The rupee moved both ways against dollar on the currency market on Friday in process of trading, dealers said. The rupee shrugged off its overnight fall in relation to dollar, gaining five paisa for buying and selling at 86.09 and 86.13, they said.
INTERBANK MARKET RATES: In the final Asian session euro has run into stiff resistance after a rebound sparked when Greece effectively abandoned plans for a referendum on its bailout package, as market players worry that protracted political instability could bring further flare-ups in the euro zone's debt crisis.
Few market players see an end any time soon to the euro zone's debt and financial crisis, with Italian, Spanish and even French government bonds trading at hefty spreads over their German counterparts. Greek Prime Minister George Papandreou, facing a revolt from his own party over the plan to call a referendum, is bracing for a knife-edge confidence vote on Friday.
The yuan closed at a record high against dollar on Friday after the People's Bank of China set the mid-point at a historical high in the wake of a Group of 20 meeting in France pushing for greater exchange rate flexibility. The spread is around 490 pips, between offshore yuan, at 6.3880 and spot yuan, at 6.3392. The yuan closed at 6.3514 on Thursday. The dollar versus the Indian rupee was at Rs 49.03 and it was trading at 3.1225 in terms of the Malaysian ringgit.
In the fourth Asian trade euro edged lower, hurt by jitters over Greece's plan for a referendum on the euro zone debt deal, with market players seeing the risk of more downside in the next couple of months.
The euro retreated as attention shifted back to Greece after the US Federal Reserve offered no new stimulus on Wednesday, saying it was mulling the possibility of buying more mortgage debt to spur a struggling recovery. The single currency fell 0.3 percent to $1.3713. The euro dipped to as low as $1.3665 earlier, nearing a three-week low of $1.3608 hit this week. One possible support lies at $1.3566, the 61.8 percent retracement of its October rally.
The dollar was available versus the Indian rupee at Rs 49.53, the US currency was trading at 3.1535 in terms of the Malaysian ringgit and it was at 6.3511 in relation to the Chinese yuan. Interbank buy/sell rates for taka against dollar on Thursday: 76.2850-76.3500 (previous 76.24-76.29) Call Money Rates: 21.00/21.00 percent (previous 10.00-19.00 percent).
OPEN MARKET RATES: The rupee shed 20 paisa in terms of dollar for buying at 86.40 and dropped by 40 paisa for selling at 86.80, they said. The rupee, gave up overnight firmness versus euro shedding Rs 1.21 for buying and selling at Rs 118.33 and Rs 118.83, they said.
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Open Buying Rs 86.09
Open Selling Rs 86.13
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday.
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Buying Rs 86.40
Selling Rs 86.80
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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 11.60 11.90 11.75 11.90 11.79
1-Week 11.50 11.85 11.80 11.90 11.76
2-Week 11.60 11.80 11.75 11.85 11.75
1-Month 11.60 11.75 11.80 11.85 11.75
2-Months 11.65 11.80 11.80 11.90 11.79
3-Months 11.65 11.80 11.80 11.90 11.79
4-Months 11.65 11.80 11.80 11.85 11.78
5-Months 11.65 11.80 11.80 11.85 11.78
6-Months 11.65 11.80 11.80 11.85 11.78
9-Months 11.70 11.80 11.80 11.85 11.79
1-Year 11.75 11.85 11.85 11.90 11.84
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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 11.60 11.90 11.75 11.90 11.79
-Week 11.70 11.90 11.90 12.00 11.88
-Week 11.75 11.90 11.90 12.00 11.89
-Month 11.70 11.90 11.85 12.00 11.86
-Months 11.75 11.90 11.85 11.95 11.86
-Months 11.80 11.90 11.90 11.95 11.89
-Months 11.80 11.90 11.90 11.95 11.89
-Months 11.80 11.90 11.90 12.00 11.90
-Months 11.85 11.95 11.95 12.00 11.94
-Months 11.85 12.00 12.00 12.10 11.99
-Year 11.90 12.00 12.10 12.15 12.04
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RUPEE IN LAHORE: The Pak rupee maintained downward slide and was further declined by 10-paisa on buying side and 30-paisa on selling side in relation to the greenback in the local currency market on Friday.
According to the currency dealers, the dollar's demand remained intact for the second consecutive day that kept the rupee under pressure. As a result, the dollar was closed at Rs 86.30 and Rs 87.00 as its buying and selling rates against the overnight closing of Rs 86.20 and Rs 86.70, respectively, the dealers said.
However, the rupee-pound sterling parity remained unchanged amid low trading activity in the open market. The pound was traded at Thursday closing of Rs 137.00 and Rs 138.00 on buying and selling counters 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 87.60 (buying) and Rs 88.05 (selling) against the last rate. It did not observe further change in the second session and closed at Rs 87.60 (buying) and Rs 88.05 (selling).
Pound Sterling opened at Rs 137.80 (buying) and Rs 137.90 (selling) against the overnight value. It did not observe further change in the second session and closed at Rs 137.80 (buying) and Rs 137.90 (selling).
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