THE RUPEE: dollar up on interbank market

The dollar continued its ride over the rupee's weakness in the interbank market on Tuesday in process of trading, dealers said. The rupee extended its fall versus the greenback due to strong dollar demand, losing nine paisa for buying at 86.74 and shedding eight paisa for selling at 86.78, they said.
INTERBANK MARKET RATES: In the second Asian trade euro dipped, stuck near the bottom of its recent trading range after a rise in Italian and Spanish bond yields underscored the challenges facing European leaders as they struggle to contain the region's debt crisis.
The dollar briefly spiked higher against yen but later gave back most of its gains. Traders said the move was likely caused by a large-lot flow and stop-loss buying, and was probably not intervention. The euro had gained some reprieve in recent sessions as a change in leadership in Italy and Greece stirred hopes for progress in tackling Europe's debt problems.
The dollar was trading at Rs 50.6250 against the Indian rupee, the greenback was at 3.1535 in relation to the Malaysian ringgit and it was available at 6.3519 against the Chinese yuan.
OPEN MARKET RATES: The rupee did not move any sice for the second day in a row versus dollar for buying and selling at 86.40 and 86.70, they said. The rupee managed to gain sharply in terms of euro, picking up Rs 1.36 for buying at Rs 117.11 and rose by Rs 1.32 for selling at Rs 117.61, they said.

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Open Buying     Rs 86.40

Open Selling    Rs 86.70

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

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Buying          Rs.86.74

Selling         Rs.86.78

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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    11.50      11.90       11.75       11.90       11.76

1-Week       11.60      11.80       11.80       11.90       11.78

2-Week       11.65      11.75       11.80       11.90       11.78

1-Month      11.65      11.75       11.80       11.90       11.78

2-Months     11.65      11.80       11.80       11.90       11.79

3-Months     11.65      11.80       11.80       11.90       11.79

4-Months     11.65      11.80       11.80       11.85       11.78

5-Months     11.65      11.80       11.80       11.85       11.78

6-Months     11.65      11.80       11.80       11.85       11.78

9-Months     11.70      11.80       11.80       11.85       11.79

1-Year       11.75      11.85       11.85       11.90       11.84

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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    11.60      11.90       11.75       11.90       11.79

1-Week       11.70      11.85       11.90       12.00       11.86

2-Week       11.75      11.85       11.90       12.00       11.88

1-Month      11.70      11.90       11.85       12.00       11.86

2-Months     11.75      11.90       11.85       11.95       11.86

3-Months     11.80      11.90       11.90       11.95       11.89

4-Months     11.80      11.90       11.90       11.95       11.89

5-Months     11.80      11.90       11.90       12.00       11.90

6-Months     11.85      11.95       11.95       12.00       11.94

9-Months     11.85      12.00       12.00       12.10       11.99

1-Year       11.90      12.00       12.10       12.15       12.04

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RUPEE IN LAHORE: The Pak rupee failed to maintain upward slide and lost 15-paisa against the dollar in the kerb market on Tuesday.
According to the moneychangers, the dollar resumed trading at its overnight closing of Rs 86.15 and Rs 86.55, as its buying and selling rates. The dollar witnessed fresh demand that helped its appreciation. At the end, the dollar was closed at Rs 86.30 and Rs 86.70, respectively.
However, the rupee-pound sterling parity remained unchanged amid low trading activity. The pound was traded at Monday's closing of Rs 137.00 and Rs 138.00 on buying and selling side, respectively, the dealers added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Tuesday.
The dollar opened at Rs 87.60 (buying) and Rs 88.05 (selling) against the last rate. It did not observe further change in the second session and closed at Rs 87.60 (buying) and Rs 88.05 (selling).
Pound Sterling opened at Rs 137.80 (buying) and Rs 137.90 (selling) against the overnight value. 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