THE RUPEE: dollar higher

Declining trend was seen on the currency market on Thursday as the rupee drifted lower in terms of dollar in process of trading, experts said. The rupee gave up its firmness, shedding 11 paisa in terms of dollar for buying and selling at 85.93 and 85.95, they said.
INTER-BANK MARKET RATES: In the fourth Asian trade US dollar was on the run after a ratings warning from Moody's and a hint of further policy easing from the Federal Reserve unleashed a wave of panic selling, much to the relief of the hard-pressed euro. As fiscal problems hurt not just the euro but also the dollar, traders looked to the Swiss franc as a likely safe haven for investors, boosting the currency to a record high against dollar and euro.
Indian rupee was trading at Rs 44.52 versus dollar, Malaysian ringgit was at 3.0015 in terms of the greenback and Chinese yuan was available at 6.459 in relation to dollar.
OPEN MARKET RATES: The rupee managed to hold the overnight levels against dollar for the fourth day in a row for buying and selling at 86.00 and 86.20, they added. The rupee depreciated against euro, dropping Rs 1.21 for buying at Rs 122.20 and shed Rs 1.51 for selling at Rs 123.00, 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 Thursday.

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Buying          Rs.85.93

Selling         Rs.85.95

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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      13.90      13.90      13.90        13.95     13.91

1-Week         12.90      13.50      13.50        13.60     13.38

2-Week         13.00      13.40      13.40        13.45     13.31

1-Month        13.00      13.35      13.35        13.40     13.28

2-Months       13.10      13.35      13.40        13.45     13.33

3-Months       13.15      13.35      13.40        13.45     13.34

4-Months       13.15      13.40      13.40        13.50     13.36

5-Months       13.20      13.45      13.45        13.55     13.41

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      13.90      13.90      13.90        13.95     13.91

1-Week         13.00      13.60      13.50        13.65     13.44

2-Week         13.10      13.45      13.45        13.55     13.39

1-Month        13.15      13.40      13.40        13.45     13.35

2-Months       13.15      13.45      13.40        13.50     13.38

3-Months       13.20      13.50      13.45        13.60     13.44

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 Pak rupee showed strength and gained five-paisa on buying side while it remained unchanged on the selling side in relation to the greenback in the local currency market on Thursday.
According to the currency dealers, dollar commenced trading at overnight closing of Rs 85.95 and Rs 86.10 as its buying and selling rates, respectively. The dollar was marginally declined to Rs 85.90 on buying side while its selling rate remained intact at Rs 86.10, the dealers said.
However, the rupee could not get out of pressure and further declined against the pound sterling. The pound's buying and selling rates were improved from Wednesday closing of Rs 137.30 and Rs 137.70 to Rs 138.20 and Rs 139.00 respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against dollar on the open currency markets of Islamabad and Rawalpindi here on Thursday.The dollar opened at Rs 86.00 (buying) and Rs 86.25 (selling) against same overnight value. It did not under go further change in the second session and closed at Rs 86.00 (buying) and Rs 86.25 (selling).
Pound Sterling opened at Rs 138.30 (buying) and Rs 138.45 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 138.30 (buying) and Rs 138.45 (selling).
Copyright Business Recorder, 2011