THE RUPEE: dollar higher

The rupee rates versus dollar moved both ways in the currency market on Wednesday in process of strong demand for the greenback, dealers said. The rupee dropped six paisa at 85.90 against dollar for buying and shed seven paisa at 85.95 for selling, they said.INTER-BANK MARKET RATES: In the third Asian trade dollar edged higher against yen and euro after the Wall Street Journal said the Federal Reserve was likely to unveil plans for gradual Treasury purchases at its policy meeting next week.The newspaper said the Fed is likely to reveal a programme of US Treasury bond purchases worth several hundred billion dollars over several months. What the report called a “measured approach” compares with investors’ base-case scenario for an initial commitment to buy at least dollar 500 billion in Treasury debt. Indian rupee was trading at Rs 44.56 versus dollar, Malaysian ringgit was available at 3.1090 in terms of the US currency and Chinese yuan was at 6.678 against the greenback.

OPEN MARKET RATES:
The rupee held its overnight levels against dollar for buying and selling at 85.90 and 86.05, they said. The rupee managed to recover another Rs 1.19 in terms of euro for buying and selling at Rs 118.13 and Rs 118.63, they added.
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Open Buying      Rs 85.90
Open Selling     Rs.86.05
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Buying           Rs.85.90
Selling          Rs.85.95
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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     13.40      12.50       13.40         12.89
1-Week       11.50     12.40      12.25       12.45         12.15
2-Week       11.60     12.35      12.30       12.40         12.16
1-Month      11.75     12.40      12.35       12.45         12.24
2-Months     12.20     12.50      12.45       12.60         12.44
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    12.25     13.40      12.50       13.40         12.89
1-Week       11.60     12.45      12.30       12.50         12.21
2-Week       11.75     12.40      12.35       12.50         12.25
1-Month      12.20     12.50      12.45       12.60         12.44
2-Months     12.40     12.75      12.70       12.85         12.68
3-Months     12.50     13.10      12.90       13.25         12.94
4-Months     12.60     13.15      13.00       13.25         13.00
5-Months     12.70     13.20      13.10       13.30         13.08
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 rupee remained unchanged on buying side versus dollar while it gained 10 paisa on selling side at Lahore currency market on Wednesday.According to currency dealers, the dollar resumed trading at overnight Rs 85.90 and Rs 86.20 as buying and selling rates, respectively. In the absence of buying support, the dollar could not sustain and declined to Rs 86.10 on selling counter, while its buying rate remained unchanged at Rs 85.90, dealers said.On the other hand, the rupee appreciated against pound sterling on buying side and remained unchanged on selling side. The pound was purchased and sold at Rs 134.80 and Rs 135.80 as compared to overnight closing of Rs 135.00 and Rs 135.80, respectively, dealers added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Wednesday.The dollar resumed trading at Rs 86.15 (buying) and Rs 86.60 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 86.15 (buying) and Rs 86.60 (selling).Pound Sterling opened at Rs 134.00 (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 134.00 (buying) and Rs 135.20 (selling)