Sharp decline was seen in the rupee's value versus the dollar in the open market on Thursday as it lost 10 paisa on the buying and selling counter at Rs 58.65 and Rs 58.75 respectively on rising demand of the greenback, dealers said.
According to market sources, the rupee has lost its firmness due to excessive buying by the inter-bank market.
The corporate demand for dollars pushed it down and falling trend in the open market to continue in the near future, they added.
The rupee, however, recovered 25 paisa versus the euro for buying and selling at Rs 69.95 and Rs 70.25, moneychangers said.
In the world market, the dollar eroded most of its gains versus the yen on the fresh decline of the share prices, they added.
INTER-BANK RATES: The rupee-dollar parity rate did not show any change in relation to the dollar for buying and selling at Rs 57.75 and Rs 57.77, market-men said.
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Kerb Buying Rs 58.65
Kerb Selling Rs 58.75
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Thursday.
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Buying Rs 57.75
Selling Rs 57.77
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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 0.30 0.70 0.50 0.90 0.60
1-Week 0.50 0.70 0.90 1.10 0.80
2-Week 0.90 1.10 1.30 1.50 1.20
1-Month 1.40 1.50 1.80 1.90 1.65
2-Months 1.70 1.80 2.10 2.30 1.98
3-Months 1.90 2.00 2.20 2.40 2.13
4-Months 1.80 2.00 2.20 2.40 2.10
5-Months 1.90 2.10 2.30 2.50 2.20
6-Months 2.00 2.20 2.40 2.60 2.30
9-Months 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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Call Rates (Yield p a)
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Tenor Low Bid High Bid Low Offer High Offer Average
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Overnight 0.40 0.80 0.60 1.00 0.70
1-Week 0.80 1.00 1.20 1.40 1.10
2-Week 1.10 1.30 1.50 1.70 1.40
1-Month 1.60 1.80 2.00 2.20 1.90
2-Month 1.80 2.00 2.20 2.40 2.10
3-Month 2.00 2.20 2.40 2.60 2.30
4-Month 2.00 2.20 2.40 2.60 2.30
5-Month 2.10 2.30 2.50 2.70 2.40
6-Month 2.20 2.40 2.60 2.80 2.50
9-Month 2.40 2.60 2.80 3.00 2.70
1-Year 2.60 2.80 3.00 3.20 2.90
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RUPEE IN LAHORE: The rupee remained weak and further lost its value by five-paisa in relation to the greenback on the local currency markets on Thursday.
The dollar's demand remained intact which helped appreciation in its worth against the rupee.
The dollar resumed trading at Rs 58.70 and Rs 58.80 as its buying and selling rates, respectively, as compared with the overnight closing rates of Rs 58.65 and Rs 58.75. The opening rates continued to prevail throughout the day, the dealers said.
On the contrary, the rupee registered improvement in its worth against the pound sterling.
The pound was purchased at Rs 103.85 and was sold at Rs 104.25 against Rs 104.40 and Rs 104.80 of Wednesday, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The buying and selling rates of dollar against the rupee remained unchanged on the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs 58.45 (buying) and Rs 58.55 (selling) against the same previous rates. It did not observe any further change in the second session and closed at Rs 58.45 (buying) and Rs 58.55 (selling).
Pound sterling opened at Rs 103.20 (buying) and Rs 103.40 (selling) against the same last rates. It did not witness any further change in the evening session and closed at Rs 103.20 (buying) and Rs 103.40 (selling).
Canadian dollar opened at Rs 42 (buying) and Rs 42.10 (selling) against the same overnight value. It did not observe any further change in the second spell and closed at Rs 42 (buying) and Rs 42.10 (selling).
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