Firm trend was seen on the local currency market on Wednesday as dollars' supply was satisfactory, experts said. On the interbank market the rupee appreciated by 13 paisa against dollar for buying and selling at 84.25 and 84.30, they said. In the open market trading dollar gained five paisa for buying.
In the third Asian session yen slipped, reversing direction after players disappointed by only a modest easing step by the Bank of Japan tried to drive it higher and ran into a wall of selling. After pressure from the government for action to beat deflation, the BoJ decided in a 5-2 vote to double the size of a fixed rate fund supply tool adopted in December to 20 trillion yen ($222 billion). But kept the loan duration at three months, instead of six months as some expected.
OPEN MARKET RATES: The rupee drifted lower by five paisa against dollar for buying at 84.50 while it did not show any change for selling at 84.60, dealers said. The rupee managed to gain 90 paisa in relation to euro for buying and selling at Rs 116.05 and Rs 116.55, they added.
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Buying Rs 84.25
Selling Rs.84.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Open Buying Rs.84.50
Open Selling Rs.84.60
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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 12.00 12.35 12.10 12.40 12.21
1-Week 11.50 12.05 12.05 12.15 11.94
2-Week 11.55 12.05 12.05 12.15 11.95
1-Month 11.60 12.05 12.10 12.15 11.98
2-Months 11.75 12.05 12.05 12.15 12.00
3-Months 11.80 12.10 12.05 12.15 12.03
4-Months 11.85 12.10 12.10 12.15 12.05
5-Months 11.90 12.10 12.10 12.20 12.08
6-Months 11.90 12.15 12.10 12.20 12.09
9-Months 11.95 12.15 12.10 12.20 12.10
1-Year 12.00 12.20 12.10 12.25 12.14
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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 12.00 12.35 12.10 12.40 12.21
1-Week 11.70 12.15 12.10 12.20 12.04
2-Week 11.80 12.15 12.10 12.20 12.06
1-Month 11.90 12.15 12.10 12.20 12.09
2-Months 11.90 12.15 12.15 12.20 12.10
3-Months 11.90 12.20 12.15 12.25 12.13
4-Months 12.00 12.20 12.15 12.25 12.15
5-Months 12.00 12.25 12.10 12.30 12.16
6-Months 12.00 12.25 12.15 12.30 12.18
9-Months 12.10 12.25 12.20 12.30 12.21
1-Year 12.15 12.30 12.25 12.40 12.28
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RUPEE IN LAHORE: The Pak rupee opened on a depressed note and lost its worth against the greenback and the pound sterling in the local currency market on Wednesday.
According to the currency dealers, the rupee failed to maintain its position and slide down against the greenback by 10-paisa on buying side and 15-paisa on selling side. At the end of trading, the dollar was closed higher at Rs 84.45 and Rs 84.70 against the overnight closing of Rs 84.35 and Rs 84.55, as its buying and selling rates, respectively, the dealers said.
Similarly, the rupee maintained downward trend and further declined against the pound sterling. The pound was purchased and sold at Rs 128.50 and Rs 129.50, as compared to 127.20 and Rs 127.50, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against the dollar at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 84.20 (buying) and Rs 84.30 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 84.20 (buying) and Rs 84.30 (selling).
Pound Sterling opened at Rs 126.60 (buying) and Rs 127.60 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 126.60 (buying) and Rs 127.60 (selling).
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