Rising trend in the value of the Pak rupee continued on the second consecutive day, gaining 5.0 to 6.0 paisa during the day in the Interbank Forex Market.
The "spot market" opened with the US dollar changing hands unchanged in the range of Rs 57.43 and Rs 57.45 as respective buying and selling rates.
In the morning session due to scattered buying in the market, trading was witnessed in the vicinity of Rs 57.44/dollar level.
However later on due to diminishing demand and comfortable supply of the US dollar the rupee recovered 6.0 paisa in bid and 4.0 paisa in offer at Rs 57.38 and Rs 57.40.
The market closed unchanged on these levels.
In swap transactions, prices the tenures up-to 3-months surged marginally. 1-week swap was dealt in the range of -0.10 paisa and Par.
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DAILY FOREX REPORT Wednesday (February 11, 2004)
SBP US $/PKR Parity: 46.00/.23
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US $/PKR Ready 1 Wk 1M 2M 3M 4M 5M R/6M
Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer
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Oupright 57.38 57.40 57.38 57.40 57.36 57.38 57.35 57.37 57.34 57.36 57.33 57.36 57.32 57.35 57.32 57.35
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SWAP
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O/N R/1 WK R/1 M R/2 M R/3 M R/4 M R/5 M R/6 M
Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer Bid Offer
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Paisa -0.50 0.00 -1.00 0.00 -3.00 -1.00 -4.00 -2.00 -5.00 -3.00 -6.00 -3.00 -7.00 -4.00 -7.00 -4.00
% Bid -2.18 1.00 0.09 1.00 0.36 0.79 0.58 0.79 0.65 0.79 0.68 0.84 0.70 0.83 0.75 0.86
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