THE RUPEE: 10 paisa gain

The rupee managed to recover on the interbank market on Wednesday on comfortable supply of dollar, money experts said. The rupee rose by 10 paisa in relation to dollar for buying and selling at 85.80 and 85.85, they said.
INTERBANK MARKET RATES: In the third Asian trade euro regained some ground as short-term players covered short positions ahead of a European Central Bank policy meeting, following a steep fall against the Swiss franc and the dollar after Moody's slashed Portugal's credit rating to junk.
The single currency was lifted by stop-loss buying as well as broad weakness in the dollar, which fell prey to profit-taking after Tuesday's short squeeze with Asian central banks selling it while hedge funds liquidated their longs in dollar/yen. Interbank buy/sell rates for taka against dollar on Wednesday: 74.27/74.31 (previous 74.28/74.29) Call Money Rates: 7.50-12.00 percent (previous 6.00-10.00 percent).
Indian rupee was trading at Rs 44.43 versus dollar, Malaysian ringgit was available at 3.0040 in relation to the greenback and Chinese yuan was at 6.4679 for per dollar.
OPEN MARKET RATES: The rupee maintained the overnight levels for the second day in a row against the US currency for buying and selling at 86.00 and 86.20 for selling, they added. The rupee continued gains, picking up 74 paisa versus euro for buying and selling at Rs 123.33 and Rs 123.83, they said.

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Open Buying     Rs 86.00

Open Selling    Rs 86.20

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

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Buying          Rs 85.80

Selling         Rs.85.85

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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     13.60     13.90      13.90       13.90        13.83

1-Week        12.50     13.35      13.30       13.40        13.14

2-Week        12.75     13.25      13.25       13.30        13.14

1-Month       12.90     13.25      13.25       13.30        13.18

2-Months      13.00     13.35      13.30       13.40        13.26

3-Months      13.10     13.35      13.35       13.45        13.31

4-Months      13.10     13.40      13.35       13.45        13.33

5-Months      13.15     13.40      13.40       13.50        13.36

6-Months      13.25     13.50      13.50       13.60        13.46

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     13.65     13.90      13.90       13.95        13.85

1-Week        12.75     13.40      13.35       13.45        13.24

2-Week        13.00     13.35      13.35       13.40        13.28

1-Month       13.10     13.35      13.35       13.40        13.30

2-Months      13.15     13.40      13.40       13.50        13.36

3-Months      13.15     13.50      13.45       13.60        13.43

4-Months      13.20     13.50      13.50       13.65        13.46

5-Months      13.25     13.55      13.50       13.65        13.49

6-Months      13.30     13.60      13.50       13.65        13.51

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 rupee-dollar parity remained unchanged amid low trading activity in the local currency market on Wednesday.
According to the currency dealers, there was no change in the dollar's demand and supply situation that helped rupee stability in the open market. The dollar was traded at Tuesday closing rates of Rs 86.00 and Rs 86.20 on buying and selling sides, respectively.
However, the rupee showed strength and appreciated its worth against the pound sterling. The pound's buying and selling rates were declined from last day closing of Rs 138.00 and Rs 139.00 to Rs 137.80 and Rs 138.60, respectively, the dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 86.00 (buying) and Rs 86.20 (selling) against same overnight value. It did not observe further change in the second session and closed at Rs 86.00 (buying) and Rs 86.20 (selling).
Pound Sterling opened at Rs 138.40 (buying) and Rs 138.50 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 138.40 (buying) and Rs 138.50 (selling).
Copyright Business Recorder, 2011