THE RUPEE: dollar soars

Dollar again started showing its muscles in the interbank market, gaining 25 paisa against the rupee for buying and selling at 62.23 and 62.25, dealers said. Supply of dollar was tight, which unabled the rupee to continue its stability versus the US currency, they added.
But it is expected that the rupee may be able to gain its strength in days to come, they said. In the first Asian trading session, dollar hovered near a three-week low against euro, dogged by worries the US economy may fall into recession and by market expectations for the Federal Reserve to lower interest rates more.
The euro was supported after data late last week showed that euro-zone services growth sprang back in February from a 4-1/2 year low, tempering expectations for a near-term rate cut by the European Central Bank.
OPEN MARKET RATES: The rupee fell sharply against the greenback , losing 15 paisa for buying and selling at 62.35 and 62.45, they said. The rupee maintained its weekend level versus euro for buying and selling at Rs 92.25 and Rs 92.35, they said.

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Open Buying             Rs 62.35

Open Selling            Rs 62.45

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INTERBANK CLOSING RATES: Interbank closing rates for dollar on Monday.

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Buying                Rs 62.23

Selling               Rs 62.25

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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    9.25      10.25       9.40       10.40          9.83

1-Week       9.50       9.70       9.60        9.80          9.65

2-Weeks      9.40       9.70       9.55        9.75          9.60

1-Month      9.40       9.65       9.55        9.75          9.59

2-Months     9.40       9.50       9.50        9.60          9.50

3-Months     9.45       9.55       9.55        9.75          9.58

4-Months     9.50       9.65       9.65        9.75          9.64

5-Months     9.50       9.75       9.65        9.80          9.68

6-Months     9.55       9.75       9.70        9.90          9.73

9-Months     9.60       9.80       9.70        9.90          9.75

1-Year       9.65       9.80       9.75        9.90          9.78

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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    9.50      10.40       9.60       10.45          9.99

1-Week       9.75      10.00       9.90       10.25          9.98

2-Weeks      9.75      10.00      10.00       10.25         10.00

1-Month      9.75      10.25      10.00       10.40         10.10

2-Months     9.75      10.25      10.00       10.50         10.13

3-Months     9.75      10.30      10.00       10.50         10.14

4-Months     9.75      10.35      10.00       10.50         10.15

5-Months     9.90      10.40      10.20       10.50         10.25

6-Months    10.00      10.40      10.25       10.50         10.29

9-Months    10.00      10.50      10.25       10.60         10.34

1-Year      10.10      10.50      10.30       10.60         10.38

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