THE RUPEE: dollar up

The rupee moved was lower against dollar in interbank trade and euro on the currency market on Saturday in process of trading, dealers said. The rupee shed eight paisa in relation to dollar for buying at 85.40 and lost 11 paisa for selling 85.45, they said.
INTERBANK MARKET RATES: At the weekend, the addition of more than 200,000 US jobs wasn't enough to boost dollar against euro on Friday, and the greenback may have more losses in store as markets brace for a euro zone interest rate hike next week. The employment report, which also showed the US jobless rate slipping to 8.8 percent last month, did push the dollar above 84 yen, its highest in more than six months, as traders expect Japanese interest rates to stay at a record low. New York Federal Reserve President William Dudley upended a dollar rally against euro, though, when he said he saw no reason to adjust the central bank's loose monetary policy despite the encouraging jobs data.
OPEN MARKET RATES: The rupee maintained its overnight value against dollar for buying and selling at 85.15 and 85.35, they added.
While, the rupee failed to retain its overnight firmness versus euro for buying and selling at Rs 120.54 and Rs 121.04, they said.

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Open Buying     Rs 85.40

Open Selling    Rs 85.45

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

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Buying          Rs 85.15

Selling         Rs 85.35

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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      13.25     13.90     13.60      13.90         13.66

1-Week         11.50     13.50     13.40      13.60         13.00

2-Week         11.60     13.20     13.25      13.40         12.86

1-Month        11.90     13.20     13.25      13.30         12.91

2-Months       12.40     13.25     13.25      13.35         13.06

3-Months       12.90     13.25     13.30      13.40         13.21

4-Months       13.00     13.30     13.30      13.45         13.26

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      13.50     13.90     13.75       13.95        13.78

1-Week         12.30     13.60     13.40       13.70        13.25

2-Week         12.40     13.50     13.35       13.60        13.21

1-Month        12.70     13.40     13.35       13.50        13.24

2-Months       13.00     13.45     13.35       13.50        13.33

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 Pak rupee marginally improved by five-paisa against the dollar in the local currency market on Saturday.
According to the currency dealers, because of the weekend, the dollar slightly remained under pressure and ended lower at Rs 85.15 and Rs 85.35 on buying and selling sides against the overnight closing of Rs 85.20 and Rs 85.40, respectively.
The rupee showed stability and remained unchanged against the British pound. The pound's buying and selling rates remained intact at its Friday closing of Rs 136.50 and Rs 137.30, respectively. However, there was difference of 20-paisa in buying rate at different money exchanges, as a few dealers quoted it as Rs 136.70.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained unchanged against the rupee at the open currency markets of Islamabad and Rawalpindi here on Saturday.
The dollar resumed trading at Rs 85.30 (buying) and Rs 85.40 (selling) against the same last rate. It did not observe further change in the evening session and closed at Rs 85.30 (buying) and Rs 85.40 (selling).
Pound Sterling opened at Rs 136.40 (buying) and Rs 137.50 (selling) against the same previous rate. It did not witness any change in the evening session and closed at Rs 136.40 (buying) and Rs 137.50 (selling).
Copyright Business Recorder, 2011