The demand for dollar rose in the interbank market on Tuesday and the rupee shed more two paisa versus the greenback at Rs 57.92 and Rs 57.94 for buying and selling, respectively, market men said.
Corporate demand for big payments would keep the rupee under pressure in terms of dollar, they said.
Analysts said that the slide in rupee value might help the dollar to cross the psychological mark of Rs 58 in the interbank market.
In fact, the upward trend in oil prices globally pushed the oil payments higher, they said, adding that the banks were mostly buying dollars from the open market to meet their demand.
In world markets, the US currency slipped against most of currency units as investors did not indulge in hectic buying of greenback.
The rupee failed to show same sentiment versus the euro, losing 50 paisa for buying and selling at Rs 70.50 and Rs 70.80 on fresh buying of the single European currency.
When dollar started showing weakness in world markets, investors diverted their attention to trading in other currencies.
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Kerb buying Rs 58.45
Kerb selling Rs 58.50
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Buying Rs 57.92
Selling Rs 57.94
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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 0.05 0.25 0.15 0.50 0.24
1-Week 0.25 0.50 0.75 1.00 0.63
2-Week 0.75 1.00 1.25 1.50 1.13
1-Month 2.40 2.60 2.80 3.00 2.70
2-Months 2.50 2.70 2.90 3.10 2.80
3-Months 2.50 2.70 2.90 3.10 2.80
4-Months 2.50 2.70 2.90 3.10 2.80
5-Months 2.70 2.90 3.10 3.30 3.00
6-Months 2.75 3.00 3.25 3.50 3.13
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 0.20 0.40 0.30 0.60 0.38
1-Week 0.50 0.75 1.00 1.25 0.88
2-Week 1.00 1.25 1.50 1.75 1.38
1-Month 2.50 2.75 3.00 3.25 2.88
2-Month 2.70 2.90 3.10 3.30 3.00
3-Month 2.75 3.00 3.25 3.50 3.13
4-Month 2.75 3.00 3.25 3.50 3.13
5-Month 3.00 3.25 3.50 3.75 3.38
6-Month 3.00 3.25 3.50 3.75 3.38
9-Month 3.25 3.50 3.75 4.00 3.63
1-Year 3.40 3.60 3.80 4.00 3.70
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