THE RUPEE: dollar higher marginally

Marginal decline was witnessed in the rupee value against dollar on the currency market on Monday in process of trading, experts said. The rupee fell in relation to dollar by four paisa for buying at 85.94 and domestic currency shed three paisa for selling at 85.98, they said.
INTERBANK MARKET RATES: In the first Asian trading euro fell to fresh two-week lows versus Swiss franc and US dollar in the lead-up to an emergency meeting among European leaders worried that the debt crisis was spreading to Italy, the region's third largest economy. Italian bond yields soared to euro lifetime highs on Friday, raising fears that Italy, with the highest sovereign debt ratio relative to its economy in the euro zone after Greece, could be next to suffer in the crisis.
The Financial Times reported some EU leaders were considering allowing a selective default by Athens to put its debt on a more sustainable footing. The euro last traded at $1.4213 compared with $1.4245 late in New York on Friday, having dipped to an early low around $1.4200. Traders noted buying interest near $1.4180, which should help keep intact the $1.4190-1.4210 support area for now.
Indian rupee was trading at Rs 44.33 versus dollar, Malaysian ringgit was available at 3.0035 in terms of the greenback and Chinese yuan trading at 6.4658 in relation to the US currency. Interbank buy/sell rates for taka against dollar on Monday: 74.45/74.47 (previous 74.30/74.39). Call Money Rates: 9.00-12.00 percent (previous 9.00-12.00 percent.
OPEN MARKET RATES: The rupee did not show any change for buying at 86.10 while, it slipped by 10 paisa for selling at 86.20, they added. The rupee gained versus euro, rising Rs 1.19 for buying and selling at Rs 121.19 and Rs 121.69, they added.

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Open Buying     Rs.86.10

Open Selling    Rs.86.20

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

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Buying          Rs.85.94

Selling         Rs.85.98

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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    13.40      13.90       13.50       13.90       13.68

1-Week       12.90      13.40       13.40       13.50       13.30

2-Week       13.00      13.35       13.40       13.45       13.30

1-Month      13.00      13.35       13.35       13.40       13.28

2-Months     13.10      13.35       13.35       13.40       13.30

3-Months     13.15      13.35       13.35       13.45       13.33

4-Months     13.15      13.40       13.35       13.45       13.34

5-Months     13.20      13.40       13.40       13.50       13.38

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    13.40      13.90       13.50       13.95       13.69

1-Week       13.00      13.45       13.40       13.50       13.34

2-Week       13.10      13.45       13.40       13.50       13.36

1-Month      13.15      13.40       13.35       13.45       13.34

2-Months     13.15      13.45       13.40       13.50       13.38

3-Months     13.20      13.50       13.45       13.60       13.44

4-Months     13.20      13.50       13.50       13.65       13.46

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 dollar-rupee parity remained unchanged in Lahore currency market on Monday.
According to moneychangers, dollar opened at Rs 85.90 (buying) and Rs 86.10(selling) against overnight Rs 86.00 and Rs 86.15, respectively, and closed at Rs 86.00 and Rs 86.15 on buying and selling counters, respectively. However, some dealers quoted buying rate at Rs 85.95.
The pound was purchased and sold at Rs 137.90 and Rs 138.30 on buying and selling sides, respectively, as against Rs 138.00 and Rs 138.70 of Saturday, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against dollar at the currency markets of Islamabad and Rawalpindi on Monday.
The dollar opened at Rs 86.00 (buying) and Rs 86.25 (selling) against same overnight values. It did not observe further change in the second session and closed at Rs 86.00 (buying) and Rs 86.25 (selling).
Pound sterling opened at Rs 138.40 (buying) and Rs 138.45 (selling) against same overnight values. It did not observe further change in the evening session and closed at Rs 138.40 (buying) and Rs 138.45 (selling).
Copyright Business Recorder, 2011