THE RUPEE: dollar sharply up

The rupee drifted lower against dollar, it, however, appreciated versus euro on the currency market on Saturday, dealers said. The rupee fell by 30 paisa in relation to dollar for buying and selling at 85.65 and 85.70, they said.
INTERBANK MARKET RATES: At the weekend the Swiss franc headed for its biggest two-week advance against dollar in eight months on Friday and looked set to extend gains as turmoil in Libya and fears of contagion drove investors to safe-haven assets. The US dollar rebounded against euro and other currencies, helped by a retreat in oil prices after Saudi Arabia stepped up crude supply. The inverse relationship between the greenback and oil has strengthened this week.
Uncertainty over the situation in the Middle East and Africa remains high as investors fear the uprising in Libya could spread to other oil-producing countries. A spike in energy prices could weigh on US consumer spending and crimp global economic growth.
OPEN MARKET RATES: The rupee shed five paisa against dollar for buying at 85.45 and it also came down after shedding 10 paisa for selling at 85.65, they added. The rupee, however, recovered 52 paisa in relation to euro for buying and selling at Rs 117.09 and Rs 117.59, they said.

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Open Buying     Rs 85.45

Open Selling    Rs.85.65

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

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Buying          Rs.85.65

Selling         Rs.85.70

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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      13.50      12.75       13.50       13.06

1-Week        11.70      12.95      12.95       13.10       12.68

2-Week        11.80      12.85      12.90       13.00       12.64

1-Month       12.05      12.95      12.95       13.00       12.74

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     12.75      13.50      13.00       13.60       13.21

1-Week        12.00      13.10      13.00       13.20       12.83

2-Week        12.40      13.20      13.00       13.25       12.96

1-Month       12.60      13.30      13.10       13.40       13.10

2-Months      12.90      13.40      13.30       13.50       13.28

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 stayed unchanged in relation to the greenback amid low trading activity in the local currency market on Saturday.
According to the moneychangers, there was no visible change in the dollar's demand and supply situation that helped rupee stability in the open market. The dollar commenced trading at Friday closing of Rs 85.40 and Rs 85.60 on buying and selling sides, respectively. The dollar witnessed fractional change during the day but finally ended at the opening level, the dealers said.
On the contrary, the rupee failed to maintain its day earlier level and lost its worth against the pound sterling. The pound was traded at Rs 137.00 and Rs 138.00, as compared to last day closing of Rs 136.60 and Rs 137.50, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar-rupee parity remained unchanged at the currency exchange establishments of Islamabad and Rawalpindi here on Saturday.
The dollar opened at Rs 85.90 (buying) and Rs 86.20 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 85.90 (buying) and Rs 86.20 (selling).
Pound Sterling opened at Rs 136.35 (buying) and Rs 136.75 (selling) against the last 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