THE RUPEE: dollar turns lower

Availability of dollars helped the rupee to register gains against the greenback on currency market on Thursday, dealers said. The rupee managed to recover modestly versus dollar, gaining six paisa for buying at 85.84 and eight paisa for selling at 85.87 in process of trading, they said. In the fourth Asian trade a short-covering bounce in dollar paused on Thursday but traders said a rise in US Treasury yields could prompt more buybacks in the greenback before the Federal Reserve’s policy meeting next week.INTERBANK MARKET RATES: US bond yields have risen this week partly as euphoria over the Fed’s likely asset purchase programme is being replaced by doubts over the size of such a move. Interbank buy/sell rates for taka against dollar on Thursday: 70.78/70.80 (previous 70.77/70.80) Call Money Rates: 4.50-5.75 percent (previous 2.00-6.00 percent). Spot yuan on Thursday ended at its lowest closing level against dollar this month after the People’s Bank of China set another weak mid-point in a move to create two-way trading for the Chinese currency.The Indian rupee edged lower on Thursday as oil refiners bought dollars, while seesawing shares provided little clues on foreign fund flows. At 10:30 am (0500 GMT), the partially convertible rupee was at 44.49/50 per dollar, 0.1 percent weaker than its close of 44.445/450 on Wednesday.

OPEN MARKET RATES:
The rupee recovered five paisa in relation to dollar for buying and selling at 85.85 and 86.00, they said. The rupee shed 12 paisa versus euro for buying and selling at Rs 118.25 and Rs 118.75, they added.
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Open Buying      Rs 85.85
Open Selling     Rs 86.00
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Buying           Rs 85.84
Selling          Rs 85.87
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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    12.75     13.40      13.00       13.40         13.14
1-Week       11.50     12.40      12.30       12.45         12.16
2-Week       11.60     12.30      12.30       12.40         12.15
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     12.75      12.65       12.90         12.65
4-Months     12.50     12.75      12.75       12.90         12.73
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    12.75     13.40      13.00       13.40         13.14
1-Week       11.60     12.45      12.35       12.50         12.23
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     12.90      12.75       13.00         12.76
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 Pak rupee continued upward trend and appreciated its worth by 10-paisa against the greenback in the local currency market on Thursday.The moneychangers said that sufficient supply of dollar helped rupee appreciation in the open market. The dollar remained under pressure and finally ended at Rs 85.80 and Rs 86.00 on buying and selling sides, as compared to overnight closing of Rs 85.90 and 86.10, respectively.On the contrary, the Pak rupee witnessed depreciation of 40-paisa and 20-paisa on buying and selling side, respectively against British pound. The pound sterling was purchased and sold at Rs 135.20 and 136.00, as compared to Rs 134.80 and Rs 135.80 of Wednesday, respectively, they said.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the open currency markets of Islamabad and Rawalpindi here on Thursday.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) – Brecorder