THE RUPEE: all-round decline

All-round slide was seen on the currency market on Friday as the rupee came down versus dollar and euro, experts said. The rupee extended it fall in relation to dollar, losing eight paisa for buying at 85.80 and shed 10 paisa for selling at 85.85, they said.
INTERBANK MARKET RATES: In the final Asian trade euro held steady against dollar as a short-covering bounce stalled on lingering uncertainty about the fate of Greece's austerity plan, with signs of money market strains also seen as a potential downside risk for the single currency.
The euro bounced off the previous day's low following news that Greece had reached a deal with international lenders on an austerity plan that would bring it one step closer to securing much-needed financial aid. But euro later lost steam, with the single currency last standing at $1.4255, little changed from late US trading on Thursday, its earlier bounce having stalled just below resistance near $1.4286.
Indian rupee was at Rs 44.95 versus dollar, Malaysian ringgit was available at 3.0325 in terms of the greenback and Chinese yuan was trading at 6.4715 versus the US currency.
OPEN MARKET RATES: The rupee fell sharply against dollar, losing 20 paisa for buying at 86.00 and slid 25 paisa for selling at 86.20, they added. The rupee also continued its weakness against euro, shedding 21 paisa for buying at Rs 121.88 and selling at Rs 122.38, they said.

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Open Buying     Rs 85.80

Open Selling    Rs 85.85

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

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Buying          Rs 86.00

Selling         Rs 86.20

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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     12.00      13.25       12.25       13.50      12.75

1-Week        12.25      13.25       13.20       13.30      13.00

2-Week        12.50      13.25       13.25       13.30      13.08

1-Month       12.75      13.25       13.25       13.30      13.14

2-Months      12.80      13.30       13.30       13.35      13.19

3-Months      12.90      13.35       13.35       13.45      13.26

4-Months      13.00      13.40       13.35       13.45      13.30

5-Months      13.10      13.40       13.40       13.50      13.35

6-Months      13.25      13.50       13.50       13.60      13.46

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     12.00      13.25       12.25       13.50      12.75

1-Week        12.50      13.30       13.25       13.40      13.11

2-Week        12.75      13.40       13.40       13.50      13.26

1-Month       13.00      13.40       13.40       13.50      13.33

2-Months      12.95      13.50       13.45       13.60      13.38

3-Months      13.10      13.50       13.45       13.60      13.41

4-Months      13.10      13.50       13.50       13.65      13.44

5-Months      13.25      13.55       13.50       13.65      13.49

6-Months      13.30      13.60       13.50       13.65      13.51

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 Pak rupee maintained downward move and further lost five-paisa against the dollar in the kerb market on Friday.
According to the moneychangers, the dollar's demand remained intact that helped its appreciation in the open market. The dollar was marginally closed higher at Rs 85.05 and Rs 86.25 against the Thursday closing of Rs 86.00 and Rs 86.20, as its buying and selling rates, respectively.
Similarly, the rupee remained under pressure and declined against the pound sterling. The pound was purchased and sold at Rs 138.20 and Rs 139.20, as compared to Thursday closing of Rs 138.00 and Rs 139.00, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar opened at Rs 85.70 (buying) and Rs 85.80 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 85.70 (buying) and Rs 85.80 (selling).
Pound Sterling opened at Rs 138.40 (buying) and Rs 138.50 (selling) against the overnight value. It did not observe further change in the evening session and closed at Rs 138.40 (buying) and Rs 138.50 (selling).
Copyright Business Recorder, 2011