THE RUPEE: firm trend

KARACHI (October 05 2010): The rupee managed to retain its weekend’s firmness against dollar on the currency market on Monday, dealers said. The rupee inched up by one paisa in relation to dollar for buying at 86.20 and two paisa for selling at 86.24, they said. In first Asian trade, the dollar surged higher in a short-covering rally against yen, which retreated against other currencies as investors unwound some long yen positions ahead of a Bank of Japan (BoJ) policy meeting this week.INTERBANK MARKET RATES: Few saw surprises from the BOJ meet, which would end on Tuesday, with expectations that policy makers would extend a cheap fund-supply tool to help shore up the economy. Indian rupee strengthened to its highest level in more than five-and-half months, supported by sustained foreign portfolio investments and gains in other regional peers. At 10:25 am (0455 GMT), it was at 44.31/32 per dollar, after hitting 44.2525, its highest since April 15 and 0.4 percent above Friday’s close of 44.47/48. Interbank buy/sell rates for taka against the dollar: 70.5450/70.5500 (previous 70.55/70.55); Call Money Rates: 3.75-6.00 percent (previous 3.50-6.50 percent).

OPEN MARKET RATES: The rupee rose by five paisa in terms of dollar for buying and selling at 86.35 and 86.55, dealers said. It also gained 57 paisa in terms of euro for buying and selling at Rs 117.35 and Rs 117.85, they added.

Open Buying      Rs 86.35 ,     Open Selling     Rs.86.55

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

Buying           Rs.86.20,     Selling          Rs.86.24

Repo Rates (Yield p a)

Tenor      Low Bid   High Bid   Low Offer   High Offer    Average

Overnight    10.60      11.50      10.75       11.75        11.15
1-Week       11.25          11.50         11.60       11.75        11.53
2-Week       11.40        12.00        12.00       12.25        11.91
1-Month      11.75       12.30       12.25       12.40        12.18
2-Months     12.25      12.50      12.50       12.70        12.49
3-Months     12.40      12.70      12.60       12.75        12.61
4-Months     12.50      12.75      12.75       12.85        12.71
5-Months     12.60      12.90      12.85       13.00        12.84
6-Months     12.60      12.90      12.90       13.00        12.85
9-Months     12.65      13.00      12.95       13.10        12.93
1-Year       12.65         13.00      13.00       13.15        12.95

Call Rates (Yield p a)

Tenor      Low Bid   High Bid   Low Offer   High Offer    Average

Overnight    10.60      11.60     10.75       11.75        11.18
1-Week         11.35      11.60      11.60        11.80        11.59
2-Week         11.60      12.35      12.10       12.40        12.11
1-Month       12.25      12.50      12.50       12.60        12.46
2-Months     12.40      12.80      12.75       12.90        12.71
3-Months     12.50      13.00      12.85       13.10        12.86
4-Months     12.60      13.00      13.00       13.10        12.93
5-Months     12.70      13.10      13.10        13.20        13.03
6-Months     12.80      13.25      12.90       13.35        13.08
9-Months     12.90      13.30      13.10       13.40        13.18
1-Year           13.10      13.40      13.20       13.45        13.29 – Brecorder