THE RUPEE: dollar down slightly

The rupee inched up against dollar in the currency market on Monday, dealers said. The dollar was in demand by the importers but the rupee performed well by retaining its supremacy versus the greenback, money experts said.
INTERBANK MARKET RATES: The rupee improved after gaining five paisa for buying and selling at 85.35 and 85.40, they said. In the first Asian trade dollar remained stuck near a four-month low against a basket of major currencies on Monday, while the euro was supported by expectations that the European Central Bank to raise interest rates as early as April.
The dollar struggled to gain ground after US jobs data last week came in a touch better than expected, but disappointed investors who had been bracing for an even stronger report. "The market was prepared for a mammoth home run and an arms-raised victory lap. What it got was some good solid contact that resulted in a single base hit. Still good, but a bit disappointing given the pre-payrolls hype," said David Watt, strategist at RBC Dominion Securities.
Interbank buy/sell rates for taka against the dollar on Monday: 71.50/71.50 (previous 71.50/71.50) Call Money Rates: 11.00-12.00 percent (previous 11.00-12.00 percent). Indian rupee was available at Rs 44.98 versus dollar, Malaysian ringgit was trading at 3.0285 in terms of the greenback and Chinese yuan was at 6.5650 in relation to the US currency.
OPEN MARKET RATES: The rupee managed to gain five paisa versus dollar for buying and selling at 85.35 and 85.50, they added. The rupee, however, drifted lower against euro, losing 14 paisa for buying and selling at Rs 119.04 and Rs 119.54, they said.

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Open Buying     Rs.85.35

Open Selling    Rs.85.50

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

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Buying          Rs.85.35

Selling         Rs.85.40

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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     13.50       13.00      13.75        13.25

1-Week        12.25     12.85       12.80      12.90        12.70

2-Week        12.00     12.90       12.90      13.00        12.70

1-Month       12.40     12.95       12.90      13.00        12.81

2-Months      12.50     13.15       13.15      13.25        13.01

3-Months      12.50     13.20       13.20      13.30        13.05

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     12.80     13.50       13.10      13.75        13.29

1-Week        12.30     12.95       12.90      13.10        12.81

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 rupee showed strength and appreciated its worth by 15-paisa on buying side and 10-paisa on selling side in relation to the greenback in the local currency market on Monday.
According to the currency dealers, the dollar remained under pressure and could not sustain at its last week closing position. The dollar was declined to Rs 85.25 and Rs 85.50 on buying and selling sides against the last Saturday closing of Rs 85.40 and Rs 85.60, they said. Likewise, the rupee remained strong and improved its value against the British pound. The pound's buying and selling rates were declined from previous closing of Rs 138.50 and Rs 139.20 to Rs 138.30 and Rs 138.80, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar-rupee parity remained unchanged at the currency exchange establishments of Islamabad and Rawalpindi here on Monday. 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