THE RUPEE: parity stays put

The rupee, somehow, managed to hold its overnight levels against dollar and euro on the currency market on Saturday, dealers said.
INTERBANK MARKET RATES: The rupee was unchanged against dollar for buying and selling at 85.40 and 85.45, they said.
At the weekend dollar eased to a four-month low against major currencies and looked set to extend losses after a solid US February jobs report did little to alter expectations for Federal Reserve monetary policy.
The euro broke above the psychologically important $1.40 level and headed for its biggest weekly rise in six weeks. The single currency is on course to make a run toward $1.4283 -- a key resistance level touched last November -- after European Central Bank President Jean-Claude Trichet hinted on Thursday at an April interest rate rise.
OPEN MARKET RATES: The rupee held its overnight level versus dollar for buying and selling at 85.40 and 85.55, they added.
The rupee did the same in terms of euro for buying and selling at Rs 118.90 and Rs 119.40, they said.

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Open Buying     Rs 85.40

Open Selling    Rs.85.55

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

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Buying          Rs.85.40

Selling         Rs.85.45

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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     13.00       12.50      13.25        12.75

1-Week        11.50     12.85       12.80      12.90        12.51

2-Week        11.60     12.90       12.90      13.00        12.60

1-Month       11.90     12.95       12.90      13.00        12.69

2-Months      12.35     13.15       13.15      13.25        12.98

3-Months      12.40     13.20       13.20      13.30        13.03

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     13.10       12.50      13.25        12.78

1-Week        12.00     12.95       12.90      13.10        12.74

2-Week        12.40     13.00       13.00      13.15        12.89

1-Month       12.60     13.15       13.00      13.25        13.00

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 Pak rupee showed stability and remained unchanged on buying side, while it was improved on selling side by 5-paisa against the dollar in the open currency market on Saturday.
According to the moneychangers, the dollar resumed trading at its overnight closing of Rs 85.40 and Rs 85.65 on buying and selling sides, respectively. The dollar witnessed no change in its buying rate during the trading that stayed unchanged at Rs 85.40, while its selling rate was declined from the day earlier closing of Rs 85.65 to Rs 85.60, they said.
Similarly, the rupee maintained its last day position and remained unchanged against the pound sterling. The pound was traded at Friday closing of Rs 138.50 and Rs 139.20, respectively, the moneychangers 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 85.95 (buying) and Rs 86.20 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 85.95 (buying) and Rs 86.20 (selling).
Pound Sterling opened at Rs 136.30 (buying) and Rs 136.75 (selling) against same previous rate. It did not witness any change in the evening session and closed at Rs 136.30 (buying) and Rs 136.75 (selling)
Copyright Business Recorder, 2011