THE RUPEE: all-round slide

KARACHI: All-round slide was seen on the currency market on Monday due to strong demand for the greenback, dealers said. The rupee extended the overnight fall, losing five paisa more versus dollar for buying at 86.02 and shed seven paisa for selling at 86.08, they said. In the first Asian trade dollar edged up from five-month lows as euro ran into profit-taking, and it dug in against yen as intervention jitters lent support.

INTERBANK MARKET RATES: With the end of Japan’s fiscal first half approaching, dollar was expected by some to see selling pressure against yen, although others said this could be countered by yen sales related to the launch of Japanese mutual funds on Monday.

“Since this is the week when the fiscal half-year comes to an end, I think there will be a decent amount of (dollar) selling,” said a senior trader at a major Japanese bank. The Indian rupee breached the 45-per-dollar mark to reach a new four-and-half-month high on Monday, as large foreign investor interest in the domestic stock market amid a clutch of initial public offerings (IPOs) boosted sentiment. The partially convertible rupee closed at 45.01/02 per dollar after hitting 44.99, which was its highest since May 13, and 0.5 percent firmer than 45.25/26 at close last Friday. The Chinese yuan extended a rally even though the central bank lowered its mid-point after nine days of stronger fixings in the face of growing US pressure on Beijing to let the currency rise faster. Interbank buy/sell rates for taka against dollar on Monday: 69.83/69.90 (previous 69.7950/69.8100) Call Money Rates: 3.75-5.50 percent (previous 3.50-5.50. percent).

OPEN MARKET RATES: Same pattern was seen on the open market as the rupee shed 20 paisa against dollar for buying at 86.15 and lost 10 paisa for selling at 86.25, they said. The rupee failed to resist its fall in relation to euro, dropping 45 paisa for buying and selling at Rs 114.73 and Rs 114.23, they added.

Open Buying Rs 86.15         Open Selling Rs 86.25

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

Buying           Rs 86.02    Selling          Rs 86.08

Repo Rates (Yield p a)

Tenor      Low Bid   High Bid   Low Offer   High O

Overnight    10.00      10.90      10.10       11.00        10.50
1-Week       11.00      11.40      11.50       11.70        11.40
2-Week       11.15      11.85      11.70       12.00        11.68
1-Month      11.50      12.30      12.10       12.35        12.06
2-Months     12.05      12.45      12.40       12.50        12.35
3-Months     12.25      12.50      12.45       12.60        12.45
4-Months     12.35      12.55      12.50       12.65        12.51
5-Months     12.40      12.60      12.50       12.75        12.56
6-Months     12.55      12.70      12.60       12.80        12.66
9-Months     12.60      12.75      12.70       12.85        12.73
1-Year       12.70      12.80      12.75       12.

Call Rates (Yield p a)

Tenor      Low Bid   High Bid   Low Offer   High O

Overnight    10.00      10.90      10.10       11.00        10.50
1-Week       11.40      12.00      11.80       12.20        11.85
2-Week       11.60      12.10      12.00       12.20        11.98
1-Month      12.10      12.40      12.35       12.45        12.33
2-Months     12.25      12.70      12.50       12.75        12.55
3-Months     12.40      12.75      12.65       12.90        12.68
4-Months     12.40      12.90      12.70       13.00        12.75
5-Months     12.50      13.00      12.70       13.10        12.83
6-Months     12.50      13.10      12.80       13.25        12.91
9-Months     12.60      13.20      12.80       13.30        12.98
1-Year       12.70      13.25      12.80       13.35        13.03

RUPEE IN LAHORE: The rupee remained unchanged on buying side while it lost 10 paisa on selling side in relation to dollar at Lahore currency market on Monday.

According to dealers, the dollar resumed trading at Friday’s closing of Rs 85.80 and Rs 86.00 as buying and selling rates, respectively. In the process of trading the dollar moved up and crossed the Rs 86.00 mark, and closed at Rs 85.80 and Rs 86.10 for buying and selling, respectively.

Likewise, the rupee opened on a depressed note against pound sterling. Amid rising demand, the pound moved up and closed at Rs 134.50 and Rs 135.50 as against previous closing of Rs 134.00 and Rs 135.00, respectively, dealers said.

RUPEE IN ISLAMABAD AND RAWALPINDI: The buying and selling rate of rupee against dollar remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Monday. The dollar resumed trading at Rs 84.75 (buying) and Rs 85.20 (selling) against the same last rate. It did not observe further change in the evening session and closed at Rs 84.75 (buying) and Rs 85.20 (selling).

Pound Sterling opened at Rs 128.29 (buying) and Rs 132.12 (selling) against the previous rate of Rs 128.16 (buying) and Rs 132.02 (selling). It did not observe further change in the last trading hours and closed at Rs 128.29 (buying) and Rs 132.12 (selling) – App