THE RUPEE: dollar at eight-month low

The absence of high oil payments, healthier inflows aided the rupee to hit eight-month high in relation to the US currency, dealers said. Some experts said that the rupee strengthened versus dollar, gaining 27 paisa for buying and selling at 85.25 and 85.29. They also said that the rupee may be able to retain its present trend in the coming days owing to the said reasons.
INTERBANK MARKET RATES: During the second Asian session of the current week, euro edged off a two-week low but lacked momentum after a drubbing the previous day when weak German industrial data further dampened expectations for a near-term euro zone rate hike. But with more Asian market players returning from Lunar New Year holidays, traders remained wary of more potential euro buying by Asian central banks after they helped push euro higher on Monday.
Indian rupee was at Rs 45.48 in relation to the US currency, Malaysian ringgit was available at 3.0325 in terms of the greenback and Chinese yuan was trading at 6.5938 versus dollar.
OPEN MARKET RATES: The rupee appreciated versus dollar, rising 10 paisa for buying at 85.60 while it rose by five paisa for selling at 85.75, they added. The rupee extended its gains against euro, rising 20 paisa for buying and selling at Rs 115.75 and Rs 116.25, they said.

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Open Buying      Rs 85.60

Open Selling     Rs 85.75

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

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Buying           Rs 85.25

Selling          Rs.85.29

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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    11.10       11.75       11.25       11.90      11.50

1-Week       11.50       12.30       12.25       12.40      12.11

2-Week       11.60       12.55       12.50       12.65      12.33

1-Month      11.85       12.80       12.80       12.90      12.59

2-Months     12.40       13.15       13.15       13.25      12.99

3-Months     12.90       13.25       13.20       13.30      13.16

4-Months     13.00       13.30       13.25       13.35      13.23

5-Months     13.20       13.45       13.40       13.50      13.39

6-Months     13.35       13.50       13.45       13.55      13.46

9-Months     13.40       13.60       13.50       13.65      13.54

1-Year       13.45       13.60       13.55       13.65      13.56

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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    11.10       11.90       11.25       12.00      11.56

1-Week       12.00       12.50       12.40       12.60      12.38

2-Week       12.25       12.75       12.75       12.85      12.65

1-Month      12.40       13.00       12.90       13.10      12.85

2-Months     12.75       13.30       13.25       13.35      13.16

3-Months     13.00       13.40       13.30       13.50      13.30

4-Months     13.10       13.65       13.45       13.75      13.49

5-Months     13.20       13.70       13.50       13.75      13.54

6-Months     13.30       13.75       13.65       13.90      13.65

9-Months     13.30       13.75       13.70       13.90      13.66

1-Year       13.40       13.80       13.75       13.90      13.71

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RUPEE IN LAHORE: The rupee showed strength and appreciated its worth by 10-paisa on buying counter (Rs 85.60), while remained unchanged on selling counter (Rs 85.80) against the dollar in the local currency markets on Tuesday.
According to the moneychangers, sufficient dollar supply helped rupee to appreciate its worth by 10-paisa on buying side. The dollar resumed trading at Rs 85.70 and Rs 85.80, as its buying and selling rates. At the end of trading, the dollar was closed at Rs 85.60 and Rs 85.80 on buying and selling counters, respectively, they added.
On the contrary the local currency remained under pressure on buying side, while it remained unchanged on selling side against the Pound sterling. The pound was purchased and sold at Rs 137.50 and Rs 138.00, as compared to overnight closing of Rs 137.30 and Rs 138.00, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar-rupee parity remained unchanged at the currency exchange establishments of Islamabad and Rawalpindi on Tuesday.
The dollar opened at Rs 85.90 (buying) and Rs 86.10 (selling) against same last rates. It did not observe further change in the evening session and closed at Rs 85.90 (buying) and Rs 86.10 (selling).
Pound sterling opened at Rs 136.30 (buying) and Rs 136.70 (selling) against same previous rates. It did not witness any change in the evening session and closed at Rs 136.30 (buying) and Rs 136.70 (selling).
Copyright Business Recorder, 2011