THE RUPEE: dollar higher

The rupee held the weekend levels against dollar on the interbank while it drifted lower on the open market on Monday, dealers said. The rupee was unchanged against the US currency for buying and selling at 85.74 and 85.78 in process of trading, they said.
In the first Asian trade euro slid to a two-week low, looking vulnerable to more losses against dollar after breaching chart support the previous day, while the greenback was helped by rising tensions in the Korean Peninsula.
INTERBANK MARKET RATES: The euro, which was pressured by a five-notch downgrade of Ireland's sovereign credit rating on Friday, was within reach of support at $1.3100-3090, a retracement level and its 200-day moving average.
Till mid-morning Indian rupee fell to its lowest level in three weeks, weighed down by a weak euro, Asian peers and modestly lower domestic stocks. At 10:41 am (0511 GMT) the partially convertible rupee was changing hands at 45.5050/52 per dollar after falling to 45.66, its lowest level since December 1. It ended at 45.34/35 per dollar on Thursday. Malaysian ringgit versus dollar was available at 3.1440 and Chinese yuan was trading at 6.6656 in relation to the greenback.
OPEN MARKET RATES: The rupee dropped by 10 paisa against dollar for buying 85.70 and by five paisa for selling at 85.85, they said. The rupee gained 20 paisa in relation to euro for buying and selling at Rs 112.25 and Rs 112.75, they said.

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Open Buying      Rs 85.74

Open Selling     Rs 85.78

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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.

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Buying           Rs 85.70

Selling          Rs 85.85

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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    12.50     13.90       12.75        13.90       13.26

1-Week       11.50     12.75       12.60        12.80       12.41

2-Week       11.60     12.70       12.70        12.85       12.46

1-Month      11.90     12.75       12.75        12.90       12.58

2-Months     12.20     12.85       12.80        12.95       12.70

3-Months     12.55     13.10       13.05        13.20       12.98

4-Months     12.70     13.10       13.10        13.25       13.04

5-Months     12.75     13.20       13.20        13.35       13.13

6-Months     13.00     13.30       13.25        13.40       13.24

9-Months     13.10     13.40       13.30        13.60       13.35

1-Year       13.25     13.50       13.40        13.60       13.44

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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    12.50     13.90       12.75         13.95      13.28

1-Week       11.70     12.90       12.75         13.00      12.59

2-Week       12.10     13.10       12.75         13.25      12.80

1-Month      12.40     13.10       12.90         13.25      12.91

2-Months     12.50     13.40       13.20         13.50      13.15

3-Months     12.75     13.50       13.25         13.75      13.31

4-Months     12.80     13.50       13.30         13.75      13.34

5-Months     13.00     13.50       13.40         13.75      13.41

6-Months     13.10     13.60       13.40         13.90      13.50

9-Months     13.25     13.60       13.50         13.90      13.56

1-Year       13.25     13.75       13.60         14.00      13.65

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RUPEE IN LAHORE: The rupee remained unchanged against dollar in Lahore currency market on Monday.
According to moneychangers, the dollar was traded at Rs 85.65 and Rs 85.80 as its buying and selling rates, respectively.
However, the rupee lost against British pound, which was purchased and sold at Rs 134.00 and Rs 135.00 as compared to previous Rs 133.50 and Rs 134.50, moneychangers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar resumed trading at Rs 85.50 (buying) and Rs 85.80 (selling) against last rate of Rs 86.20 (buying) and Rs 86.30 (selling). It did not observe further change in the evening session and closed at Rs 85.50 (buying) and Rs 85.80 (selling).
Pound Sterling opened at Rs 136.20 (buying) and Rs 136.60 (selling) in the morning session. It did not observe further change in the last trading hours and closed at Rs 136.20 (buying) and Rs 136.60 (selling).
Copyright Business Recorder, 2010