THE RUPEE: dollar at 90 on Interbank market

The dollar hit the new high at 90 on the interbank market on Wednesday due to strong demand by the importers, who were making forward buying to meet the import payments requirements, dealers said. The rupee continued its fall versus dollar, losing five paisa for buying at 89.95 and it also lost seven paisa for selling at 90.00, they added.
INTERBANK MARKET DEALINGS: OPEN MARKET RATES: The rupee also lost 20 paisa in relation to dollar for buying at 90.00 and 90.20 for selling, they said. Versus euro, the rupee also came down, falling by Rs 1.09 for buying and selling at Rs 117.88 and Rs 118.38, they said.
Reuters adds: In the third Asian session euro extended gains in Asian trade, on short-covering ahead of the European Central Bank's first offer of three-year loans that many hope will help the region's banks lower their funding costs.
But the European unit also hit an all time low against the Australian dollar as improving risk appetite increased the appeal of commodity-linked currencies, and worries about Europe's debt crisis will likely continue to cap gains. Interbank buy/sell rates for taka against dollar on Wednesday: 80.95-81.30 (previous 80.78-80.90) Call Money Rates: 20.00 percent (previous 14.00-22.00 percent).
The yuan ended up slightly against dollar on Wednesday after the People's Bank of China set a stronger mid-point, with a pullback in the dollar index dampening expectations of yuan depreciation. The dollar was trading against the Indian rupee at Rs 52.65 and it was available at 3.1665 versus the Malaysian ringgit.

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Open Buying     Rs 89.95

Open Selling    Rs 90.00

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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday

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Buying          Rs 90.05

Selling         Rs 90.25

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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    10.75      11.85      11.00        11.90       11.38

1-Week       11.25      11.70      11.60        11.75       11.58

2-Week       11.40      11.70      11.80        11.85       11.69

1-Month      11.60      11.80      11.80        11.90       11.78

2-Months     11.65      11.85      11.80        11.85       11.79

3-Months     11.70      11.80      11.80        11.85       11.79

4-Months     11.70      11.75      11.80        11.85       11.78

5-Months     11.70      11.80      11.80        11.85       11.79

6-Months     11.65      11.75      11.80        11.85       11.76

9-Months     11.70      11.85      11.85        11.90       11.83

1-Year       11.70      11.85      11.85        11.90       11.83

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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    10.75      11.85      11.00        11.90       11.38

1-Week       11.40      11.75      11.70        11.90       11.69

2-Week       11.65      11.85      11.85        11.95       11.83

1-Month      11.70      11.90      11.90        12.00       11.88

2-Months     11.70      11.90      11.85        12.00       11.86

3-Months     11.80      11.90      11.85        12.00       11.89

4-Months     11.80      11.90      11.90        12.00       11.90

5-Months     11.85      11.90      11.90        12.00       11.91

6-Months     11.85      11.95      11.95        12.00       11.94

9-Months     11.85      12.00      12.00        12.10       11.99

1-Year       11.90      12.00      12.10        12.15       12.04

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RUPEE IN LAHORE: The rupee gained 20 paisa on buying side and 15 paisa on selling side in relation to dollar at Lahore currency market on Wednesday.
According to dealers, the dollar closed lower at Rs 89.80 and Rs 90.20 as buying and selling rates against Rs 90.00 and Rs 90.35, respectively.
However, the rupee was down against pound, whose buying and selling rates improved to Rs 140.50 and Rs 141.50 from Tuesday's Rs 139.80 and Rs 140.50, respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 89.00 (buying) and Rs 89.20 (selling) against the last rate. It did not observe further change in the second session and closed at Rs 89.00 (buying) and Rs 89.20 (selling).
Pound Sterling opened at Rs 138.00 (buying) and Rs 138.90 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 138.00 (buying) and Rs 138.90 (selling).
Copyright Business Recorder, 2011