Bearish trend was seen on the currency market on Friday as dollar maintained its surge versus the rupee in process of trading, dealers said. The rupee was down by eight paisa against dollar for buying at 86.87 and fell by 10 paisa for selling at 85.92, they said.
INTERBANK MARKET RATES: In the final Asian trade euro rose against dollar, nearing a two-month high hit earlier this week, and traders said the currency may see more gains in the near-term after a recent improvement in sentiment. Traders say successful bond sales from highly indebted countries, including Portugal and Spain, and expectations of a strengthened euro zone rescue fund, are lending euro support. The single currency rose 0.1 percent to $1.3486, nearing a two-month high of $1.3539 hit on Wednesday on trading platform EBS.
China's yuan edged higher against the US currency on Friday, helped by a drop in dollar index and shrugging off a weaker mid-point fixing.
The yuan in the spot market closed at 6.5833 per dollar, down slightly from Thursday's 6.5854. The yuan has risen 3.69 since its mid-June de-pegging.
OPEN MARKET RATES: The rupee showed no change against dollar for buying at 86.00, it, however, shed 10 paisa for selling at 86.20, they added. The rupee lost 90 paisa versus euro for buying and selling at Rs 115.90 and Rs 116.40, they said.
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Open Buying Rs 85.87
Open Selling Rs 85.92
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Buying Rs 86.00
Selling Rs 86.20
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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 13.75 13.00 13.90 13.35
1-Week 11.55 13.00 12.80 13.10 12.61
2-Week 11.65 12.95 12.95 13.00 12.64
1-Month 11.90 12.90 12.95 13.00 12.69
2-Months 12.40 13.10 13.00 13.25 12.94
3-Months 12.80 13.15 13.15 13.30 13.10
4-Months 12.90 13.20 13.20 13.30 13.15
5-Months 13.00 13.25 13.25 13.40 13.23
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 12.75 13.75 13.00 13.90 13.35
1-Week 12.25 13.10 12.85 13.20 12.85
2-Week 12.30 13.00 13.00 13.25 12.89
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 rupee remained unchanged against dollar at Lahore currency market on Friday.
According to dealers, the dollar was traded at overnight rates of Rs 85.80 and Rs 86.20 for buying and selling, respectively.
On the other hand, the rupee showed strength against pound sterling, which was purchased and sold at Rs 135.50 and Rs 136.00 as compared to previous closing of Rs 136.00 and Rs 137.00, respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against dollar at the currency markets of Islamabad and Rawalpindi on Friday.
The dollar resumed trading at Rs 85.60 (buying) and Rs 85.80 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 85.60 (buying) and Rs 85.80 (selling).
Pound sterling opened at Rs 136.30 (buying) and Rs 136.70 (selling) against same previous rates. It did not witness any change in the evening session and closed at Rs 136.30 (buying) and Rs 136.70 (selling).
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