6.13

6-Month 6.00 6.50 6.75 6.90 6.54

9-Month 6.00 6.25 6.50 6.75 6.38

1-Year 6.50 6.75 7.00 7.25 6.88

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RUPEE IN LAHORE: The dollar-rupee parity remained unchanged amid sluggish trading trend in the local currency markets on Monday.

According to currency dealers, there was no change in the dollar's demand and supply situation, which provided stability to the local currency.

The dollar resumed trading at Saturday's closing levels of Rs59.30 and Rs59.40 on buying and selling counters, respectively.

During the day's trading, the dollar witnessed fractional change of one-two paisa in its worth but finally closed at the opening rates, dealers said.

However, the Pak rupee remained firm and appreciated its worth against the pound sterling. The British pound was purchased at Rs112 and was sold at Rs112.25 as compared to Rs112.10 and Rs112.40 of Saturday, dealers added.

RUPEE IN ISLAMABAD AND RAWALPINDI: Buying and selling rates of dollar remained unchanged in the open currency markets of Islamabad and Rawalpindi on Monday.

The dollar opened at the same last quoted rates of Rs59.15 (buying) and Rs59.25 (selling). It did not observe any further change in the evening session and closed at Rs59.15 (buying) and Rs59.25 (selling).

Pound Sterling opened at Rs111.80 (buying) and Rs111.90 (selling) against the same overnight value. It did not observe any change in the second spell and closed at Rs111.80 (buying) and Rs111.90 (selling).

Copyright Business Recorder, 2005


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