THE RUPEE: rupee falls

The rupee fell versus dollar on interbank market on Saturday while it was firm on open market, experts said. The rupee lost 18 paisa against dollar for buying and selling at 85.80 and 85.85 due to strong demand for the US currency, they said.
INTERBANK MARKET RATES: At the week-end, the euro rose against dollar, capping off its best week since late April, as European officials said Greece should be able to shoulder its heavy debt burden without restructuring. But the safe-haven Swiss franc was the day's top performer, rising to record peaks against both dollar and euro. Traders said the move indicated that investors were still worried about Europe's debt crisis and divisive US budget debate.
US markets will be closed on Monday for Memorial Day.
The euro pushed above $1.43 for the first time in a week after Greek central bank chief George Provopoulos said the country will repay its debts in full without restructuring if it sticks to a fiscal austerity plan. French President Nicolas Sarkozy also lent support when he said France opposed a Greek debt restructuring and would defend euro. It last traded at $1.4272, up 1 percent.
OPEN MARKET RATES: The rupee retained its overnight levels in relation to the dollar for buying and selling at 85.80 and 86.00. However, it gained 61 paisa in terms of euro for buying and selling at Rs 121.20 and Rs 121.70.

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Open Buying     Rs.85.80

Open Selling    Rs.86.00

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

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Buying          Rs.85.80

Selling         Rs.85.85

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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      13.75       13.25       13.75       13.44

1-Week       12.50      13.40       13.35       13.45       13.18

2-Week       12.75      13.25       13.30       13.35       13.16

1-Month      12.80      13.25       13.25       13.30       13.15

2-Months     12.80      13.20       13.20       13.30       13.13

3-Months     13.00      13.25       13.25       13.35       13.21

4-Months     13.00      13.25       13.30       13.35       13.23

5-Months     13.10      13.35       13.35       13.40       13.30

6-Months     13.25      13.45       13.40       13.50       13.40

9-Months     13.30      13.60       13.60       13.70       13.55

1-Year       13.40      13.65       13.65       13.75       13.61

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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      13.75       13.25       13.75       13.44

1-Week       12.60      13.45       13.40       13.50       13.24

2-Week       12.80      13.35       13.30       13.40       13.21

1-Month      12.90      13.35       13.30       13.40       13.24

2-Months     13.00      13.40       13.35       13.45       13.30

3-Months     13.10      13.45       13.30       13.50       13.34

4-Months     13.10      13.45       13.40       13.50       13.36

5-Months     13.25      13.50       13.40       13.60       13.44

6-Months     13.30      13.60       13.45       13.65       13.50

9-Months     13.50      13.70       13.60       13.75       13.64

1-Year       13.50      13.75       13.60       13.90       13.69

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RUPEE IN LAHORE: The rupee-dollar parity remained unchanged at Lahore currency market on Saturday.
According to dealers, the dollar was traded at its overnight closing level of Rs 86.00 and Rs 86.20 as its buying and selling rates, respectively.
Similarly, the rupee showed stability and stayed unchanged against British pound. The pound was purchased and sold at Friday's closing of Rs 141.00 and Rs 142.00, respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained unchanged against rupee at the open currency markets of Islamabad and Rawalpindi on Saturday.
The dollar resumed trading at Rs 84.60 (buying) and Rs 85.20 (selling) against same last rates. It did not observe further change in the evening session and closed at Rs 84.60 (buying) and Rs 85.20 (selling).
Pound sterling opened at Rs 136.50 (buying) and Rs 137.60 (selling) against same previous rate. It did not witness any change in the evening session and closed at Rs 136.50 (buying) and Rs 137.60 (selling).
Copyright Business Recorder, 2011