THE RUPEE: all-round fall

All-round decline was seen on the currency market on Monday during the higher demand for dollars, dealers said. The rupee was down by three paisa in relation to dollar for buying at 85.82 and it shed two paisa for selling at 85.86, they said.
INTERBANK MARKET RATES: In the first session of Asia the Australian dollar dipped after China's central bank raised rates at the weekend, and some analysts say the chance of more tightening in China could prompt investors to sell the Aussie after the year-end holidays. The yen also hit a three-week high against dollar, although thin trading conditions are likely to have exaggerated price moves. While the market had been expecting Beijing to tighten further, the timing was a surprise as there had been doubts whether it would raise rates before the end of the year.
Indian rupee was available at Rs 45.22 versus dollar, Malaysian ringgit was trading at 3.0930 in relation the US currency and Chinese yuan was at 6.6307 in terms of the greenback.
Interbank buy/sell rates for taka against dollar on Monday: 70.69/70.70 (previous 70.69/70.70). Call Money Rates: 16.00-20.00 percent (previous 8.0-22.50 percent).
OPEN MARKET RATES: The rupee failed to maintain its firmness versus dollar, losing 10 paisa for buying and selling at 85.70 and 85.90, they said. The rupee followed the same path versus euro, falling 40 paisa for buying and selling at Rs 112.35 and Rs 112.85, they added.

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Open Buying      Rs 85.70

Open Selling     Rs 85.90

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

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Buying           Rs 85.82

Selling          Rs.85.86

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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     12.40      13.90     12.50        13.90       13.18

1-Week        11.60      13.10     12.90        13.20       12.70

2-Week        11.65      13.00     12.90        13.10       12.66

1-Month       11.90      13.00     12.90        13.05       12.71

2-Months      12.25      13.00     12.80        13.10       12.79

3-Months      12.60      13.15     13.10        13.25       13.03

4-Months      12.70      13.15     13.10        13.25       13.05

5-Months      12.75      13.20     13.20        13.35       13.13

6-Months      13.05      13.30     13.25        13.40       13.25

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     12.60        13.90       13.23

1-Week        12.50      13.50     13.25        13.75       13.25

2-Week        12.25      13.40     13.25        13.60       13.13

1-Month       12.50      13.25     13.10        13.40       13.06

2-Months      12.75      13.40     13.20        13.50       13.21

3-Months      12.80      13.50     13.25        13.75       13.33

4-Months      12.90      13.50     13.30        13.75       13.36

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 showed strength and appreciated its worth in relation to the greenback in the local kerb on Monday.
According to currency dealers, the dollar commenced trading at Rs 85.70 (buying) and Rs 85.90 (selling) but in the absence of buying support, it could not sustain. The dollar was slide down and finally ended at Rs 85.65 and Rs 85.80 on buying and selling sides, respectively, the dealers said.
Likewise, the rupee opened on a positive sign and appreciated its worth against the pound sterling. The pound sterling was traded at Rs 132.30 and Rs 133.20 as its buying and selling rates, as compared to last Friday's closing at Rs 132.50 and Rs 133.50, respectively, they added.
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