THE RUPEE: mixed trend

Divergent trend was seen on the currency market on Monday as the rupee traded on both sides versus dollar, dealers said. The rupee inched up versus dollar, gaining one paisa for buying and selling at 85.64 and 85.69, they said.
INTERBANK MARKET RATES: In the first Asian trade dollar found a steadier footing on Monday as market players covered short positions ahead of a series of important events this week that could drastically change its recent range-bound trend. The Swiss franc remained firm, however, both against dollar and euro, as ongoing tensions in Libya and fears of contagion kept its safe-haven attraction intact. The dollar index, which tracks the greenback's performance against a basket of major currencies, was little changed at 77.193, off a three-week low of 76.945 plumbed last week. A break below 76.881 would have the index back at lows not seen since early November.
Indian rupee was trading at Rs 45.32 versus dollar, Malaysian ringgit was available at 3.0530 in relation to the greenback and Chinese yuan was at 6.5770 in terms of the US currency.
Interbank buy/sell rates for taka against dollar on Monday: 71.30/71.32 (previous 71.30/71.30). Call Money Rates: 11.00-12.00 percent (previous 10.50-12.00 percent).
OPEN MARKET RATES: The rupee continued its weekend slide versus dollar, losing 15 paisa for buying and selling at 85.60 and 85.80, they added. The rupee also fell in relation to euro, dipping 89 paisa for buying and selling at Rs 117.98 and Rs 118.48, they said.

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Open Buying     Rs 85.60

Open Selling    Rs.85.80

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

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Buying          Rs.85.64

Selling         Rs.85.69

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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     12.25      13.25      12.50       13.50       12.88

1-Week        11.70      12.80      12.75       12.85       12.53

2-Week        11.80      12.80      12.75       12.90       12.56

1-Month       12.05      12.90      12.90       13.00       12.71

2-Months      12.50      13.15      13.15       13.25       13.01

3-Months      12.90      13.20      13.20       13.30       13.15

4-Months      13.00      13.30      13.25       13.35       13.23

5-Months      13.20      13.45      13.40       13.50       13.39

6-Months      13.35      13.50      13.45       13.55       13.46

9-Months      13.40      13.60      13.50       13.65       13.54

1-Year        13.45      13.60      13.55       13.65       13.56

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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     12.25      13.25      12.50       13.50       12.88

1-Week        12.00      12.90      12.85       13.00       12.69

2-Week        12.40      13.10      13.00       13.20       12.93

1-Month       12.60      13.20      13.00       13.30       13.03

2-Months      12.90      13.40      13.30       13.50       13.28

3-Months      13.10      13.60      13.40       13.70       13.45

4-Months      13.25      13.65      13.45       13.75       13.53

5-Months      13.40      13.70      13.50       13.75       13.59

6-Months      13.50      13.75      13.70       13.90       13.71

9-Months      13.60      13.80      13.75       13.95       13.78

1-Year        13.50      13.90      13.80       14.00       13.80

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RUPEE IN LAHORE: The rupee remained unchanged on buying side (Rs 85.40) while it lost 10-paisa on selling side (Rs 85.70) against the greenback in the local currency markets on Monday.
According to the moneychangers, the dollar showed strength and improved its worth on account of fresh buying support in the local currency market. The dollar was traded at Rs 85.40 and Rs 85.70 as its buying and selling rates as compared to last Saturdays closing rates of Rs 85.40 and Rs 85.60, respectively, they said.
Likewise, the rupee remained under pressure against the pound sterling and lost 50-paisa on both the counters. The pound was purchased and sold at Rs 137.50 and Rs 138.50 as compared to Saturdays closing rates of Rs 137.00 and Rs 138.00, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar-rupee parity remained unchanged at the currency exchange establishments of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 85.90 (buying) and Rs 86.20 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 85.90 (buying) and Rs 86.20 (selling).
Pound Sterling opened at Rs 136.35 (buying) and Rs 136.75 (selling) against same previous rate. It did not witness any change in the evening session and closed at Rs 136.35 (buying) and Rs 136.75 (selling).
Copyright Business Recorder, 2011