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  • Feb 4th, 2005
  • Comments Off on THE RUPEE: 10 paisa fall in open market
The rupee on Thursday has failed to hold its overnight firmness in relation to the dollar in the open market, losing ten paisa for buying and selling at 59.45 and 59.55, dealers said. Commenting on the fresh decline in the rupee's value, dealers said that the dollar supply was tight and importers were still busy in purchasing the US currency to meet the payment requirements. In fact, currently, the dollar had managed to show slight recovery in the world markets, against the major currencies ahead of Group of Seven (G-7) meeting, this factor has boosted its value locally as well, money experts said.

The rupee, however, posted fresh gain of 35 paisa in terms of the euro for buying and selling at Rs 77.35 and Rs 77.65 after sliding its value in the overseas market versus the dollar.

INTERBANK RATES: The rupee improved with marginal gain in the interbank market against the dollar for buying and selling at 59.33 and 59.35, respectively.





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Kerb Buying Rs 59.45

Kerb Selling Rs 59.55

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





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Buying Rs 59.33

Selling Rs 59.35

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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 0.50 1.50 0.75 2.00 1.19

1-Week 2.75 3.00 3.50 3.75 3.25

2-Week 3.50 3.75 4.25 4.50 4.00

1-Month 4.50 5.00 5.00 5.25 4.94

2-Months 4.60 5.10 5.20 5.40 5.08

3-Months 4.50 5.50 5.00 5.75 5.19

4-Months 4.75 5.50 5.25 5.75 5.31

5-Months 5.00 5.60 5.40 5.80 5.45

6-Months 5.25 5.75 5.50 6.00 5.63

9-Months 5.40 5.80 5.75 6.00 5.74

1-Year 5.75 6.00 6.25 6.50 6.13

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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 1.00 2.00 1.50 3.00 1.88

1-Week 5.00 5.50 6.00 6.50 5.75

2-Week 4.50 5.00 5.50 5.75 5.19

1-Month 5.50 5.75 6.00 6.50 5.94

2-Month 5.60 5.80 6.20 6.60 6.05

3-Month 6.00 6.50 6.75 7.00 6.56

4-Month 6.25 6.50 6.80 7.10 6.66

5-Month 6.40 6.60 7.00 7.20 6.80

6-Month 6.75 6.90 7.00 7.25 6.98

9-Month 6.90 7.10 7.20 7.30 7.13

1-Year 7.00 7.10 7.25 7.40 7.19

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RUPEE IN LAHORE: The rupee remained unchanged on buying side at Rs 59.40, while improved its worth by five-paisa on selling side at Rs 59.45 in relation to the greenback in the local currency markets on Thursday.

According to currency dealers, there was no visible change in dollar's demand and supply situation, which provided stability to the local currency. The dollar resumed trading at Rs 59.40 and Rs 59.45 on buying and selling counters, respectively. The dollar registered fractional fluctuation in its value during the entire day's trading but finally closed at Rs 59.40 and Rs 59.45 on buying and selling sides, respectively, the dealers added.

Likewise, the local currency also showed stability and remained unchanged against the pound sterling. The British pound was purchased at Wednesday's closing level of Rs 112.00 and Rs 112.35 on buying and selling counters, respectively, the dealers added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 15 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi on Thursday.

The dollar opened at Rs 59.40 (buying) and Rs 59.50 (selling) against last rate of Rs 59.25 (buying) and Rs 59.35 (selling). It did not observe any further change in the evening session and closed at Rs 59.40 (buying) and Rs 59.50 (selling).

Pound sterling opened at Rs 112.10 (buying) and Rs 112.20 (selling) against last rate of Rs 111.80 (buying) and Rs 111.90 (selling). It did not observe any change in the second spell and closed at Rs 112.10 (buying) and Rs 112.20 (selling).

Copyright Business Recorder, 2005


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