Rising demand for dollars persisted in the interbank market on Wednesday as the rupee shed two paisa for buying and selling at Rs 57.50 and Rs 57.51 respectively, dealers said.
This is for the second time when the rupee crossed the Rs 57.50 mark due to the demand for dollars, they added.
However, currency analysts expected that the rupee might limit its losses on falling demand of the dollar.
In the world markets, the euro managed to recover handsome ground versus the dollar, they added.
OPEN MARKET RATES: The rupee continued its overnight slide versus the dollar, giving up seven paisa more on the buying side at Rs 57.97 and shedding two paisa on the selling counter at Rs 58.02.
The rupee also lost 21 paisa versus the euro for buying and selling at Rs 69.14 and Rs 69.44, as the single European currency recovered its lost ground versus the dollar.
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Kerb Buying Rs 57.97
Kerb Selling Rs 58.02
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Wednesday.
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Buying Rs 57.50
Selling Rs 57.51
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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 0.10 0.20 0.30 0.40 0.25
1-Week 0.70 1.00 0.90 1.50 1.03
2-Week 1.00 1.25 1.50 1.75 1.38
1-Month 1.40 1.60 1.70 1.80 1.63
2-Months 1.45 1.65 1.85 2.00 1.74
3-Months 1.50 1.70 1.90 2.10 1.80
4-Months 1.60 1.80 2.00 2.20 1.90
5-Months 1.70 1.90 2.00 2.20 1.95
6-Months 1.80 2.00 2.20 2.40 2.10
9-Months 2.00 2.20 2.40 2.60 2.30
1-Year 2.30 2.50 2.70 2.90 2.60
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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 0.20 0.30 0.40 0.50 0.35
1-Week 0.90 1.20 1.40 1.60 1.28
2-Week 1.25 1.50 1.75 2.00 1.63
1-Month 1.50 1.70 1.90 2.10 1.80
2-Month 1.60 1.80 2.00 2.20 1.90
3-Month 1.70 1.90 2.10 2.30 2.00
4-Month 1.90 2.10 2.30 2.50 2.20
5-Month 2.00 2.20 2.40 2.60 2.30
6-Month 2.00 2.20 2.40 2.60 2.30
9-Month 2.20 2.40 2.60 2.80 2.50
1-Year 2.40 2.60 2.80 3.00 2.70
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RUPEE IN LAHORE: The rupee registered marginal decline of two-paisa in buying at Rs 58.02, while remained unchanged on selling at Rs 58.10 on Wednesday in relation to the greenback in the local currency market.
There was slight decrease in dollar's demand, which helped the local currency to avert more declines.
The dollar trading resumed at overnight closing levels of Rs 58.00 (buying) and Rs 58.10 (selling). It showed fractional upward movement and finally closed at Rs 58.02 (buying), while selling rate remained intact at opening value, the currency dealers said.
On the contrary, the rupee succeeded to recover some of its earlier loss. The pound was at Rs 103.70 (buying) and Rs 104.10 (selling) as compared to Rs 104.00 (buying) and Rs 104.50 (selling) of Tuesday, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar was down by 10 paisa against the rupee on the open currency markets of Islamabad and Rawalpindi on Wednesday.
It opened at Rs 57.85 (buying) and Rs 57.95 (selling) against the last rate of Rs 57.95 (buying) and Rs 58.05 (selling). It did not observe any further change in the second spell, and closed at Rs 57.85 (buying) and Rs 57.95 (selling).
The pound sterling opened at Rs 103.70 (buying) and Rs 103.80 (selling) against the last rate of Rs 104.10 (buying) and Rs 104.30 (selling).
It did not observe any further change in the evening session, and closed at Rs 103.70 (buying) and Rs 103.80 (selling).
The Canadian dollar opened at Rs 42.90 (buying) and Rs 43 (selling) against the last rate of Rs 42.80 (buying) and Rs 42.90 (selling).
It remained firm against the rupee in the second session, and closed at Rs 42.90 (buying) and Rs 43 (selling).
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