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THE RUPEE: slight gains in open market

01 Apr, 2004

Rising trend was seen in the open market on Wednesday as the rupee posted a fresh gain of two paisa versus the dollar at Rs 57.82 and Rs 57.88 respectively, moneychangers said.
In line with the interbank market trend, the rupee managed to gain slightly in terms of dollar, they added.
It, however, shed 20 paisa in relation to the euro for buying and selling at Rs 70.60 and Rs 70.70 respectively.
The dollar hit near four-year low against the yen in the world market, dealers said, adding that Japan was intervening in the market to protect its exports.



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Kerb Buying             Rs 57.82
Kerb Selling            Rs 57.88
================================



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Kerb Buying           Rs 57.47
Kerb Selling          Rs 57.49
==============================
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Repo Rates (Yield p a)
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Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight   0.40       2.50       0.75        3.00           1.66
1-Week      1.20       1.30       1.60        1.80           1.48
2-Week      1.45       1.65       1.90        2.10           1.78
1-Month     1.30       1.40       1.60        1.70           1.50
2-Months    1.40       1.50       1.60        1.70           1.55
3-Months    1.50       1.60       1.80        2.00           1.73
4-Months    1.60       1.70       1.80        2.00           1.78
5-Months    1.65       1.75       1.85        2.00           1.81
6-Months    1.70       1.75       1.90        2.10           1.86
9-Months    2.10       2.30       2.50        2.70           2.40
1-Year      2.20       2.40       2.60        2.80           2.50
=================================================================
Call Rates (Yield p a)
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Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight   0.60       2.75       0.80        3.25           1.85
1-Week      1.30       1.50       1.80        2.20           1.65
2-Week      1.60       1.80       2.10        2.30           1.95
1-Month     1.40       1.50       1.70        1.90           1.63
2-Month     1.50       1.60       1.70        1.80           1.65
3-Month     1.60       1.70       2.00        2.20           1.88
4-Month     1.70       1.90       2.00        2.20           1.95
5-Month     1.70       1.80       1.90        2.00           1.85
6-Month     1.80       2.00       2.20        2.40           2.10
9-Month     2.20       2.40       2.60        2.80           2.50
1-Year      2.30       2.50       2.70        2.90           2.60
=================================================================

The dollar resumed trading at Rs 57.85 and Rs 57.90 as its buying and selling rates, respectively. A slight increase was witnessed in dollar's demand, which helped appreciation in its worth on selling side while buying rate remained subdued. The greenback was traded at Rs 57.85 and Rs 57.95 on buying and selling counters, respectively, the dealers added.
Similarly, the rupee remained under pressure and moved down against the pound sterling. The pound's buying rate improved from Tuesday's closing rate of Rs 105.00 to Rs 105.80, while selling rate moved up from Rs 105.40 to Rs 106.20, the dealers added.
It opened at Rs 57.80 (buying) and Rs 57.90 (selling) against the last rate of Rs 57.70 (buying) and Rs 57.80 (selling). It did not observe any further change in the second spell, and closed at Rs 57.80 (buying) and Rs 57.90 (selling).
The pound sterling opened at Rs 105.80 (buying) and Rs 105.90 (selling) against the last rate of Rs 104.80 (buying) and Rs 104.90 (selling). It did not observe any further change in the second session, and closed at Rs 105.80 (buying) and Rs 105.90 (selling).
The Canadian dollar opened at Rs 43.60 (buying) and Rs 43.70 (selling) against the same overnight value. It did not observe any further change in the evening session and closed at Rs 43.60 (buying) and Rs 43.70 (selling).

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