The yen was hobbled by last week's data that showed Japan was in a recession for the best part of 2004, while traders sided with currencies like the Australian dollar, which was boosted by expectations for rising interest rates.
OPEN MARKET RATES: The rupee did not move sharply versus the dollar in the open market for buying at 59.60 but made small gain of five paisa in aelling at 59.70.
Rising demand for dollars pushed the rupee value down versus the US currency ahead of the long week-end, dealers said.
The rupee gained slightly in relation to the euro for buying and selling at Rs 77.70 and Rs 78.00, dealers said.
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Kerb Buying Rs 59.60
Kerb Selling Rs 59.70
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Monday.
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Buying Rs 59.32
Selling Rs 59.34
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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 1.50 2.00 2.00 3.00 2.13
1-Week 2.75 3.00 3.00 3.50 3.06
2-Week 3.00 3.25 3.75 4.00 3.50
1-Month 4.25 4.50 4.75 5.00 4.63
2-Months 4.30 4.60 4.75 5.10 4.69
3-Months 4.50 4.75 4.75 5.25 4.81
4-Months 4.50 4.90 5.00 5.50 4.98
5-Months 4.60 5.00 5.10 5.50 5.05
6-Months 4.75 5.00 5.50 5.75 5.25
9-Months 4.90 5.10 5.70 6.00 5.43
1-Year 5.25 5.50 6.00 6.25 5.75
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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 2.00 2.50 2.00 3.00 2.38
1-Week 3.00 3.25 3.50 3.75 3.38
2-Week 3.50 3.75 4.00 4.25 3.88
1-Month 4.50 4.75 4.75 5.00 4.75
2-Month 4.75 5.00 5.25 5.50 5.13
3-Month 5.00 5.25 5.75 6.25 5.56
4-Month 5.20 5.40 5.90 6.25 5.69
5-Month 5.25 5.50 6.00 6.40 5.79
6-Month 5.50 5.75 6.25 6.50 6.00
9-Month 5.75 6.25 6.50 7.00 6.38
1-Year 5.75 6.00 6.80 7.20 6.44
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RUPEE IN LAHORE: The rupee remained strong and marginally improved its worth by five paisa in relation to the greenback in the local currency markets on Monday.
According to the currency dealers, the dollar resumed trading at Rs 59.50 and Rs 59.60 on buying and selling counters, respectively, against Rs 59.55 and Rs 59.65 of Friday. During the day's trading, the dollar witnessed fractional change in its value, but finally closed at the opening levels, the dealers added.
On the contrary, the rupee remained under pressure, and lost its worth against the pound sterling. The pound's buying rate improved from last Friday's closing rate of Rs 112.70 to Rs 112.90, while its selling rate increased from Rs 113.00 to Rs 113.30, they said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar in the currency exchange establishments of Islamabad and Rawalpindi on Monday.
The dollar opened at Rs 59.55 (buying) and Rs 59.65 (selling) against the last rate. It did not observe any further change in the second spell, and closed at Rs 59.55 (buying) and Rs 59.65 (selling).
Pound sterling opened at Rs 112.70 (buying) and Rs 112.90 (selling) against the last rate of Rs 112.10 (buying) and Rs 112.50 (selling). It did not observe any change in the second spell, and closed at Rs 112.70 (buying) and Rs 112.90 (selling).