The rupee moved in a tight range versus the dollar in the interbank market on Monday for buying and selling at 59.66 and 59.67 as the supplies were enough to meet the demand, dealers said. Satisfactory position on the supply side did not allow the rupee see any side and held its prevailing levels versus the US currency, money experts said.
In the world markets, the dollar drifted lower against the major currencies, dealers said. They said that the dollar shed its losses as the largest than expected the US trade deficit was offset by the prospect of strong growth in the United States.
For the last one week, the dollar lost its luster mainly because of the US trade deficit, third-largest in the history, dealers said. For the last several months, the dollar was reflecting positive trend on expectations of strong growth in the US economy, analysts said.
OPEN MARKET RATES: The rupee most of the time held its last week levels versus the dollar and euro, they said. The rupee maintained its level at 59.05 and 60.05 in process of trading, they said.
Versus the euro, the rupee gained 10 paisa for buying at Rs 73.70, it, however, lost 10 paisa on the selling side at Rs 74.10, they said.
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Kerb Buying Rs 59.95
Kerb Selling Rs 60.05
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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Monday.
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Buying Rs 59.66
Selling Rs 59.67
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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 8.50 8.90 8.75 8.90 8.76
1-Week 7.90 8.10 8.25 8.50 8.19
2-Week 7.80 8.00 8.15 8.25 8.05
1-Month 7.60 8.00 8.10 8.25 7.99
2-Months 7.85 8.00 8.10 8.25 8.05
3-Months 7.75 7.90 8.10 8.25 8.00
4-Months 8.00 8.15 8.20 8.40 8.19
5-Months 8.05 8.20 8.30 8.50 8.26
6-Months 8.10 8.25 8.40 8.60 8.34
9-Months 8.15 8.25 8.40 8.60 8.35
1-Year 8.35 8.50 8.60 8.80 8.56
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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 8.75 9.00 9.00 9.25 9.00
1-Week 8.25 7.75 7.75 8.25 8.00
2-Week 8.25 8.50 8.50 8.75 8.50
1-Month 8.25 8.40 8.65 8.75 8.51
2-Months 8.25 8.75 8.50 9.10 8.65
3-Months 8.30 9.25 8.75 9.50 8.95
4-Months 8.35 9.25 8.80 9.55 8.99
5-Months 8.40 9.30 8.90 9.60 9.05
6-Months 8.50 9.40 9.10 9.65 9.16
9-Months 8.75 9.50 9.35 9.75 9.34
1-Year 9.10 9.60 9.75 9.90 9.59
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RUPEE IN LAHORE: The dollar-rupee parity remained unchanged at previous week closing levels in the local currency markets on Monday.
According to the currency dealers, the dollar's trading commenced at Saturday's closing rates of Rs 60.00 and Rs 60.10 on buying and selling counters, respectively. The dollar witnessed fractional change in its worth during Monday's trading, but finally closed at the opening levels, they added.
However, the rupee marginally appreciated its worth against the pound sterling. The pound's buying rate declined from previous week closing rate of Rs 107.65 to Rs 107.60, while its selling side moved down from Rs 108.05 to Rs 107.90, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: Mixed response was witnessed at currency markets in Islamabad and Rawalpindi. The dollar was slightly down. However, pound made substantial recovery on Monday.
The dollar shed 10 paisa against the rupee at the currency markets in twin cities.
The buying and selling rates of dollar were Rs 59.80 and Rs 60.00 against Rs 59.80 and Rs 60.00, respectively of the last day. It remained the same for the second session and closed at Rs 59.85 (buying) and Rs 60.00 (selling).
Pound sterling opened at Rs 106.35 (buying) and Rs 106.70 (selling). It made handsome gain and closed at Rs 107.50 (buying) and Rs 107.70 (selling), respectively at the closing session.
Euro's selling and buying remained Rs 73.80 and Rs 74, respectively.
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