THE RUPEE: all-round fall

The rupee drifted lower in terms of dollar and euro on the currency market on Friday in process of strong demand for the greenback, dealers said.
INTERBANK MARKET RATES: The rupee gave up over night firmness in relation to the dollar, losing nine paisa for buying at 87.24 and shed seven paisa for selling at 87.27, they said.
In the final Asian trade euro clung to its gains of the past three sessions, helped by short-covering after the European Central Bank took steps to keep banks afloat and on hopes of more policy measures to boost their capital.
Still, entrenched scepticism over the euro zone's ability to pull together a timely response to the debt and banking crisis kept many players ready to sell euro into rallies.
Japanese exporters have been steadily shedding euro this week, including on Friday, keeping the currency in check, while commodity currencies gained slightly on the back of easing fears over the euro zone's debt malaise.
The dollar was trading versus the Indian rupee at Rs 49.20, the greenback was available in terms of the Malaysian ringgit at 3.1580 and the US currency was at 6.3780 in relation to the Chinese yuan.
OPEN MARKET RATES: The rupee extended its fall, shedding 10 paisa more versus dollar for buying and selling at 88.40 and 88.80, they added.
The rupee also lost 93 paisa in relation to euro for buying and selling at Rs 119.18 and Rs 119.68, they said.

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Open Buying     Rs 87.24

Open Selling    Rs 87.27

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

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Buying          Rs 88.40

Selling         Rs 88.80

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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     13.40     13.40      13.40       13.45        13.41

1-Week        13.20     13.35      13.25       13.40        13.30

2-Week        12.80     13.00      13.10       13.20        13.03

1-Month       12.70     12.85      12.85       13.00        12.85

2-Months      12.65     12.80      12.85       12.90        12.80

3-Months      12.60     12.80      12.80       12.90        12.78

4-Months      12.60     12.75      12.80       12.90        12.76

5-Months      12.60     12.75      12.75       12.85        12.74

6-Months      12.60     12.75      12.80       12.80        12.74

9-Months      12.60     12.75      12.80       12.85        12.75

1-Year        12.60     12.80      12.80       12.90        12.78

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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     13.40     13.40      13.40       13.45        13.41

1-Week        13.20     13.35      13.25       13.40        13.30

2-Week        12.85     13.05      13.00       13.15        13.01

1-Month       12.75     12.90      12.95       12.05        12.66

2-Months      12.75     12.90      12.90       13.00        12.89

3-Months      12.75     12.90      13.00       13.10        12.94

4-Months      12.75     13.00      13.00       13.10        12.96

5-Months      12.80     13.00      12.90       13.10        12.95

6-Months      12.80     13.00      12.90       13.10        12.95

9-Months      12.80     13.00      13.00       13.20        13.00

1-Year        12.85     13.10      13.15       13.25        13.09

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RUPEE IN LAHORE: The rupee lost 10 paisa on buying side and was unchanged on selling side against dollar in partially open market in Lahore on Friday.
A number of currency dealers observed strike in response to Sunni Ittehad Council's call against the decision of Anti Terrorist Court that awarded death sentence to the murderer of Punjab Governor Salman Taseer. Dealers quoted Rs 88.60 and Rs 89.00 as dollar's buying and selling rates against the overnight closing of Rs 88.50 and Rs 89.00, respectively.
However, the rupee declined against pound sterling, whose buying and selling rates increased from Thursday closing of Rs 137.00 and Rs 138.00, to Rs 137.50 and Rs 138.50 respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee remained firm against dollar at the currency markets of Islamabad and Rawalpindi on Friday.
The dollar opened at Rs 88.50 (buying) and Rs 88.60 (selling) against same last rates. It did not observe further change in the second session and closed at Rs 88.50 (buying) and Rs 88.60 (selling).
Pound sterling opened at Rs 137.80 (buying) and Rs 137.90 (selling) against same overnight values. It did not observe further change in the evening session and closed at Rs 137.80 (buying) and Rs 137.90 (selling).
Copyright Business Recorder, 2011