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THE RUPEE: 25 paisa gain versus euro

15 Apr, 2004

The rupee on Wednesday maintained its rise versus the euro, gaining 25 paisa more for buying and selling at Rs 68.75 and Rs 69.05, respectively.
Since the week started, the rupee showed gradual rise in its value in relation to the euro on its falling demand in the world markets, dealers said.
The rupee, however, shed two paisa versus the dollar for buying and selling at Rs 57.70 and Rs 57.75, they added.
In the world markets, the dollar was higher in relation to the euro on surging the US retail sales report, they added.

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Kerb Buying             Rs 57.70
Kerb Selling            Rs 57.75
================================

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Buying                Rs 57.48
Selling               Rs 57.50
==============================
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Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight   0.10       0.50       0.50        0.75           0.46
1-Week      0.40       0.60       0.80        1.00           0.70
2-Week      0.80       0.90       1.10        1.25           1.01
1-Month     1.20       1.30       1.50        1.60           1.40
2-Months    1.30       1.50       1.60        1.70           1.53
3-Months    1.45       1.65       1.80        1.90           1.70
4-Months    1.50       1.70       1.90        2.00           1.78
5-Months    1.60       1.70       1.90        2.10           1.83
6-Months    1.70       1.80       2.00        2.20           1.93
9-Months    2.00       2.20       2.40        2.60           2.30
1-Year      2.20       2.40       2.60        2.80           2.50
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight   0.30       0.50       0.70        0.90           0.60
1-Week      0.60       0.80       1.00        1.20           0.90
2-Week      1.00       1.20       1.40        1.50           1.28
1-Month     1.30       1.50       1.70        1.90           1.60
2-Month     1.40       1.60       1.80        2.00           1.70
3-Month     1.60       1.80       2.00        2.20           1.90
4-Month     1.70       1.90       2.10        2.20           1.98
5-Month     1.90       2.10       2.30        2.50           2.20
6-Month     2.00       2.40       2.40        2.60           2.35
9-Month     2.20       2.40       2.60        2.80           2.50
1-Year      2.40       2.60       2.80        3.00           2.70
=================================================================

The currency markets witnessed fresh buying of the dollar, which appreciated its worth against the rupee. The dollar, after resuming at Tuesday's closing rates of Rs 57.65 and Rs 57.73 on buying and selling counters, respectively, started rising.
At the end, the greenback closed at Rs 57.70 and Rs 57.75 on buying and selling sides, respectively, the currency dealers said.
On the other hand, the rupee remained strong and improved its worth against the pound sterling, whose buying rate declined from overnight closing rate of Rs 105.25 to Rs 104.00, while its selling rate moved down from Rs 105.75 to Rs 104.50, they added.
It opened at Rs 57.70 (buying) and Rs 57.80 (selling) against the last rate of Rs 57.55 (buying) and Rs 57.65 (selling). It did not observe any further change in the evening session, and closed at Rs 57.70 (buying) and Rs 57.80 (selling).
The pound sterling opened at Rs 104.30 (buying) and Rs 104.50 (selling) against the last rate of Rs 105 (buying) and Rs 105.10 (selling). It did not witness any further change in the evening session, and closed at Rs 104.30 (buying) and Rs 104.50 (selling).
The Canadian dollar opened at Rs 43 (buying) and Rs 43.10 (selling) against the overnight value of Rs 43.15 (buying) and Rs 43.25 (selling). It remained firm against the rupee in the second session, and closed at Rs 43 (buying) and Rs 43.10 (selling).
The euro opened at Rs 69 (buying) and Rs 69.10 (selling). The single European currency did not observe any further change in the second session, and closed at Rs 69 (buying) and Rs 69.10 (selling).

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