THE RUPEE: dollar moves both ways

Rates moved both ways on the currency market on Thursday in process of trading, dealers said. The rupee was higher by four paisa against dollar for buying at Rs 85.65 and rose by three paisa for selling at 85.70, they said.

INTERBANK MARKET RATES: In the fourth Asian trade euro slipped from one-week highs after short-covering triggered by Portugal’s successful debt auction the previous day ran its course and traders looked to debt sales by Spain and Italy. Some analysts say hopes for further policy responses by euro zone to tackle the debt woes are helping euro amid talk of increasing rescue funds, but they caution it is too early to bet that anything substantial will be agreed at a euro group finance ministers meeting early next week.Indian rupee was trading at Rs 45.11 versus dollar, Malaysian ringgit was available at 3.0550 in relation to the greenback and Chinese yuan was at 6.597 in relation to the US currency.

OPEN MARKET RATES: The rupee shed five paisa against dollar for buying and selling at 85.90 and 86.05, they added. The rupee failed to lift from bottom against euro, coming down sharply by Rs 1.10 to Rs 112.55 and Rs 113.05, they said.
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Open Buying      Rs 85.65
Open Selling     Rs 85.70
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
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Buying           Rs 85.90
Selling          Rs 86.05
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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     11.40     12.75       11.60       13.00       12.19
1-Week        11.50     12.55       12.50       12.65       12.30
2-Week        11.55     12.65       12.60       12.75       12.39
1-Month       11.90     12.85       12.80       12.90       12.61
2-Months      12.25     13.10       13.00       13.20       12.89
3-Months      12.70     13.15       13.15       13.30       13.08
4-Months      12.70     13.20       13.20       13.30       13.10
5-Months      12.75     13.25       13.25       13.40       13.16
6-Months      13.25     13.45       13.30       13.50       13.38
9-Months      13.25     13.60       13.60       13.75       13.55
1-Year        13.35     13.65       13.70       13.80       13.63
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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      11.40    12.75      11.60       13.00        12.19
1-Week         11.75    12.60      12.60       12.70        12.41
2-Week         12.25    12.70      12.75       12.80        12.63
1-Month        12.40    12.90      12.90       13.00        12.80
2-Months       12.75    13.25      13.25       13.40        13.16
3-Months       12.90    13.40      13.25       13.50        13.26
4-Months       12.90    13.50      13.30       13.60        13.33
5-Months       13.00    13.50      13.40       13.75        13.41
6-Months       13.30    13.70      13.65       13.90        13.64
9-Months       13.30    13.75      13.70       13.90        13.66
1-Year         13.40    13.80      13.75       13.90        13.71
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RUPEE IN LAHORE: The rupee-dollar parity remained unchanged for the second consecutive day amid low trading activity in the local currency market on Thursday.According to the moneychangers, there was no visible change in the dollar’s demand and supply situation that helped rupee stability. The dollar resumed trading at its overnight closing of Rs 86.00 and Rs 86.20, as its buying and selling rates, respectively. In the absence of buying support, the opening rates continued to prevail throughout the day, they said.On the contrary, the local currency remained under pressure and depreciated its worth against the pound sterling. The pound was purchased and sold at Rs 134.50 and Rs 135.50, as compared to last day closing of Rs 133.70 and Rs 134.50, respectively, the moneychangers added.

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 85.50 (buying) and Rs 85.80 (selling) against the last rate of Rs 86.20 (buying) and Rs 86.30 (selling). It did not observe further change in the evening session and closed at Rs 85.50 (buying) and Rs 85.80 (selling).Pound Sterling opened at Rs 136.30 (buying) and Rs 136.70 (selling) in the morning session. It did not observe further change in the last trading hours and closed at Rs 136.30 (buying) and Rs 136.70 (selling) – Brecorder