Firm trend was again witnessed in the interbank market on Thursday as the rupee managed to hold its overnight levels for buying and selling at 59.34 and 59.35, respectively. According to the market sources, the rupee showed steadier trend in terms of the dollar on smooth supply of the US currency. They expect that the rupee may maintain its firmness in the coming days amid balanced demand and supply position. Buyers seemed not interested in the dollars due to light fluctuations in its value, they added.
Several small investors appeared attracted by the lucrative business in the share market as it hit new high on privatisation hopes, dealers said.
According the Reuters, the privatisation plans encouraged heavy buying in energy sector stocks as the Karachi share market leapt 290.59 points on Thursday, its largest single-day gain.
In the world markets, the dollar posted fresh gains versus the leading currencies ahead of the employment report, dealers said.
OPEN MARKET RATES: The rupee failed to sustain its overnight firmness, losing five paisa for buying at 59.55 while it maintained its overnight level for selling at 59.60, dealers said.
The rupee fluctuated slightly in relation to the euro for buying and selling at Rs 78.25 and Rs 78.55, they said.
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Kerb Buying Rs 59.55
Kerb Selling Rs 59.60
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Wednesday.
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Buying Rs 59.34
Selling Rs 59.35
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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 1.00 3.50 2.00 4.00 2.63
1-Week 2.25 2.50 3.00 3.50 2.81
2-Week 3.25 3.50 3.75 4.00 3.63
1-Month 3.75 4.00 4.25 4.50 4.13
2-Months 4.00 4.25 4.50 4.75 4.38
3-Months 4.25 4.50 4.75 5.00 4.63
4-Months 4.50 4.90 5.00 5.50 4.98
5-Months 4.75 5.00 5.50 5.75 5.25
6-Months 5.00 5.50 5.75 6.00 5.56
9-Months 5.50 5.75 6.00 6.25 5.88
1-Year 6.00 6.25 6.50 6.75 6.38
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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 3.00 4.00 4.50 6.00 4.38
1-Week 3.50 4.00 4.50 5.00 4.25
2-Week 4.00 4.50 4.75 5.00 4.56
1-Month 4.25 4.50 5.00 5.25 4.75
2-Month 4.40 4.60 5.00 5.25 4.81
3-Month 5.00 5.50 5.75 6.00 5.56
4-Month 5.25 5.50 6.00 6.20 5.74
5-Month 5.50 5.75 6.25 6.50 6.00
6-Month 5.75 6.00 6.50 7.00 6.31
9-Month 6.00 6.25 6.75 7.25 6.56
1-Year 6.50 6.75 7.25 7.75 7.06
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RUPEE IN LAHORE: The rupee failed to maintain its overnight position and depreciated its worth by 10-paisa on buying side at Rs 59.50 and 8-paisa on selling side at Rs 59.58 in relation to the greenback in the local currency markets on Thursday.
According to currency dealers, the dollar resumed trading at Rs 59.45 and Rs 59.55 as its buying and selling rates, respectively. As a result of increase in dollar's demand, its rate started moving up and finally closed higher at Rs 59.50 and Rs 59.58 on buying and selling counters, respectively, as against Rs 59.40 and Rs 59.50 of Wednesday, the dealers added.
Similarly, the local currency remained under pressure against the British pound. The Pak rupee registered loss against the pound sterling, which was purchased at Rs 113.65 and was, sold at Rs 114.00 as compared to Rs 113.40 and Rs 113.90 of Wednesday, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi on Thursday.
The dollar opened at Rs 59.45 (buying) and Rs 59.55 (selling) against same last rate. It did not observe any further change in the second spell and closed at Rs 59.45 (buying) and Rs 59.55 (selling).
Pound sterling opened at Rs 114 (buying) and Rs 114.20 (selling) against same previous rate. It did not observe any change in the second spell and closed at Rs 114 (buying) and Rs 114.20 (selling).
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