THE RUPEE: parity stays put versus dollar

Thursday, 04 February 2010 11:38

Economic Updates - Pak Major Financial News

KARACHI : Steady trend was seen on the money market on Wednesday as the rupee maintained its levels versus dollar, dealers said. The rupee held the overnight levels in relation to dollar on the interbank market for buying and selling at 84.90 and 84.95, they said.

During the third Asian trade higher yielders such as Australian dollar gave back small gains on yen and dollar as caution set in before an EU assessment of Greece s fiscal plan on Wednesday and key US jobs data at the end of the week.

Short-term speculators had earlier picked up bargains in beaten-down growth-linked currencies such as the Aussie following strong US earnings and improved housing data, which helped lift appetite for slightly riskier assets, market players said.

OPEN MARKET RATES: The rupee managed to retain its level versus the greenback for buying and selling at 86.10 and 86.20, dealers said.

The rupee, however, lost 55 paisa in terms of euro for buying and selling at Rs 119.55 and Rs 120.05, they added.

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Buying Rs 84.90

Selling Rs.84.95

Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.

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Open Buying Rs.86.10

Open Selling Rs.86.20

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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 10.25 11.00 10.30 11.25 10.70

1-Week 10.85 11.50 11.50 11.70 11.39

2-Week 11.25 11.75 11.70 11.85 11.64

1-Month 11.50 11.90 11.85 11.95 11.80

2-Months 11.70 11.90 11.85 12.00 11.86

3-Months 11.75 11.95 11.95 12.00 11.91

4-Months 11.80 12.00 12.00 12.10 11.98

5-Months 11.80 12.00 12.00 12.10 11.98

6-Months 11.80 12.00 12.00 12.10 11.98

9-Months 11.85 12.00 11.95 12.15 11.99

1-Year 11.90 12.00 12.00 12.10 12.00

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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 10.25 11.00 10.35 11.25 10.71

1-Week 11.00 11.90 11.60 12.00 11.63

2-Week 11.50 11.90 11.85 12.00 11.81

1-Month 11.80 12.00 11.95 12.10 11.96

2-Months 11.90 12.10 12.10 12.20 12.08

3-Months 11.95 12.20 12.10 12.25 12.13

4-Months 12.00 12.20 12.15 12.25 12.15

5-Months 12.00 12.25 12.10 12.30 12.16

6-Months 12.00 12.25 12.15 12.30 12.18

9-Months 12.10 12.25 12.20 12.30 12.21

1-Year 12.15 12.30 12.25 12.40 12.28

RUPEE IN LAHORE: The Pak rupee remained under pressure and maintained downward slide against the greenback in the local currency market on Wednesday.

According to the currency dealers, the dollar recorded fresh demand that pushed the rupee s value further down. The rupee lost 20 paisa in relation to the dollar that was closed higher at Rs 86.50 and Rs 86.80 on buying and selling sides against the overnight closing of Rs 86.30 and Rs 86.60, respectively, the dealers said.

Similarly, the rupee failed to sustain and remained under pressure against the pound sterling. The pound amid rising demand registered strength and was traded at Rs 137.50 and Rs 138.50, as its buying and selling rates, as compared to Tuesday closing of Rs 137.20 and Rs 138.00, respectively, the dealers added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar surged by 15 paisa against the rupee at the open currency markets of Islamabad and Rawalpindi here on Wednesday.

The dollar opened at Rs 86.25 (buying) and Rs 86.35 (selling) against the rate of Rs 86.10 (buying) and Rs 86.20 (selling). It did not observe further change in the evening session and closed at Rs 86.25 (buying) and Rs 86.35 (selling).

Pound Sterling opened at Rs 134.00 (buying) and Rs 135.00 (selling) against the rate of Rs 138.00 (buying) and Rs 138.20 (selling). It did not observe further change in the evening spell and closed at Rs 134.00 (buying) and Rs 135.00 (selling).