The high demands for dollars in the interbank market, encouraged the greenback to cross the barrier of Rs 60 in the open market on Thursday, dealers said. The rupee lost 15 paisa in a single day slide, and since the month started, it has lost near 40-50 paisa for buying and selling at Rs 60.00 and Rs 60.10 in the open market, they added.
Market sources said the rupee might show its weakness in the coming days due to rising demand for dollars in the local market for the payment of foreign bills.
According to a report, the government is watching the fluctuations carefully. It might review the 1992 Forex Liberalisation Act to ease pressure over the rupee.
The rupee shed 10 paisa versus the euro for buying and selling at Rs 73.55 and Rs 73.85, dealers said.
In the world markets, the dollar moved both ways versus the leading currencies, they added.
Rising payment bills as a result of higher oil prices in the global market might push the dollar to cross Rs 60 in the near future, money experts said.
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Kerb Buying Rs 60.00
Kerb Selling Rs 60.15
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Buying Rs 59.63
Selling Rs 59.65
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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 6.50 7.40 7.00 7.40 7.08
1-Week 5.25 5.50 5.75 6.00 5.63
2-Week 3.50 3.75 4.00 4.25 3.88
1-Month 3.40 3.50 3.75 3.90 3.64
2-Months 3.25 3.50 3.75 4.00 3.63
3-Months 3.25 3.50 3.75 4.00 3.63
4-Months 3.30 3.60 3.90 4.00 3.70
5-Months 3.25 3.50 3.75 4.00 3.63
6-Months 3.50 3.90 4.25 4.50 4.04
9-Months 3.75 4.00 4.40 3.70 3.96
1-Year 3.75 4.00 4.25 4.50 4.13
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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 6.75 7.40 7.25 7.40 7.20
1-Week 5.50 5.75 6.00 6.25 5.88
2-Week 3.75 4.00 4.25 4.75 4.19
1-Month 3.75 4.00 4.25 4.50 4.13
2-Month 3.50 3.75 4.25 4.50 4.00
3-Month 3.50 3.75 4.25 4.50 4.00
4-Month 3.60 3.80 4.30 4.60 4.08
5-Month 3.75 4.25 4.50 4.75 4.31
6-Month 4.00 4.20 4.60 4.75 4.39
9-Month 4.00 4.25 4.75 5.00 4.50
1-Year 4.25 4.50 5.00 5.50 4.81
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