THE RUPEE: rates slip on interbank market

The rupee drifted lower against dollar on the interbank market, it however, gained on the open market on Monday as importers were busy in forward deals, dealers said. The rupee extended its week-end fall versus dollar, losing 12 paisa for buying and selling at 85.52 and 85.56, they said.
INTERBANK MARKET RATES: In the first session of Asia, the euro held firm near its highest level in more than 10 days after a European Central Bank official kept alive the prospect of the ECB hiking rates before the Fed. But it lacked the vigour to break above key resistances after Germany's main ruling party suffered a crushing defeat at a regional election in the city-state of Hamburg on Sunday, making it harder for Chancellor Angela Merkel to pass federal legislation. Indian rupee was at Rs 45.19 versus dollar, Malaysian ringgit was trading at 3.0390 in terms of the greenback and Chinese yuan was available at 6.5750 in relation to the US currency.
OPEN MARKET RATES: The rupee, however, rose by 20 paisa in relation to dollar for buying and selling at 85.40 and 85.55, they added. The rupee followed the same patter in terms of euro, gaining 36 paisa for buying and selling at Rs 116.30 and Rs 116.80, they said.

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Open Buying     Rs 85.40

Open Selling    Rs.85.55

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

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Buying          Rs.85.52

Selling         Rs.85.56

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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    11.40      12.00      11.50        12.25       11.79

1-Week       11.60      12.40      12.40        12.60       12.25

2-Week       11.70      12.70      12.65        12.75       12.45

1-Month      11.90      12.80      12.80        12.90       12.60

2-Months     12.50      13.15      13.15        13.25       13.01

3-Months     12.90      13.20      13.20        13.30       13.15

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    11.40      12.00      11.50        12.25       11.79

1-Week       12.00      12.60      12.50        12.70       12.45

2-Week       12.40      12.80      12.70        12.90       12.70

1-Month      12.60      13.00      12.90        13.10       12.90

2-Months     12.90      13.35      13.30        13.40       13.24

3-Months     13.10      13.60      13.40        13.70       13.45

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     13.50      13.75      13.70        13.90       13.71

9-Months     13.60      13.80      13.75        13.95       13.78

1-Year       13.50      13.90      13.80        14.00       13.80

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RUPEE IN LAHORE: The rupee appreciated in relation to dollar in Lahore currency market on Monday.
According to moneychangers, the dollar commenced trading at Rs 86.40 and Rs 86.70 as its buying and selling rates but because of lack of buying support it could not sustain and closed at Rs 85.45 and Rs 85.65 on buying and selling counters respectively.
The rupee also showed strength against pound sterling and gained 30 paisa on buying counter while remained unchanged on selling counter. The pound was purchased and sold at Rs 137.50 and Rs 138.50 as compared to last Saturdays closing of Rs 137.80 and Rs 138.50, respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar-rupee parity remained unchanged at the currency exchange establishments of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs 85.95 (buying) and Rs 86.20 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 85.95 (buying) and Rs 86.20 (selling).
Pound Sterling opened at Rs 136.35 (buying) and Rs 136.75 (selling) against same previous rate. It did not witness any change in the evening session and closed at Rs 136.35 (buying) and Rs 136.75 (selling).
Copyright Business Recorder, 2011