Rates moved both ways on the currency market on Monday as the rupee did not fluctuate sharply versus the dollar, dealers said. The rupee rose by one paisa against dollar for buying at 86.04 and it also gained two paisa at 86.08 versus dollar for selling, they said. In the first Asian trade dollar rose against a basket of currencies and pulled away from a 10-month low, with market players saying its short-covering bounce may have more room to run given the recent build-up of bets against dollar.INTERBANK MARKET RATES: The greenback extended a rebound that started late last week, with the euro retreating further from an eight-month high and the Australian dollar backing off from Friday’s peak above parity that was the highest since it was floated in 1983. Interbank buy/sell rates for taka against dollar on Monday: 70.25/70.40 (previous 70.14/70.30). Call Money Rates: 4.50-6.25 percent (previous 4.00-6.50 percent). Spot yuan on Monday pulled back from its highest versus dollar since its landmark revaluation in July 2005 after the US Treasury Department delayed a report on trade partners’ currency practices. The Indian rupee weakened, pulling back from over 25-month high scaled in the previous session, weighed by dollar demand from oil importers, strong dollar overseas and losses in local shares.
Capital inflows were also not too strong so far in the day, which added to the rupee’s downside, dealers said. “Capital inflows are mostly stable now. We expect $8 billion to $10 billion fresh inflows in the next three days towards Coal India IPO (initial public offering),” said a dealer at a foreign bank. At 10:40 am (0510 GMT), the partially convertible rupee was at 44.22/23 per dollar, weaker than 44.10/11 at close on Friday when it had risen to 43.95, its highest since August 29, 2008.OPEN MARKET RATES: The rupee shed five paisa versus dollar for buying and selling at 86.05 and 86.25, they said. Meanwhile the rupee extended the overnight gains, picking up 29 paisa versus euro for buying at Rs 118.79 and Rs 119.29, they added.
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Open Buying Rs 86.05
Open Selling Rs 86.25
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
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Buying Rs 86.04
Selling Rs 86.08
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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 11.50 13.25 11.80 13.40 12.49
1-Week 11.25 12.15 12.00 12.20 11.90
2-Week 11.25 12.15 12.00 12.25 11.91
1-Month 11.60 12.30 12.25 12.35 12.13
2-Months 12.20 12.40 12.35 12.50 12.36
3-Months 12.30 12.65 12.55 12.75 12.56
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 11.50 13.25 11.80 13.40 12.49
1-Week 11.25 12.25 12.10 12.30 11.98
2-Week 11.40 12.30 12.10 12.35 12.04
1-Month 12.10 12.50 12.25 12.60 12.36
2-Months 12.40 12.75 12.70 12.90 12.69
3-Months 12.50 13.00 12.85 13.10 12.86
4-Months 12.60 13.00 13.00 13.10 12.93
5-Months 12.70 13.10 13.10 13.20 13.03
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 lost 10 paisa on buying side at Rs 86.10, and 25 paisa on selling side at Rs 86.30 in relation to dollar at Lahore currency market on Monday.
According to moneychangers, the dollar moved up because of increase in its demand. It closed higher at Rs 86.10 and Rs 86.30 as its buying and selling rates respectively, as against last Friday’s Rs 86.00 and Rs 86.05.
On the other hand, the rupee appreciated by Re 1 against pound sterling which was purchased and sold at Rs 135.70 and Rs 136.50 as compared to Friday’s Rs 136.70 and Rs 137.50 respectively, dealers said.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the currency markets of Islamabad and Rawalpindi on Monday.
The dollar resumed trading at Rs 86.10 (buying) and Rs 86.50 (selling) against same last rates. It did not observe further change in the evening session and closed at Rs 86.10 (buying) and Rs 86.50 (selling).
Pound sterling opened at Rs 134.05 (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 134.05 (buying) and Rs 135.20 (selling) – Brecorder
