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THE RUPEE: 45 paisa lost to euro

07 Feb, 2004

The rupee on Friday gained five paisa against the dollar amid post-holiday session in the kerb market for buying and selling at Rs 57.25 and Rs 57.35, respectively.
Most of the trading centres re-opened in the city after observing Eid-ul-Azha holidays, moneychangers said. They said that normal business was not seen in the market as MMA had given strike call to protest against government's attitude towards Dr A Q Khan.
Commenting on rupee's appreciation they said that easy availability of dollars helped the rupee to move upward.
The rupee, however, lost 45 paisa versus the euro for buying and selling at Rs 71.64 and Rs 71.94, respectively.
The dollar showed slight improvement versus leading currencies in world markets, dealers said.
The rupee did not depict any big change versus the greenback and registered at Rs 57.42 and Rs 57.44 in the absence of major demand.

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Kerb Buying             Rs 57.25
Kerb Selling            Rs 57.35
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Interbank closing rates for dollar on Friday.

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Buying                Rs 57.42
Selling               Rs 57.44
==============================
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Repo Rates (Yield p a)
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Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight   0.10       0.30       0.50        0.70           0.40
1-Week      0.30       0.50       0.70        0.80           0.58
2-Week      0.60       0.80       1.10        1.30           0.95
1-Month     0.80       1.00       1.20        1.40           1.10
2-Month     1.00       1.20       1.40        1.60           1.30
3-Month     1.25       1.40       1.75        1.90           1.58
4-Month     1.30       1.50       1.70        1.90           1.60
5-Month     1.40       1.60       1.80        1.95           1.69
6-Month     1.40       1.60       1.80        2.00           1.70
9-Month     1.50       1.70       1.90        2.10           1.80
1-Year      1.60       1.80       2.00        2.20           1.90
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight   0.20       0.40       0.70        0.90           0.55
1-Week      0.40       0.60       0.80        1.00           0.70
2-Week      0.70       0.90       1.20        1.40           1.05
1-Month     1.00       1.20       1.40        1.60           1.30
2-Month     1.20       1.40       1.60        1.80           1.50
3-Month     1.30       1.50       1.80        2.00           1.65
4-Month     1.40       1.60       1.80        2.00           1.70
5-Month     1.50       1.70       1.90        2.10           1.80
6-Month     1.50       1.70       1.90        2.10           1.80
9-Month     1.80       2.00       2.20        2.40           2.10
1-Year      2.00       2.20       2.40        2.60           2.30
=================================================================

After five consecutive holidays, the dollar resumed trading at Rs 57.38 and Rs 57.48 as its buying and selling rates, respectively.
However, it could not sustain and fell down due to lacking buying interest on the part of investors.
The dollar closed at Rs 57.35 and Rs 57.45 against the previous closing of 57.40 and Rs 57.50 on buying and selling counters, respectively, the currency dealers said.
On the contrary, the rupee remained depressed against the British pound. The pound's buying rate improved from Rs 104 of last Saturday to Rs 104.60, while its selling rate jumped up from Rs 104.50 to Rs 105, the dealers added.
The dollar opened at Rs 57.30 (buying) and Rs 57.40 (selling) against the same previous rate. It did not show any further change in the evening session and closed at Rs 57.30 (buying) and Rs 57.40 (selling) respectively.
Pound sterling opened at Rs 104 (buying) and Rs 104.20 (selling) against last rate of Rs 104.30 (buying) and Rs 104.50 (selling). The British currency did not observe any further change in the second session and closed at Rs 104 (buying) and Rs 104.20 (selling) respectively.
Canadian dollar opened at Rs 44 (buying) and Rs 44.10 (selling) against the same last week's rate. It did not observe any further change in the evening session and closed at Rs 44 (buying) and Rs 44.10 (selling) respectively.

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