THE RUPEE: euro sharply up

The rupee was sharply lower against euro, while it showed mixed trend versus dollar on the currency market on Friday, dealers said. The rupee maintained its upward trend against dollar, rising 10 paisa for buying and selling at 85.56 and 85.60, they said.
INTER-BANK MARKET RATES: In the final Asian trading session euro succumbed to light profit-taking, a day after staging its biggest surge in six months on solid debt sales by Spain and tough talk on inflation by the chief of the European Central Bank.
Speculation that European policy-makers may top up their war chest against attacks on euro zone sovereign debt is adding fuel to short-covering even though many market players suspect worries about the solvency of peripheral euro zone members will persist. Indian rupee was trading at Rs 45.15 versus dollar, Malaysian ringgit was available at 3.0625 in relation to the greenback and Chinese yuan was at 6.609 in relation to the US currency.
OPEN MARKET RATES: The rupee did not show any variation versus the US currency for buying at 85.90 while it shed five paisa for selling at 86.10, they added. The rupee continued its fall, losing another Rs 1.90 for buying and selling at Rs 114.45 and Rs 114.95, they said.

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Open Buying      Rs 85.56

Open Selling     Rs 85.60

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

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Buying           Rs 85.90

Selling          Rs 86.10

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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    12.60       13.90      12.80       13.90       13.30

1-Week       11.70       12.90      12.80       13.00       12.60

2-Week       11.75       12.85      12.85       12.90       12.59

1-Month      11.90       12.90      12.90       13.00       12.68

2-Months     12.25       13.10      13.00       13.20       12.89

3-Months     12.70       13.15      13.15       13.30       13.08

4-Months     12.70       13.20      13.20       13.30       13.10

5-Months     12.75       13.25      13.25       13.40       13.16

6-Months     13.25       13.45      13.30       13.50       13.38

9-Months     13.25       13.60      13.60       13.75       13.55

1-Year       13.35       13.65      13.70       13.80       13.63

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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    12.60       13.90     12.80       13.90        13.30

1-Week       12.10       13.00     12.90       13.25        12.81

2-Week       12.25       13.10     13.00       13.25        12.90

1-Month      12.40       13.20     12.95       13.25        12.95

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     13.65       13.90        13.64

9-Months     13.30       13.75     13.70       13.90        13.66

1-Year       13.40       13.80     13.75       13.90        13.71

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RUPEE IN LAHORE: The rupee-dollar parity remained unchanged for the third consecutive day in Lahore currency market on Friday.
According to dealers, dollar's supply and demand situation remained unchanged. The dollar was purchased and sold at overnight rates of Rs 86.00 and Rs 86.20, respectively, dealers said.
The rupee remained under pressure in relation to pound sterling. The pound was purchased and sold at Rs 135.20 and Rs 136.00 as compared to overnight closing rates at Rs 134.50 and Rs 135.50, respectively, they 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 85.50 (buying) and Rs 85.80 (selling) against last 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 85.50 (buying) and Rs 85.80 (selling).
Pound Sterling opened at Rs 136.30 (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 136.30 (buying) and Rs 136.70 (selling).
Copyright Business Recorder, 2011