THE RUPEE: range-bound changes

Range-bound trading was seen on the money market on Friday as the rupee moved but little versus dollar, experts said. The rupee gained two paisa in relation to dollar for buying at 85.81 and it also inched up by one paisa for selling at 85.86, they said.
INTERBANK MARKET RATES: In the final Asian trade euro fell, inching closer to a three-week low versus dollar on worries on how policy makers will tackle Greece's debt crisis with no apparent solution in sight. Investor risk appetite also waned as share prices across Asia slumped and after weak US regional manufacturing data cemented concerns about a soft patch in the US economy.
"For investor risk appetite to come back, we'll need a recovery in US economic data and the prospect of an end to Greece's debt crisis. None of which is there at the moment," said Koji Fukaya, chief FX strategist at Credit Suisse.
The single currency fell 0.4 percent to $1.4137 in Asia, edging closer to an overnight trough of $1.4073, its lowest in three weeks. China's yuan closed flat against dollar on Friday, meaning it has now gained more than 5.4 percent in the year since it was unshackled from a de facto dollar peg, a quicker gain than analysts had expected at the time. In relation to the greenback the Chinese yuan was at 6.466. Indian rupee was trading at Rs 44.90 versus dollar and Malaysian ringgit was at 3.0450 in terms of dollar.
OPEN MARKET RATES: The rupee retained the overnight level versus dollar for buying at 86.10 while it shed 10 paisa for selling at 86.30, they added. The rupee gave up its surge in relation to euro, losing Rs 1.59 for buying and selling at Rs 122.78 and Rs 123.28, they said

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Open Buying     Rs 85.81

Open Selling    Rs 85.86

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

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Buying          Rs 86.10

Selling         Rs 86.30

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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     12.75     13.50       13.00       13.75       13.25

1-Week        12.25     13.30       13.25       13.35       13.04

2-Week        12.50     13.30       13.30       13.35       13.11

1-Month       12.75     13.25       13.25       13.30       13.14

2-Months      12.80     13.25       13.25       13.35       13.16

3-Months      12.90     13.30       13.25       13.35       13.20

4-Months      13.00     13.35       13.30       13.40       13.26

5-Months      13.10     13.35       13.35       13.40       13.30

6-Months      13.25     13.45       13.40       13.50       13.40

9-Months      13.30     13.60       13.60       13.70       13.55

1-Year        13.40     13.65       13.65       13.75       13.61

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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       13.75       13.25

1-Week        12.75     13.40       13.30       13.45       13.23

2-Week        12.90     13.50       13.35       13.55       13.33

1-Month       13.00     13.40       13.50       13.50       13.35

2-Months      12.95     13.35       13.30       13.40       13.25

3-Months      13.10     13.35       13.30       13.40       13.29

4-Months      13.10     13.35       13.30       13.40       13.29

5-Months      13.25     13.50       13.40       13.60       13.44

6-Months      13.30     13.60       13.45       13.65       13.50

9-Months      13.50     13.70       13.60       13.75       13.64

1-Year        13.50     13.75       13.60       13.90       13.69

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RUPEE IN LAHORE: The Pak rupee continued downward trend and further lost 10-paisa against the dollar in the open market on Friday.
According to the currency dealers, the dollar's demand remained intact that helped its appreciation against the rupee in the local market. Amid fresh buying, the dollar's rate was increased to Rs 86.20 and Rs 86.40 on buying and selling side against the overnight closing of Rs 86.10 and Rs 86.30, respectively.
On the contrary, the rupee could not maintain upward slide and depreciated its worth against the pound sterling. The pound was purchased and sold at Rs 139.70 and Rs 140.70, as compared to previous closing of Rs 139.30 and Rs 140.30, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained firm against the rupee at the open currency markets of Islamabad and Rawalpindi here on Friday.
The dollar resumed trading at Rs 85.55 (buying) and Rs 85.75 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 85.55 (buying) and Rs 85.75 (selling).
Pound Sterling opened at Rs 136.20 (buying) and Rs 136.65 (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