THE RUPEE: dollar inches up

Rates moved both ways on the currency market on Friday as the rupee fell versus dollar and it appreciated in terms of euro, dealers said. The rupee drifted lower against dollar, losing three paisa for buying and selling at 85.76 and 85.80, they said.
INTERBANK MARKET RATES: In the final session of Asian trade euro dropped to a four-month low versus a broadly firmer dollar on Friday ahead of US jobs data, which is expected to provide more evidence of a stronger US economic recovery. A sell-off in peripheral euro zone government bonds before a flurry of supply next week and an EU proposal that could force those who lend to banks to bear big losses should they fail helped knock the single currency lower.
The euro extended losses after sliding more than two percent over the two previous days and briefly dipped below support at the $1.2970 area -- lows hit in late November and early December. Indian rupee was trading at Rs 45.24 versus dollar, Malaysian ringgit was available at 3.0670 in relation to the US currency and Chinese yuan was at 6.6283 in terms of the greenback.
OPEN MARKET RATES: For the third day in a row, the rupee maintained it's overnight levels in relation to dollar for buying and selling at 85.70 and 85.90, they added. The rupee sustained its climb in terms of euro, rising Re.1 for buying and selling at Rs 110.90 and Rs 111.40, they said.

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Open Buying      Rs 85.76

Open Selling     Rs 85.80

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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.

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Buying           Rs 85.70

Selling          Rs 85.90

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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     11.25      12.75      11.50       13.00       12.13

1-Week        11.65      12.70      12.60       12.80       12.44

2-Week        11.70      12.80      12.80       12.90       12.55

1-Month       12.00      12.85      12.80       12.95       12.65

2-Months      12.25      13.00      12.90       13.10       12.81

3-Months      12.70      13.15      13.10       13.25       13.05

4-Months      12.70      13.15      13.10       13.25       13.05

5-Months      12.75      13.20      13.20       13.35       13.13

6-Months      13.25      13.40      13.30       13.45       13.35

9-Months      13.10      13.40      13.30       13.60       13.35

1-Year        13.25      13.50      13.40       13.60       13.44

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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     11.25      12.80      11.50       13.00       12.14

1-Week        12.25      12.80      12.60       12.90       12.64

2-Week        12.45      12.90      12.85       13.00       12.80

1-Month       12.50      12.95      12.95       13.05       12.86

2-Months      12.75      13.25      13.25       13.40       13.16

3-Months      12.90      13.40      13.25       13.50       13.26

4-Months      12.90      13.50      13.30       13.60       13.33

5-Months      13.00      13.50      13.40       13.75       13.41

6-Months      13.30      13.70      13.50       13.90       13.60

9-Months      13.25      13.60      13.50       13.90       13.56

1-Year        13.25      13.75      13.60       14.00       13.65

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RUPEE IN LAHORE: The Pak rupee remained under pressure as it lost 10-paisa on buying side (Rs 85.70) against the greenback in the local kerb on Friday.
According to the currency dealers, the dollar continued upward trend on account of surge in demand of the dollar. The dollar was traded at Rs 85.70 and Rs 85.86, as its buying and selling rates, as compared to overnight closing rates of Rs 85.60 and Rs 85.85, respectively, they maintained.
On the other hand, the pound-rupee parity remained unchanged in the local currency markets. The pound was purchased and sold at the overnight closing of Rs 132.30 and Rs 133.00, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Friday.The dollar resumed trading at Rs 85.55 (buying) and Rs 85.80 (selling) against the rate of Rs 86.20 (buying) and Rs 86.30 (selling). It did not observe further change in the evening session and closed at Rs 85.55 (buying) and Rs 85.80 (selling).
Pound Sterling opened at Rs 136.20 (buying) and Rs 136.70 (selling) in the morning session. It did not observe further change in the last trading hours and closed at Rs 136.20 (buying) and Rs 136.70 (selling).
Copyright Business Recorder, 2011