THE RUPEE: all-round gains

All-round gains were seen on the money market on Saturday as the rupee managed to gain versus dollar and euro, dealers said. The rupee was higher by five paisa against dollar for buying at 85.65 and gained three paisa for selling at 85.70, they said.
INTERBANK MARKET RATES: At the week-end the US dollar and Swiss franc rallied, with more gains seen likely, as tensions in Egypt raised concerns about stability in the Middle East and Africa, increasing investors demand for safer havens and prompting them to sell riskier assets. Emerging market currencies sold off led by the Turkish lira and the Israeli shekel as news reports showed dozens of people were wounded after police and demonstrators fought in the streets of Cairo in protests against President Hosni Mubarak's three-decade rule.
OPEN MARKET RATES: The rupee maintained its surge against dollar, gaining five paisa for buying at 86.05 while it rose by 10 paisa for selling at 86.20, they added. The rupee also followed the same pattern versus euro, rising 70 paisa for buying and selling at Rs 116.80 and Rs 117.30, they said.

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Open Buying      Rs 86.05

Open Selling     Rs 86.20

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

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Buying           Rs 85.65

Selling          Rs 85.70

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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    13.00       13.50       13.25      13.75       13.38

1-Week       11.75       13.30       13.25      13.45       12.94

2-Week       11.80       13.20       13.30      13.50       12.95

1-Month      11.95       13.20       13.30      13.40       12.96

2-Months     12.45       13.25       13.30      13.40       13.10

3-Months     12.95       13.40       13.40      13.50       13.31

4-Months     13.00       13.40       13.40      13.50       13.33

5-Months     13.20       13.50       13.45      13.60       13.44

6-Months     13.35       13.55       13.50      13.60       13.50

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    13.00       13.50       13.25      13.75       13.38

1-Week       12.25       13.35       13.30      13.50       13.10

2-Week       12.30       13.30       13.30      13.55       13.11

1-Month      12.40       13.40       13.30      13.50       13.15

2-Months     12.75       13.45       13.35      13.50       13.26

3-Months     13.00       13.70       13.40      13.75       13.46

4-Months     13.10       13.65       13.45      13.75       13.49

5-Months     13.20       13.70       13.50      13.80       13.55

6-Months     13.30       13.75       13.65      13.90       13.65

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 strength and appreciated its worth by 20-paisa on buying side (Rs 85.80) and 10-paisa on selling side (Rs 86.10) in relation to the dollar in the local currency markets on Saturday.
According to the moneychangers, the dollar commenced trading at overnight closing of Rs 86.00 and Rs 86.20, as its buying and selling rates, respectively. In the absence of buying support, the dollar could not sustain and declined to Rs 85.80 and Rs 86.10 on buying and selling counters, respectively, they said.
Likewise, the Pak rupee opened on a positive sign and appreciated its worth against the pound sterling. The pound sterling was traded at Rs 135.50 and Rs 136.50, as its buying and selling rates, as compared to last closing of Rs 136.50 and Rs 137.50, 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 Saturday.
The dollar opened at Rs 85.90 (buying) and Rs 86.10 (selling) against the 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 previous rate. It 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