The greenback shined in the Interbank Forex Market as it advanced by 2.0 to 3.0 paisa the Pak rupee during the day.
The "spot" market opened with the US dollar changing hands in the range of Rs 57.30 and Rs 57.32 as respective buying and selling rates.
Panic buying of the US dollar by a few banks in the market put pressure on the local currency as it retreated by 3.0 paisa each in bid and offer at Rs 57.33 and Rs 57.35.
However by the end of trading session, as the buying interest subsided the Pak rupee recovered marginally concluding the day at Rs 57.28 and Rs 57.30 as respective buying and selling rates.
In swap transactions, prices most of the tenures surged marginally. 1-week swap was dealt in the range of -2.0 paisa and -1.0 paisa.
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DAILY FOREX REPORT Monday (February 23, 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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Outright 57.32 57.34 5732 57.34 57.26 57.30 57.24 57.28 57.23 57.28 57.21 57.26 57.21 57.26 57.20 57.26
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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 -2.00 -1.00 -7.00 -3.00 -9.00 -5.00 -10.00 -5.00 -12.00 -7.00 -12.00 -7.00 -13.00 -7.00
% Bid -2.18 1.00 -0.82 0.09 -0.49 0.36 0.05 0.47 0.29 0.65 0.36 0.63 0.49 0.70 0.54 0.75
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