The rupee improved modestly on easy supply of dollar. Before, the Eid-ul-Azha, higher inflows from the overseas Pakistanis boosted the local currency and it seems that the rupee may maintain its firm posture in pre-and-post Eid holiday sessions, dealers said.
The rupee, however, lost 20 paisa versus the euro for buying and selling at Rs 70.75 and Rs 70.85.
Thanks to the expectations of the rise in the US interest rate, the dollar value versus the yen was strengthened in the world markets, dealers said.
INTERBANK RATES: The rupee was almost unmoved versus the dollar for buying and selling at 59.79 and 59.81, bankers said.
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Kerb Buying Rs 59.90
Kerb Selling Rs 60.00
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Wednesday.
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Buying Rs 59.79
Selling Rs 59.81
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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 3.00 7.00 3.50 8.00 5.38
1-Week 6.50 7.50 7.50 8.00 7.38
2-Week 7.00 7.50 7.75 8.00 7.56
1-Month 8.00 8.10 8.15 8.20 8.11
2-Months 8.00 8.20 8.20 8.30 8.18
3-Months 8.10 8.25 8.25 8.30 8.23
4-Months 8.15 8.30 8.30 8.40 8.29
5-Months 8.20 8.35 8.40 8.50 8.36
6-Months 8.20 8.35 8.40 8.60 8.39
9-Months 8.40 8.50 8.55 8.60 8.51
1-Year 8.50 8.55 8.60 8.70 8.59
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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 4.50 8.00 5.00 8.50 6.50
1-Week 7.25 8.50 8.00 9.00 8.19
2-Week 7.25 8.25 8.00 9.00 8.13
1-Month 8.50 9.00 9.00 9.75 9.06
2-Months 8.30 8.90 9.00 9.75 8.99
3-Months 8.60 9.25 9.00 9.75 9.15
4-Months 8.75 9.25 9.35 9.50 9.21
5-Months 8.90 9.25 9.25 9.50 9.23
6-Months 9.00 9.25 9.25 9.50 9.25
9-Months 9.00 9.50 9.50 10.00 9.50
1-Year 9.25 10.00 9.75 10.25 9.81
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RUPEE IN LAHORE: The rupee showed strength, as it improved its worth by 15-paisa in relation to the greenback in the local currency markets on Wednesday.
According to the currency dealers, the dollar remained under selling pressure, which helped the local currency recover its earlier loss. The dollar's trading commenced at Rs 59.85 and Rs 59.95 as its buying and selling rates, respectively. However, the dollar maintained declining trend and closed at Rs 59.80 and Rs 59.90 on buying and selling counters, respectively, against Rs 59.95 and Rs 60.05 of Tuesday, the dealers added.
On the contrary, the local currency remained further moved down against the pound sterling. The British pound was purchased at Rs 103.40 and was sold at Rs 104.80 as compared to Rs 103.30 and Rs 103.70 of Tuesday, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar-rupee parity remained unchanged at the open currency markets of twin cities of Islamabad and Rawalpindi on Wednesday.
The dollar opened at Rs 59.95 (buying) and Rs 60.05 (selling) against same last rate. It did not observe any further change by the end of second session and closed at Rs 59.95 (buying) and Rs 60.05 (selling).
The pound sterling opened at Rs 103.50 (buying) and Rs 103.75 (selling) against same last rate. It did not show any change in the evening session and closed at Rs 103.50 (buying) and Rs 103.75 (selling).