At the weekend, the rupee lost its week-long stability as a result of importers' forward dollar buying for payments, pushing the rupee-dollar parity down in the interbank market for buying and selling at Rs 58.68 and Rs 58.70, market men said.
Increased dollar selling by exporters continued to outweigh the generally weak corporate demand, they said, adding that in the near term the local currency might come under pressure again.
In the meantime, some dealers said that the 55 billion rupees inflow next week would ease pressure on short-term rates.
They said the money market was likely to see increased activity in the next three to four weeks, with rates inching up as banks would cover positions for routine quarterly payments.
The dollar posted modest gain on the back of positive data in the world markets, dealers said.
The rupee, however, depicted a gain of 55 paisa in relation to the single European currency, euro, at Rs 71.05 and Rs 71.35.
Robust US economic data strengthened the dollar, helping it to shrug off its weakness versus leading currencies, dealers said.
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Kerb buying Rs 59.17
Kerb selling Rs 59.22
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Buying Rs 58.68
Selling Rs 58.70
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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 0.75 2.50 1.25 4.00 2.13
1-Week 1.25 2.25 2.00 2.75 2.06
2-Week 1.75 2.00 2.25 2.50 2.13
1-Months 1.80 2.00 2.20 2.40 2.10
2-Months 1.90 2.10 2.30 2.50 2.20
3-Months 2.00 2.20 2.30 2.50 2.25
4-Months 2.20 2.40 2.50 2.70 2.45
5-Months 2.40 2.60 2.80 3.00 2.70
6-Months 2.60 2.80 3.00 3.20 2.90
9-Months 2.80 3.00 3.20 3.40 3.10
1-Year 3.00 3.40 3.40 3.80 3.40
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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 6.25 3.50 7.00 4.50 5.31
1-Week 1.50 2.50 2.25 3.00 2.31
2-Week 2.00 2.25 2.50 2.75 2.38
1-Month 2.00 2.20 2.40 2.60 2.30
2-Month 2.10 2.30 2.50 2.70 2.40
3-Month 2.20 2.40 2.60 2.80 2.50
4-Month 2.40 2.60 2.80 3.00 2.70
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 3.00 3.25 3.50 3.75 3.38
1-Year 3.40 3.60 3.80 4.00 3.70
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