According to the market sources, all the trading centres reopened on Monday after observing Eid holidays. There was a rush for dollars as genuine players indulged in hectic buying to meet the near-term requirements.
The dollar was higher against the yen in the international markets, dealers said.
OPEN MARKET RATES: The rupee maintained its recovery versus the euro, gaining 75 paisa for buying and selling at Rs 70.20 and Rs 70.30, respectively.
Market sources said that the rupee continued its riding over the single European currency due to euro's persistent sliding against the major currencies in the world markets.
The rupee slipped versus the dollar on increased demand by the banks, losing 10 paisa for buying and selling at 59.75 and 59.85, moneychangers said.
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Kerb Buying Rs 59.75
Kerb Selling Rs 59.85
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Monday.
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Buying Rs 59.73
Selling Rs 59.74
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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 8.75 8.90 8.90 8.90 8.86
1-Week 8.65 8.75 8.80 8.90 8.78
2-Week 8.40 8.65 8.70 8.90 8.66
1-Month 8.40 8.45 8.55 8.65 8.51
2-Months 8.35 8.50 8.50 8.60 8.49
3-Months 8.35 8.50 8.50 8.65 8.50
4-Months 8.35 8.50 8.55 8.65 8.51
5-Months 8.40 8.50 8.55 8.70 8.54
6-Months 8.40 8.55 8.60 8.70 8.56
9-Months 8.45 8.60 8.65 8.75 8.61
1-Year 8.50 8.60 8.75 8.85 8.68
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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 9.00 9.50 9.50 10.00 9.50
1-Week 8.90 9.25 9.50 10.00 9.41
2-Week 8.75 9.25 9.50 9.75 9.31
1-Month 8.75 9.00 9.25 9.50 9.13
2-Months 8.60 9.25 9.25 9.75 9.21
3-Months 8.75 9.50 9.00 9.90 9.29
4-Months 8.75 9.50 9.00 10.00 9.31
5-Months 8.80 9.60 9.25 10.00 9.41
6-Months 8.75 9.75 9.15 10.00 9.41
9-Months 8.80 9.75 9.35 10.00 9.48
1-Year 9.10 10.00 9.70 10.20 9.75
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RUPEE IN LAHORE: After four Eid holidays, the rupee opened the week on a negative note, as it lost its value by 15-paisa in relation to the greenback in the local currency markets.
According to the currency dealers, the rate of greenback had substantially went down prior to closure of local kerb on account of Eid-ul-Fitr. As soon as market resumed business on Monday, the dollar witnessed significant demand, which pushed the local currency value down. The dollar commenced trading at Rs 59.70 and Rs 59.80 as its buying and selling rates, respectively and kept moving upward throughout the day. At the end of trading, the dollar closed higher at Rs 59.80 and Rs 59.90 on buying and selling counters, respectively, as against Rs 59.65 and Rs 59.75 of Wednesday, the dealers added.
On the contrary, the local currency maintained previous week's rising trend and further appreciated its worth against the pound sterling. The pound's buying rate declined from previous closing of Rs 104.60 to Rs 104.20, while selling rate moved down from Rs 105.00 to Rs 104.70, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar showed an increase of 30 paisa against the rupee in the open currency markets of Islamabad and Rawalpindi on Monday.
The greenback opened at Rs 59.80 (buying) and Rs 59.90 (selling) against the last week's rate of Rs 59.50 (buying) and Rs 59.70 (selling). It did not observe any further change in the second spell, and closed at Rs 59.80 (buying) and Rs 59.90 (selling).
Pound sterling opened at Rs 104.30 (buying) and Rs 104.70 (selling) against last week's rate of Rs 105.30 (buying) and Rs 106 (selling). It also did not observe any further change, and closed at Rs 104.30 (buying) and Rs 104.70 (selling).