THE RUPEE: dollar down

The rupee recovered on the currency market on Tuesday as demand was matching with supply in process of trading, dealers said. The rupee gained nine paisa against dollar for buying at 85.90 and rose by 11 paisa for selling at 85.93, they said.
INTERBANK MARKET RATES: In the second Asian trade euro held firm near a two-month peak, showing only the barest signs of fatigue after a rally in the past two weeks, as climbing euro zone interest rates prompted speculators to bet on further gains in the currency.
The Australian dollar fell broadly after lower-than-expected consumer inflation data reinforced market expectations that Australia's central bank will be in no hurry to lift interest rates, though it cut much of its losses in late Asian trade.
The single currency last traded at $1.3650, having risen as high as $1.3685, just one pip off a two-month peak marked in New York on Monday.
The move brings into play the next major resistance level, at $1.3742, a 61.8 percent re-tracement of the Nov-Jan fall, and then the euro's November 22 high of $1.3786.
China's yuan steadied versus dollar, hovering near its record trading high, after the People's Bank of China set the mid-point at a new peak but up only slightly from Monday's fixing, traders said.
The Indian rupee strengthened, supported by euro's gains against dollar and firmer local stocks. At 10:30 am (0500 GMT), the partially convertible rupee was at 45.48/49 per dollar, 0.4 percent above its close of 45.67/68 on Monday.
OPEN MARKET RATES: The rupee shed five paisa against dollar for buying at 86.15 while it managed to hold it overnight level for selling at 86.30, they added.
The rupee continued its fall against euro for buying and selling at Rs 116.85 and Rs 117.35, they said.

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Buying           Rs 85.90

Selling          Rs 85.93

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

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Buying           Rs 86.15

Selling          Rs 86.30

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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     12.75      13.35       12.90       13.50      13.13

1-Week        11.60      12.85       12.85       12.90      12.55

2-Week        11.75      12.95       12.95       13.05      12.68

1-Month       11.90      13.00       12.95       13.05      12.73

2-Months      12.45      13.10       13.10       13.25      12.98

3-Months      12.90      13.25       13.20       13.40      13.19

4-Months      13.00      13.30       13.20       13.40      13.23

5-Months      13.10      13.35       13.25       13.50      13.30

6-Months      13.35      13.45       13.40       13.55      13.44

9-Months      13.40      13.60       13.60       13.75      13.59

1-Year        13.45      13.65       13.70       13.80      13.65

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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     12.75      13.40       12.90       13.50      13.14

1-Week        12.25      13.00       12.85       13.10      12.80

2-Week        12.30      13.10       13.00       13.25      12.91

1-Month       12.40      13.20       12.90       13.30      12.95

2-Months      12.75      13.30       13.25       13.40      13.18

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 Pak rupee showed stability and remained unchanged in relation to greenback in the local currency market on Tuesday.
According to the moneychangers, the dollar's supply and demand situation remained intact to the last level that helped the local currency to maintain its worth. The dollar was traded at overnight closing rates of Rs 86.00 and Rs 86.20, as its buying and selling rates, respectively, they said.
On the other hand, the rupee showed strength against the pound sterling amid low trading activity. The pound was purchased and sold at Rs 136.00 and Rs 137.00, as compared to overnight closing of Rs 136.50 and Rs 137.50, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar showed an improvement of 30 paisa against the rupee at the currency exchange establishments of Islamabad and Rawalpindi here on Tuesday.
The dollar resumed trading at Rs 85.90 (buying) and Rs 86.10 (selling) against the same last rate. It did not observe further change in the evening session and closed at Rs 85.90 (buying) and Rs 86.10 (selling).
Pound Sterling opened at Rs 136.30 (buying) and Rs 136.70 (selling) against the same previous rate. British currency did not witness any change in the evening session and closed at Rs 136.30 (buying) and Rs 136.70 (selling).
Copyright Business Recorder, 2011