The rupee shed another five paisa against the dollar in the open market on Friday for buying and selling at 59.85 and 59.95 on increase demands by the corporate clients, dealers said. Pressure on buying side, seen in the opening session as the rupee crossed an important mark of 60 per dollar, but the local currency trimmed some losses at close on easy supply of dollars, they added. The rupee recovered some lost ground as the euro and was trading at 77.50 and 77.80, dealers said and adding that the single European currency came under pressure on rising dollar's demand in the international markets.
The dollar is in demand due to quarter-end payment requirements, dealers said and added that it seems that the rupee might show some weakness in the near terms.
In the international markets, the dollar strengthened versus other currencies on expectations of more rise in the US interest rates, dealers said.
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Kerb Buying Rs 59.85
Kerb Selling Rs 59.95
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Buying Rs 59.35
Selling Rs 59.36
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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 2.00 5.00 3.50 6.00 4.13
1-Week 5.00 5.25 5.50 5.75 5.38
2-Week 4.00 4.50 4.75 5.00 3.50
1-Month 4.75 5.00 5.00 5.25 5.00
2-Months 4.60 4.90 5.00 5.50 5.00
3-Months 4.75 5.00 5.25 5.50 5.13
4-Months 4.90 5.25 5.50 5.75 5.35
5-Months 5.00 5.25 5.75 6.25 5.56
6-Months 5.25 5.50 5.75 6.00 5.63
9-Months 5.50 5.80 6.25 6.75 6.08
1-Year 6.00 6.25 6.75 7.00 6.50
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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 6.00 7.50 8.00 8.50 7.50
1-Week 6.00 6.50 7.00 7.50 6.75
2-Week 5.00 5.50 6.00 6.50 5.75
1-Month 4.75 5.00 5.25 5.50 5.13
2-Month 5.00 5.25 5.50 5.75 5.38
3-Month 6.00 6.25 6.50 6.75 6.38
4-Month 6.25 6.50 6.75 7.00 6.63
5-Month 6.30 6.60 6.80 7.10 6.70
6-Month 6.40 6.60 7.00 7.25 6.81
9-Month 6.50 6.75 7.20 7.50 6.99
1-Year 6.60 6.80 7.25 7.50 7.04
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According to the currency dealers, the profit taking led the greenback downward which helped the local currency recover its some of earlier losses. The dollar resumed trading at overnight closing rates of Rs 59.85 and Rs 59.95 as its buying and selling rates, respectively. With the increase in greenback's supply, its rate declined and closed lower at Rs 59.80 and Rs 59.90 on buying and selling sides, respectively, the dealers added.
However, the rupee lost its worth on buying side, while marginally improved on selling side against the pound sterling. The British pound was purchased at Rs 112.20 and was sold at Rs 112.50 as compared to Rs 112.10 and Rs 112.60 of Thursday, the dealers added.
The dollar opened at Rs 59.70 (buying) and Rs 59.80 (selling) against same last rate. It did not observe any further change in the second spell and closed at Rs 59.70 (buying) and Rs 59.80 (selling).
Pound sterling opened at Rs 113.50 (buying) and Rs 113.60 (selling) against same overnight value. It did not observe any change in the second spell and closed at Rs 113.50 (buying) and Rs 113.60 (selling).