Liquidity crunch in the money market and importers' less buying interest helped the rupee to recover one paisa in the interbank market versus dollar for buying and selling at Rs 58.71 and Rs 58.73, dealers said.
However, they added that the local unit might come under pressure from large debt and oil payments in the coming weeks.
The rupee was resisting further erosion on the back of expectations of fresh inflows of dollars and partly because of selling by the State Bank to keep the greenback below Rs 59 mark, according to market sources.
In the world markets, the dollar managed to gain versus the euro and yen on hopes of better-than-expected US economic data.
The rupee gained nearly Re one against euro for buying and selling at Rs 71.55 and Rs 71.85 as the European single currency lost its solid ground in the international markets, they said.
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Kerb buying Rs 59.10
Kerb selling Rs 59.15
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Buying Rs 58.71
Selling Rs 58.73
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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 4.50 6.00 5.00 6.50 5.50
1-Week 2.25 2.50 3.00 3.25 2.75
2-Week 2.25 2.50 2.75 3.00 2.63
1-Month 1.90 2.00 2.10 2.20 2.05
2-Months 2.00 2.25 2.40 2.60 2.31
3-Months 2.25 2.40 2.50 2.60 2.44
4-Months 2.25 2.40 2.60 2.75 2.50
5-Months 2.30 2.60 2.75 3.00 2.66
6-Months 2.50 2.75 3.00 3.25 2.88
9-Months 2.75 3.00 3.25 3.50 3.13
1-Year 3.50 3.75 3.90 4.00 3.79
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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 5.00 6.00 5.50 6.50 5.75
1-Week 2.50 2.75 3.25 3.50 3.00
2-Week 2.50 2.75 3.25 3.50 3.00
1-Month 2.00 2.10 2.50 2.75 2.34
2-Month 2.20 2.40 2.60 2.75 2.49
3-Month 2.40 2.60 2.75 3.00 2.69
4-Month 2.50 2.75 2.75 3.00 2.75
5-Month 2.50 2.75 2.90 3.10 2.81
6-Month 2.75 3.00 3.25 3.50 3.13
9-Month 3.25 3.50 3.75 4.00 3.63
1-Year 3.50 3.75 4.00 4.25 3.88
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