THE RUPEE: dollar higher

Falling trend was seen on the interbank market on Monday as dollars' demand was higher in process of trading, dealers said. The rupee continued falling versus dollar, dropping 16 paisa for buying at 86.34 and shed 17 paisa for selling at 86.37, they said.
INTERBANK MARKET RATES: In the first Asian trade dollar dipped as US lawmakers had yet to reach a deal to raise the country's debt ceiling with only a little over a week remaining before the deadline to avert a default. Most investors still assume that sanity will reign in Washington and a debt deal will be done, but the lack of progress in talks over how to cut the US budget deficit is making market players nervous.
The dollar fell to a four-month low against yen of 78.12 yen and shed 0.6 percent against the Swiss franc to 0.8132 franc, about a centime away from its record low hit last week. The uncertainty over the US debt crisis also kept growth-linked currencies such as the Australian dollar in check. The yuan hit a record high against dollar on Monday, reversing the morning's fall and in spite of a slightly lower mid-point fixing as the market braces for further losses in dollar.
Inter bank buy/sell rates for taka against the dollar on Monday: 74.65/74.70 (previous 74.66/74.70) Call Money Rates: 9.00-12.00 percent (previous 9.00-12.00 percent). Indian rupee was available at Rs 44.35 versus dollar and Malaysian ringgit was trading at 2.972 in terms of the US currency.
OPEN MARKET RATES: The rupee managed to gain 10 paisa against the dollar for buying at 85.95 and it did not show any change for selling at 86.10, they added. The rupee dropped by eight paisa in terms of euro for buying and selling at Rs 123.34 and Rs 123.84, they said.

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Open Buying     Rs 86.34

Open Selling    Rs 86.37

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

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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     13.25     13.90      13.50        13.90       13.64

1-Week        12.90     13.55      13.50        13.60       13.39

2-Week        13.00     13.50      13.45        13.55       13.38

1-Month       13.00     13.45      13.45        13.55       13.36

2-Months      13.10     13.45      13.45        13.50       13.38

3-Months      13.15     13.45      13.45        13.50       13.39

4-Months      13.15     13.45      13.50        13.55       13.41

5-Months      13.20     13.50      13.50        13.60       13.45

6-Months      13.25     13.55      13.50        13.60       13.48

9-Months      13.30     13.65      13.65        13.75       13.59

1-Year        13.40     13.65      13.65        13.75       13.61

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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     13.25     13.90      13.50        13.90       13.64

1-Week        13.00     13.60      13.50        13.65       13.44

2-Week        13.10     13.55      13.45        13.60       13.43

1-Month       13.15     13.55      13.50        13.55       13.44

2-Months      13.15     13.50      13.50        13.55       13.43

3-Months      13.20     13.50      13.50        13.60       13.45

4-Months      13.20     13.50      13.50        13.65       13.46

5-Months      13.25     13.55      13.50        13.65       13.49

6-Months      13.30     13.60      13.50        13.65       13.51

9-Months      13.50     13.70      13.60        13.75       13.64

1-Year        13.50     13.75      13.60        13.90       13.69

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RUPEE IN LAHORE: The rupee-dollar parity remained unchanged at Lahore currency market on Monday.
According to dealers, the dollar was purchased and sold at Saturday's rates of Rs 86.00 and Rs 86.20 for buying and selling, respectively.
However, in relation to British pound, the rupee marginally declined by 10 paisa on buying side while it remained unchanged on selling side. The pound was traded at Rs 139.60 and Rs 140.20 as compared to last week closing of Rs 139.50 and Rs 140.20, respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the currency markets of Islamabad and Rawalpindi on Monday.
The dollar opened at Rs 86.00 (buying) and Rs 86.30 (selling) against same last rates. It did not observe further change in the second session and closed at Rs 86.00 (buying) and Rs 86.30 (selling).
Pound sterling opened at Rs 138.30 (buying) and Rs 138.45 (selling) against same overnight values. It did not observe further change in the last trading hours and closed at Rs 138.30 (buying) and Rs 138.45 (selling).
Copyright Business Recorder, 2011