THE RUPEE: dollar moves both ways

KARACHI  : Mixed trend was seen on the currency market on Monday as the rupee moved both sides versus dollar in process of trading, experts said. The rupee drifted lower in relation to dollar, losing 23 paisa for buying at 84.50 and it also lost 25 paisa for selling at 84.55, they said.

INTERBANK MARKET RATES: Importers were active in dollar buying to meet the payments, which made the rupee unable to retain its firmness, they said. In the first Asian trade dollar was vulnerable, hitting a fresh 29-year low against the Australian dollar under the weight of its low interest rates, although dealers said trading is thin due to Easter and the dollar’s direction ultimately hinges on the US Federal Reserve’s policy meeting later in the week.Market players are looking to a news conference by Chairman Ben Bernanke planned on Wednesday after the central bank’s two-day policy meeting — the first regularly scheduled news briefing by a Fed chief in the central bank’s 97-year history — to see how the Fed plans to seek an exit from its easy monetary policy.Inter-bank buy-sell rates for taka against dollar on Monday : 72.82/72.90 (previous 72.80/72.85). Call Money Rates: 5.50-10.00 percent (previous 6.00-12.00 percent).Indian rupee was trading at Rs 44.33 versus dollar, Malaysian ringgit was at 2.9950 in relation to the greenback and Chinese yuan trading at 6.5141 in terms of the greenback.

OPEN MARKET RATES: The rupee, however, gained 10 paisa against dollar for buying at 84.20 and rose by 15 paisa for selling at 84.35, they added. The rupee, could not retain its weekend firmness, losing 41 paisa versus euro for buying and selling at Rs 122.56 and Rs 123.06, they said.
========================
Open Buying     Rs 84.20
Open Selling    Rs.84.35
========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
========================
Buying          Rs.84.50
Selling         Rs.84.55
========================
=================================================================
Repo Rates (Yield p a)
—————————————————————–
Tenor       Low Bid   High Bid   Low Offer   High Offer   Average
=================================================================
Overnight     11.10     11.75       11.20       12.00       11.51
1-Week        11.50     12.40       12.40       12.50       12.20
2-Week        11.60     12.65       12.60       12.70       12.39
1-Month       11.90     12.85       12.85       12.95       12.64
2-Months      12.40     13.10       13.10       13.20       12.95
3-Months      12.90     13.20       13.20       13.25       13.14
4-Months      13.00     13.25       13.30       13.35       13.23
5-Months      13.20     13.35       13.35       13.40       13.33
6-Months      13.35     13.50       13.45       13.55       13.46
9-Months      13.40     13.60       13.50       13.65       13.54
1-Year        13.45     13.60       13.55       13.65       13.56
=================================================================
Call Rates (Yield p a)
—————————————————————–
Tenor       Low Bid   High Bid   Low Offer   High Offer   Average
=================================================================
Overnight     11.10     11.75       11.25       12.00       11.53
1-Week        12.25     12.50       12.50       12.60       12.46
2-Week        12.40     12.75       12.75       12.85       12.69
1-Month       12.70     13.00       12.90       13.10       12.93
2-Months      13.00     13.20       13.20       13.30       13.18
3-Months      13.10     13.30       13.30       13.40       13.28
4-Months      13.25     13.50       13.40       13.60       13.44
5-Months      13.40     13.60       13.45       13.65       13.53
6-Months      13.45     13.65       13.55       13.75       13.60
9-Months      13.50     13.70       13.60       13.75       13.64
1-Year        13.50     13.75       13.60       13.90       13.69
=================================================================
RUPEE IN LAHORE: The rupee showed stability on buying side while it lost five paisa on selling side in relation to the greenback in the open currency market on Monday.According to the currency dealers, there was no change in the dollar’s supply. As a result, the dollar’s buying rate remained intact at its last week closing of Rs 84.25 while because of slight increase in the dollar’s demand, its rate moved up from Rs 84.45 to Rs 84.50.However, the rupee remained under pressure and lost its value against the pound sterling. The pound was purchased and sold at Rs 138.50 and Rs 139.20 as compared to previous closing of Rs 138.30 and Rs 138.70, respectively, the dealers said.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar remained unchanged against the rupee at the open currency markets of Islamabad and Rawalpindi here on Monday.The dollar resumed trading at Rs 85.15 (buying) and Rs 85.50 (selling) against the same last rate. It did not observe further change in the evening session and closed at Rs 85.15 (buying) and Rs 85.50 (selling).Pound Sterling opened at Rs 136.35 (buying) and Rs 137.55 (selling) against the same previous rate. It did not witness any change in the evening session and closed at Rs 136.35 (buying) and Rs 137.55 (selling). – Brecorder