The rupee-dollar parity rates on Wednesday drifted lower in the open market, losing five paisa at Rs 58.25 and Rs 58.30 for buying and selling, respectively.
Increased dollar buying in the interbank markets forced the rupee to surrender its firmness, experts said.
Huge payment requirements ahead of budget and some demand by small investors compelled the banks to make excessive buying of dollars from open market, they added.
In the meantime, profit-taking was again witnessed in euro trading as the rupee managed to recover 55 paisa versus euro for buying and selling at Rs 71.00 and Rs 71.30.
The dollar has taken a boost versus dollar from the Greenspan statement in which he said that to keep inflation in check the Federal Reserve Bank will do 'what is required.'
The rupee gained three paisa in relation to the greenback on the buying and selling counters at Rs 57.79 and Rs 57.81, respectively.
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Kerb Buying Rs 58.25
Kerb Selling Rs 58.30
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Buying Rs 57.79
Selling Rs 57.81
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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 0.40 0.50 0.50 0.75 0.54
1-Week 1.00 1.25 1.50 1.75 1.38
2-Week 1.25 1.50 1.75 2.00 1.63
1-Month 2.00 2.20 2.40 2.60 2.30
2-Months 2.20 2.40 2.60 2.80 2.50
3-Months 2.20 2.40 2.90 3.10 2.65
4-Months 2.30 2.50 2.70 2.90 2.60
5-Months 2.40 2.60 2.80 3.00 2.70
6-Months 2.50 2.70 2.90 3.10 2.80
9-Months 3.00 3.20 3.40 3.60 3.30
1-Year 3.20 3.40 3.60 3.80 3.50
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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 0.50 0.70 0.90 1.10 0.80
1-Week 1.25 1.50 1.75 2.00 1.63
2-Week 1.50 1.75 2.00 2.25 1.88
1-Month 2.20 2.50 2.70 2.90 2.58
2-Month 2.40 2.60 2.80 3.00 2.70
3-Month 2.40 2.60 2.80 3.00 2.70
4-Month 2.50 2.70 2.90 3.10 2.80
5-Month 2.60 2.80 3.00 3.20 2.90
6-Month 2.80 3.00 3.20 3.40 3.10
9-Month 3.20 3.40 3.60 3.80 3.50
1-Year 3.40 3.60 3.80 4.00 3.70
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