THE RUPEE: dollar up

The rupee moved both ways against dollar on currency market on Wednesday, dealers said. The rupee shed three paisa at 85.95 versus dollar for buying and lost four paisa for selling at 86.00, they said. In the third Asian trade dollar dipped against a basket of currencies, trimming gains it made after a surprise rate hike by China spurred the market to lower risk exposure, but was seen likely to stay supported due to the potential for further short-covering.INTERBANK MARKET RATES: The dollar index dipped 0.2 percent to 78.011 after climbing more than 1.6 percent the previous day. But its breach of resistance near 77.93, its October 12 high, and through 77.894, a 23.6 percent retracement of its August-October slide, could pave the way for a move to the 78.96-98 area, which would be a 38.2 percent retracement of that August-October drop.Indian rupee was at Rs 44.35 versus dollar, Malaysian ringgit was trading against dollar at 3.1265 and Chinese yuan was at 6.657 in terms of the greenback. OPEN MARKET RATES: The rupee stayed put versus dollar for buying at 86.00 while it gained five paisa for selling 86.15, they said. The rupee, however, recovered in terms of euro, rising 65 paisa for buying and selling at Rs 118.41 and Rs 118.91, they added.
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Open Buying      Rs 85.95
Open Selling     Rs 86.00
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Buying           Rs 86.00
Selling          Rs 86.15
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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    10.60     11.40       10.75       11.50        11.06
1-Week       11.10     11.75       11.75       11.90       11.63
2-Week       11.25     12.05       12.00       12.10       11.85
1-Month      11.60     12.25       12.25       12.35       12.11
2-Months     12.20     12.40       12.40       12.50       12.38
3  -Months     12.30     12.65       12.60       12.75      12.58
4-Months     12.50     12.75       12.75       12.80       12.70
5-Months     12.55     12.90       12.85       13.00       12.83
6-Months     12.60     12.90       12.80       13.00       12.83
9-Months     12.70     13.00       12.95       13.10        12.94
1-Year       12.80     13.00       13.00       13.15        12.99
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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    10.60     11.40       10.75       11.50        11.06
1-Week          11.25     11.80       11.85       11.90        11.70
2-Week          11.40     12.10       12.10       12.20        11.95
1-Month        12.10     12.35       12.25       12.50        12.30
2-Months      12.40     12.75       12.70       12.85        12.68
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
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RUPEE IN LAHORE: The Pak rupee maintained rising tempo versus dollar, gaining 10-paisa on buying and selling sides in the local currency markets on Wednesday.According to the money changers, the dollar witnessed depreciation on buying as well as selling side on account of sufficient supply. The dollar was purchased and sold at Rs 86.00 and Rs 86.20, as compared to Tuesday’s closing rates of Rs 86.10 and Rs 86.30, respectively.On the contrary, the Pak rupee remained unchanged on buying side at Rs 134.50 and appreciated its worth on selling side at Rs 135.50 against the pound sterling. The pound was purchased and sold at Rs 134.50 and Rs 135.50, as compared to Tuesday’s closing rates of Rs 134.50 and Rs 136.00, respectively.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the currency markets of Islamabad and Rawalpindi on Wednesday.The dollar resumed trading at Rs 86.15 (buying) and Rs 86.50 (selling) against same last rates. It did not observe further change in the evening session and closed at Rs 86.15 (buying) and Rs 86.50 (selling).Pound sterling opened at Rs 134.05 (buying) and Rs 135.20 (selling) in the morning session. It did not observe further change in the last trading hours and closed at Rs 134.05 (buying) and Rs 135.20 (selling) – Brecorder