Rising demand for dollars in the interbank market on Wednesday pushed the rupee value sharply down in the open market, shedding 12 paisa for buying and selling at Rs 59.40 and Rs 59.50, dealers said. Thus, the rupee has lost 20 paisa versus dollar since the week started, they added. Continued buying by the interbank market tumbled the rates in the open market, they added.
They said that a 100 million dollars debt repayment by Parco this week kept the rupee in the minus column and it seemed that the rising imports bill would keep the rupee under pressure.
The oil import bills had risen significantly in recent weeks due to upward trend in oil prices in world market, which made the dollar's demand up in the local market, market sources said.
The rupee fell marginally and shed 15 paisa versus euro for buying and selling at Rs 71.90 and Rs 72.20, dealers said. Dollar was down versus major currencies in the international markets, they added.
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Kerb buying Rs 59.40
Kerb selling Rs 59.50
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Buying Rs 58.87
Selling Rs 58.89
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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 1.00 2.00 1.25 2.25 1.63
1-Week 1.25 1.75 2.00 2.50 1.88
2-Week 1.50 1.75 2.00 2.25 1.88
1-Month 1.75 2.25 2.40 2.70 2.28
2-Months 2.00 2.25 2.50 2.75 2.38
3-Months 2.25 2.50 2.75 2.90 2.60
4-Months 2.40 2.50 2.80 3.00 2.68
5-Months 2.50 2.75 3.00 3.25 2.88
6-Months 2.70 2.80 3.00 3.20 2.93
9-Months 2.90 3.10 3.40 3.70 3.28
1-Year 3.20 3.40 3.75 3.90 3.56
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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 1.25 2.00 1.50 2.50 1.81
1-Week 1.50 1.75 2.00 2.75 2.00
2-Week 1.50 1.75 2.00 2.25 1.88
1-Month 2.00 2.50 2.75 3.00 2.56
2-Month 2.25 2.50 2.75 3.00 2.63
3-Month 2.50 2.75 3.00 3.25 2.88
4-Month 2.60 2.90 3.20 3.40 3.03
5-Month 2.75 2.90 3.25 3.50 3.10
6-Month 2.90 3.10 3.50 3.90 3.35
9-Month 3.10 3.30 3.70 3.90 3.50
1-Year 3.40 3.60 4.00 4.10 3.78
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