Strong dollars' buying pushed the rupee lower on the currency market on Friday ahead of long weekend due to local holiday on account of Quaid-e-Azam birth anniversary, dealers said. The rupee extended its decline versus dollar, losing five paisa for buying at 85.79 and dropped by six paisa for selling at 85.84, they said.
But little action took place in Asia with volumes drying up heading into the Christmas holidays. US markets are shut on Friday along with many European centres. The ringgit rose 0.84 percent to as firm as 3.0890 per dollar, the strongest since November, 11 after a media report on the possible listing of Petronas Carigali.
The yuan rose to close at its highest level against dollar in six weeks on Friday after the People's Bank of China set a stronger midpoint, continuing an upward crawl for the Chinese currency over the past few days. The yuan may appreciate a little in the near term as the central bank might use the exchange rate to fight potential imported inflation and as it needs to create a favourable environment for President Hu Jintao's visit to the United States in mid-January, traders said.
Interbank buy/sell rates for taka against dollar on Thursday: 70.69/70.70 (previous 70.68/70.70) Call Money Rates: 15.00-25.00 percent previous 9.0-30.00 percent). Indian rupee was trading at Rs 45.22 versus dollar.
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Open Buying Rs 85.79
Open Selling Rs 85.84
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Buying Rs 85.60
Selling Rs 85.80
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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 12.25 13.75 12.50 13.90 13.10
1-Week 11.50 12.75 12.60 12.80 12.41
2-Week 11.60 12.75 12.80 12.90 12.51
1-Month 11.90 12.90 12.90 12.95 12.66
2-Months 12.20 13.00 12.80 13.10 12.78
3-Months 12.55 13.15 13.10 13.25 13.01
4-Months 12.70 13.15 13.10 13.25 13.05
5-Months 12.75 13.20 13.20 13.35 13.13
6-Months 13.00 13.30 13.25 13.40 13.24
9-Months 13.10 13.40 13.30 13.60 13.35
1-Year 13.25 13.50 13.40 13.60 13.44
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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 12.25 13.75 12.50 13.90 13.10
1-Week 12.00 13.00 12.90 13.10 12.75
2-Week 12.25 13.20 13.00 13.30 12.94
1-Month 12.50 13.10 13.00 13.25 12.96
2-Months 12.75 13.40 13.20 13.50 13.21
3-Months 12.80 13.50 13.25 13.75 13.33
4-Months 12.90 13.50 13.30 13.75 13.36
5-Months 13.00 13.50 13.40 13.75 13.41
6-Months 13.10 13.60 13.40 13.90 13.50
9-Months 13.25 13.60 13.50 13.90 13.56
1-Year 13.25 13.75 13.60 14.00 13.65
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According to the moneychangers, the dollar continued upward trend and appreciated its worth in the kerb market on account of buying support. The dollar was traded at Rs 85.70 (buying) and Rs 85.90 (selling), as compared to overnight closing of Rs 85.65 (buying) and Rs 85.80 (selling), they added.
The rupee-pound parity remained unchanged in the local market. The pound sterling commenced trading at Rs 132.50 (buying) and Rs 133.50 (selling) and did not observe any change in its value. The opening rates continued to prevail throughout the day, the moneychangers said.
The dollar resumed trading at Rs 85.50 (buying) and Rs 85.80 (selling) against the rate of Rs 86.20 (buying) and Rs 86.30 (selling). It did not observe further change in the evening session and closed at Rs 85.50 (buying) and Rs 85.80 (selling).
Pound Sterling opened at Rs 136.20 (buying) and Rs 136.60 (selling) in the morning session. It did not observe further change in the last trading hours and closed at Rs 136.20 (buying) and Rs 136.60 (selling).