THE RUPEE: minor changes on money market

The rupee fluctuated slightly versus dollar and euro on the currency market on Friday in process of trading, dealers said. The rupee slipped by four paisa against dollar for buying and selling 87.45 at 87.50, they said.
INTERBANK MARKET RATES: In the final Asian session euro was on track on Friday for its worst monthly slide in nearly a year, slipping back towards an eight-month low against dollar as equities took a hit, while selling by Japanese exporters pushed it closer to a 10-year low versus yen.
The euro relinquished modest gains made after Germany approved an expansion of the euro-zone bailout fund, pressured by a wall of orders from Japanese exporters wrapping up deals for the end of their financial first half. It lost 0.8 percent to 103.66 yen, taking out some light stop losses below the late New York low of 103.90 yen, and shed 0.3 percent versus dollar to $1.3549, with some traders detecting macro funds among the sellers.
The yuan closed near its lowest daily trading limit versus the dollar from the central bank's mid-point on Friday after trading mostly at the limit during the session.
OPEN MARKET RATES: The rupee did not show any change in relation to dollar for buying at 88.20 while it shed 30 paisa for selling at 88.70, they added. The rupee, however, shed eight paisa versus euro for buying and selling at Rs 120.52 and Rs 121.02, they said.

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Open Buying     Rs 87.45

Open Selling    Rs 87.50

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

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Buying          Rs 88.20

Selling         Rs 88.70

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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      13.40       13.40       13.40       13.40

1-Week       13.25      13.40       13.40       13.40       13.36

2-Week       13.15      13.30       13.35       13.40       13.30

1-Month      13.10      13.25       13.30       13.35       13.25

2-Months     13.00      13.20       13.25       13.30       13.19

3-Months     12.85      13.10       13.10       13.20       13.06

4-Months     12.85      13.05       13.10       13.20       13.05

5-Months     12.80      13.00       13.10       13.15       13.01

6-Months     12.80      13.00       13.10       13.15       13.01

9-Months     12.75      13.00       12.90       13.10       12.94

1-Year       12.75      13.00       12.90       13.10       12.94

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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      13.40       13.40       13.45       13.41

1-Week       13.25      13.40       13.40       13.45       13.38

2-Week       13.25      13.40       13.40       13.40       13.36

1-Month      13.15      13.30       13.30       13.35       13.28

2-Months     13.00      13.25       13.25       13.35       13.21

3-Months     12.90      13.25       13.25       13.30       13.18

4-Months     12.90      13.25       13.25       13.30       13.18

5-Months     12.90      13.30       13.25       13.35       13.20

6-Months     13.00      13.30       13.30       13.35       13.24

9-Months     13.00      13.30       13.30       13.35       13.24

1-Year       13.00      13.35       13.30       13.40       13.26

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RUPEE IN LAHORE: The rupee recovered 10 paisa on buying side while it remained unchanged on selling side against dollar on Lahore currency market on Friday.
According to dealers, dollar resumed trading at overnight Rs 88.70 and Rs 89.00 as buying and selling rates, and closed at Rs 88.60 and Rs 89.00 respectively.
The pound was purchased and sold at Rs 138.50 and Rs 139.50 as compared to Thursday closing of Rs 139.00 and Rs 140.00 respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against dollar at the currency markets of Islamabad and Rawalpindi on Friday.
The dollar opened at Rs 88.50 (buying) and Rs 88.60 (selling) against same last rates. It did not observe further change in the second session and closed at Rs 88.50 (buying) and Rs 88.60 (selling).
Pound sterling opened at Rs 137.80 (buying) and Rs 137.90 (selling) against same overnight values. It did not observe further change in the evening session and closed at Rs 137.80 (buying) and Rs 137.90 (selling).
Copyright Business Recorder, 2011