THE RUPEE: dollar moves both ways

The rupee traded on both side against dollar on currency market on Thursday, dealers said. The rupee managed to recover seven paisa in relation to dollar for buying and selling at 84.53 and 84.58, they said. In the fourth Asian trade euro hovered near a 17-month high against a struggling dollar as investors looked for the European Central Bank to reinforce expectations of higher rates after its policy meeting later in the day.
INTERBANK MARKET RATES: Markets are waiting to see if the ECB chief Jean-Claude Trichet will use its "strong vigilance" code words to signal a follow-up rate rise in June to the initial move in April as central bank steps up its fight against inflation. Interbank buy/sell rates for taka against dollar on Thursday: 73.10/73.15 (previous 73.03/73.10) Call Money Rates: 5.00-7.25 percent (previous 5.00-7.25 percent).
Indian rupee was trading at Rs 44.46 versus dollar, Malaysian ringgit was available at 2.9850 in relation to the greenback and Chinese yuan was at 6.4960 in terms of the greenback.
OPEN MARKET RATES: The rupee shed five paisa in relation to dollar for buying and selling at 84.45 and 84.60, they added. The rupee also showed weakness versus euro, losing 14 paisa for buying and selling at Rs 125.32 and Rs 125.82, they said.

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Open Buying     Rs 84.45

Open Selling    Rs 84.60

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

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Buying          Rs 84.53

Selling         Rs.84.58

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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     11.25     12.75       11.40       13.00       12.10

1-Week        11.50     12.15       12.10       12.20       11.99

2-Week        11.60     12.30       12.30       12.40       12.15

1-Month       11.75     12.65       12.65       12.70       12.44

2-Months      12.40     12.90       12.85       13.00       12.79

3-Months      12.75     12.90       12.95       13.05       12.91

4-Months      12.85     13.00       13.00       13.20       13.01

5-Months      13.00     13.35       13.25       13.40       13.25

6-Months      13.20     13.35       13.30       13.40       13.31

9-Months      13.25     13.50       13.50       13.60       13.46

1-Year        13.40     13.60       13.50       13.65       13.54

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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     11.25     12.75       11.50       13.00       12.13

1-Week        11.90     12.15       12.20       12.25       12.13

2-Week        12.20     12.40       12.40       12.55       12.39

1-Month       12.50     12.85       12.80       12.90       12.76

2-Months      12.90     13.10       13.10       13.25       13.09

3-Months      13.10     13.30       13.30       13.40       13.28

4-Months      13.25     13.40       13.30       13.50       13.36

5-Months      13.30     13.50       13.40       13.60       13.45

6-Months      13.35     13.55       13.50       13.65       13.51

9-Months      13.50     13.65       13.60       13.70       13.61

1-Year        13.50     13.75       13.60       13.85       13.68

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RUPEE IN LAHORE: The greenback appreciated its worth in relation to the Pak rupee at the open currency market of Lahore on Thursday.
The dollar resumed trading at Rs 84.45 (buying) and Rs 84.60 (selling) against Rs 84.40 and Rs 84.60 of Wednesday. In the wake of fresh buying activity, the dollar moved up and closed at Rs 84.50 (buying) and Rs 84.65 (selling). The currency dealers said the dollar is firm in the local kerb due to surge in its demand.
On the other hand, the British pound opened at Rs 139.00 and Rs 140.00 against the previous rates. It witnessed fractional change and was purchased and sold at Rs 139.10 and Rs 139.75, respectively.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained unchanged against the rupee at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar resumed trading at Rs 84.50 (buying) and Rs 85.00 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 84.50 (buying) and Rs 85.00 (selling).
Pound Sterling opened at Rs 136.50 (buying) and Rs 137.50 (selling) against the previous rate. It did not witness any change in the evening session and closed at Rs 136.50 (buying) and Rs 137.50 (selling).
Copyright Business Recorder, 2011