THE RUPEE: dollar higher

Strong demand for dollars forced the rupee give up its overnight gains in relation to the greenback on the currency market on Saturday, dealers said. The rupee surrendered its overnight rising tempo, losing 26 paisa versus dollar for buying and selling at 85.01 and 85.06, they said.
INTERBANK MARKET RATES: Payments for the import of oil to meet the country's requirements, trashed out the rupee's gain versus dollar, they said. At the weekend the US dollar strengthened against other currencies after briefly losing ground on news that Egyptian President Hosni Mubarak stepped down, with the greenback's appeal expected to continue given technical factors weighing on the euro. The euro hit a three-week low and as it failed twice to break the $1.35 level, this put even more focus on the downside.
The euro temporarily pared losses after Egyptian President Hosni Mubarak stepped down and handed power over to the Supreme Council of the Armed Forces.
OPEN MARKET RATES: The rupee retained its last levels in terms of dollar for buying and selling at 85.20 and 85.40, they added Meanwhile, the rupee shed 40 paisa in relation to euro for buying and selling at Rs 115.15 and Rs 115.65, they said.

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Open Buying      Rs 85.20

Open Selling     Rs 85.40

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

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Buying           Rs 85.01

Selling          Rs 85.06

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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     13.10       12.10       13.25       12.61

1-Week        11.70     12.95       12.75       13.00       12.60

2-Week        11.90     12.90       12.80       13.00       12.65

1-Month       12.00     12.95       12.90       13.00       12.71

2-Months      12.50     13.20       13.15       13.25       13.03

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     12.00     13.20       12.10       13.25       12.64

1-Week        12.00     13.10       12.75       13.15       12.75

2-Week        12.40     13.10       12.85       13.15       12.88

1-Month       12.60     13.15       13.00       13.20       12.99

2-Months      12.90     13.30       13.25       13.35       13.20

3-Months      13.10     13.50       13.35       13.60       13.39

4-Months      13.25     13.65       13.45       13.75       13.53

5-Months      13.40     13.70       13.50       13.75       13.59

6-Months      13.40     13.75       13.65       13.90       13.68

9-Months      13.50     13.75       13.70       13.90       13.71

1-Year        13.50     13.80       13.75       13.90       13.74

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RUPEE IN LAHORE: The Pak rupee remained unchanged on buying counter (Rs 85.30), while it lost 5-paisa on selling counter (85.55) against the greenback in the open currency markets on Saturday.
According to the currency dealers, the dollar showed strength and recovered some of its earlier loss on account of fresh demand. The dollar resumed trading at Rs 85.30 and Rs 85.55, as its buying and selling rates, as compared to overnight closing rates of Rs 85.30 and Rs 85.50, they said.
On the other hand, the rupee depicted mixed trend in relation to the British pound loosing 40-paisa on buying counter (Rs 136.20) and gaining 20-paisa on selling counter (Rs 136.60). At the close of trading the pound was purchased and sold at Rs 136.20 and Rs 136.60, as compared to overnight closing of Rs 135.80 and Rs 136.80, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar-rupee parity remained unchange at the currency exchange establishments of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 85.95 (buying) and Rs 86.15 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 85.95 (buying) and Rs 86.15 (selling).
Pound Sterling opened at Rs 136.30 (buying) and Rs 136.70 (selling) against the previous rate. 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