THE RUPEE: minor changes

All-round declines were seen on the currency market on Friday in process of trading, dealers said. The rupee lost 13 paisa against dollar for buying at 86.90 and shed 12 paisa for selling at 86.95 due to strong demand, they said.
INTERBANK MARKET RATES: In the fourth Asian trade dollar came off a two-week high against yen, weighed down by euro's gains on political progress in Spain, but was seen likely to recoup losses and firm further on views the Federal Reserve will not signal strong economic stimulus.
The greenback was also under pressure from the Australian dollar which gained on the Australian central bank chief's upbeat remarks about the country's economy, soothing worries over deep interest rate cuts. Markets started the week thinking Bernanke may announce a third round of asset purchases or some other extraordinary policy later on Friday in a speech in Jackson Hole, Wyoming, pressuring the dollar. But this view has changed, giving the US currency a broad boost on Thursday.
The US currency was at Rs 46.04 Indian rupee, the greenback was trading at 2.9880 in relation to Malaysian ringgit and the dollar was available at 6.390 Chinese yuan.
OPEN MARKET RATES: The rupee was down by 10 paisa versus dollar for buying and selling at 86.60 and 86.80, they added. The rupee also dropped by three paisa in terms of euro for buying and selling at Rs 124.93 and Rs 125.43, they said.

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Open Buying     Rs 86.90

Open Selling    Rs 86.95

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

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Buying          Rs 86.60

Selling         Rs 86.80

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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    10.50      13.00      10.50        13.20       11.80

1-Week       12.50      13.20      13.00        13.30       13.00

2-Week       12.50      13.20      13.10        13.30       13.03

1-Month      12.90      13.10      13.20        13.30       13.13

2-Months     13.00      13.10      13.20        13.30       13.15

3-Months     13.00      13.15      13.25        13.30       13.18

4-Months     13.00      13.20      13.25        13.30       13.19

5-Months     13.00      13.20      13.25        13.30       13.19

6-Months     13.05      13.20      13.25        13.30       13.20

9-Months     13.15      13.25      13.35        13.40       13.29

1-Year       13.20      13.30      13.35        13.40       13.31

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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     10.50     13.00      10.60       13.25        11.84

1-Week        12.50     13.15      13.05       13.30        13.00

2-Week        12.50     13.25      13.15       13.35        13.06

1-Month       12.90     13.10      13.25       13.35        13.15

2-Months      13.05     13.15      13.30       13.35        13.21

3-Months      13.05     13.15      13.30       13.35        13.21

4-Months      13.00     13.20      13.30       13.35        13.21

5-Months      13.00     13.20      13.30       13.40        13.23

6-Months      13.05     13.20      13.30       13.40        13.24

9-Months      13.15     13.25      13.40       13.40        13.30

1-Year        13.20     13.30      13.40       13.45        13.34

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RUPEE IN LAHORE: The rupee remained under pressure and lost five-paisa in relation to the greenback in the local currency market on Friday.According to the currency dealers, the dollar resumed trading at its overnight closing of Rs 86.60 and Rs 86.80, as its buying and selling rates, respectively. There was no visible change in the dollar's value during the day. However, at the end of trading, the dollar was closed marginally higher at Rs 86.65 and Rs 86.85 on buying and selling sides, respectively, the dealers said.
On the contrary, the rupee maintained upward slide for the third consecutive day and appreciated its worth against the British pound. The pound was purchased and sold at Rs 141.50 and Rs 142.00, as compared to day earlier closing of Rs 142.00 and Rs 142.50, 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 opened at Rs 86.05 (buying) and Rs 86.35 (selling) against the last week's rate. It did not observe further change in the second session and closed at Rs 86.05 (buying) and Rs 86.35 (selling).
Pound Sterling opened at Rs 138.35 (buying) and Rs 138.50 (selling) against the overnight value. British currency did not observe further change in the evening session and closed at Rs 138.35 (buying) and Rs 138.50 (selling).
Copyright Business Recorder, 2011