Despite rising demand for dollars in the interbank market on Wednesday, the rupee did not show big change versus the dollar at Rs 59.45 and Rs 59.46 for buying and selling, respectively, money experts said. They said that importers' demand for dollars for payments kept the rupee under pressure slightly but steady dollars supply did not allow the rupee to erode its gains sharply. The dollar came out of the weak spell versus leading currencies in international markets, taking a boost from the rising home sales data.
The euro lost further ground versus the local currency for buying and selling at Rs 77.25 and 77.55, respectively.
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Kerb Buying Rs 59.95
Kerb Selling Rs 60.05
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Buying Rs 59.45
Selling Rs 59.46
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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 1.50 1.00 2.00 1.31
1-Week 4.50 4.75 5.00 5.25 4.88
2-Week 5.00 5.50 6.00 6.50 5.75
1-Month 5.25 5.50 6.00 6.25 5.75
2-Months 5.75 6.00 6.25 6.50 6.13
3-Months 6.25 6.40 6.75 7.00 6.60
4-Months 6.00 6.25 6.70 6.80 6.44
5-Months 6.25 6.50 6.75 6.90 6.60
6-Months 7.00 7.25 7.50 8.00 7.44
9-Months 7.25 7.50 7.75 8.25 7.69
1-Year 7.75 8.00 8.25 8.75 8.19
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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 2.25 2.50 2.00
1-Week 5.50 6.00 6.25 6.50 6.06
2-Week 5.75 6.25 6.75 7.25 6.50
1-Months 6.00 6.25 6.50 6.75 6.38
2-Months 6.00 6.50 6.75 7.25 6.63
3-Months 6.50 7.00 7.25 7.50 7.06
4-Months 7.00 7.25 7.50 7.70 7.36
5-Months 7.25 7.50 7.75 8.00 7.63
6-Months 7.50 7.80 8.20 8.30 7.95
9-Months 7.75 8.00 8.25 8.40 8.10
1-Year 8.00 8.25 8.50 8.75 8.38
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According to the currency dealers, there was no change in the demand for dollar and its supply condition, which provided stability to the rupee. The dollar's trading commenced at overnight closing rates of Rs 59.95 and Rs 60.05 on buying and selling counters, respectively. The opening rates continued to prevail throughout the day, the dealers said.
On the contrary, the rupee maintained upward trend and further appreciated its worth against the pound sterling. The British pound was purchased at Rs 114.00, and sold at Rs 114.40 as compared to previous closing rates of Rs 114.05 and Rs 114.50, they added.
The dollar opened at Rs 59.90 (buying) and Rs 60 (selling) against the last rate. It did not observe any further change in the second spell, and closed at Rs 59.90 (buying) and Rs 60 (selling).
Pound sterling opened at Rs 114 (buying) and Rs 114.20 (selling) against the previous rate. It did not observe any change in the second session, and closed at Rs 114 (buying) and Rs 114.20 (selling).