With the start of new fiscal year, the rupee firmed up in the interbank market on Friday at Rs 58.15 and Rs 58.15 for buying and selling, respectively, dealers said.
In the meantime, they said, the rupee may not continue its firmness as a result of rising dollar demand next week as the corporate sector would cover short-term position for the upcoming debt payments.
The local currency may not fall very sharply, as the inflow of remittances usually rises in the month of July, which could support the rupee slightly.
In the world markets, the dollar gave up its weakness versus leading currencies ahead of job data, moneychangers said.
The rupee, however, maintained its overnight levels versus dollar for buying and selling at Rs 58.50 and Rs 58.55, dealers said.
================================
Kerb Buying Rs 58.50
Kerb Selling Rs 58.55
================================
==============================
Buying Rs 58.14
Selling Rs 58.15
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 0.15 0.30 0.30 0.50 0.31
1-Week 0.50 1.00 1.25 1.50 1.06
2-Week 2.00 2.25 2.50 2.75 2.38
1-Month 1.70 1.90 2.10 2.30 2.00
2-Months 2.00 2.20 2.40 2.60 2.30
3-Months 2.20 2.40 2.60 2.80 2.50
4-Months 2.30 2.50 2.70 2.90 2.60
5-Months 2.30 2.50 2.70 2.90 2.60
6-Months 2.40 2.60 2.80 3.00 2.70
9-Months 2.80 3.00 3.20 3.40 3.10
1-Year 3.00 3.20 3.40 3.60 3.30
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 0.30 0.50 0.60 0.70 0.53
1-Week 0.75 1.00 1.25 1.50 1.13
2-Week 2.25 2.50 2.75 3.00 2.63
1-Month 2.00 2.20 2.40 2.60 2.30
2-Month 2.20 2.40 2.60 2.80 2.50
3-Month 2.40 2.60 2.80 3.00 2.70
4-Month 2.60 2.80 3.00 3.20 2.90
5-Month 2.60 2.80 3.00 3.20 2.90
6-Month 2.70 2.60 3.10 3.30 3.00
9-Month 3.00 3.25 3.50 3.75 3.38
1-Year 3.20 3.40 3.60 3.80 3.50
=================================================================
=================================================================