Steadier trend was witnessed in the interbank market on Wednesday as the rupee inched up after making one paisa recovery versus the dollar for buying and selling at 59.63 and 59.64, dealers said. Some improvement in the dollars' supply position supported the rupee as demands for dollar persisted by the importers.
But inflows of dollars in shape of remittances and foreign investments in the country were preventing the rupee from sharp fall versus the US currency, money experts said.
In the world markets, the dollar drifted lower versus the leading currencies ahead of the US job data, currency dealers said.
The local currency failed to show any improvement versus the euro,in stead lost 30 paisa for buying and selling at Rs 71.90 and Rs 72.10,
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Kerb Buying Rs 60.45
Kerb Selling Rs 60.50
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Buying Rs 59.63
Selling Rs 59.64
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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 7.00 8.90 8.00 8.90 8.20
1-Week 7.25 7.50 7.75 8.00 7.63
2-Week 7.00 7.25 7.50 7.75 7.38
1-Month 7.25 7.35 7.55 7.65 7.45
2-Months 7.25 7.40 7.60 7.70 7.49
3-Months 7.50 7.75 7.60 8.00 7.71
4-Months 7.50 7.80 7.75 8.00 7.76
5-Months 7.65 7.90 8.00 8.25 7.95
6-Months 7.85 8.00 8.10 8.25 8.05
9-Months 7.90 8.15 8.40 8.65 8.28
1-Year 8.25 8.50 8.75 9.00 8.63
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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 8.25 9.00 8.75 9.00 8.75
1-Week 7.50 7.75 8.00 8.25 7.88
2-Week 7.25 7.50 7.70 8.00 7.61
1-Month 7.50 7.70 7.90 8.00 7.78
2-Months 7.60 7.75 7.80 8.10 7.81
3-Months 8.00 8.40 8.40 8.60 8.35
4-Months 8.10 8.40 8.40 8.65 8.39
5-Months 8.20 8.40 8.50 8.70 8.45
6-Months 8.25 8.50 8.50 8.75 8.50
9-Months 8.40 8.65 8.90 9.20 8.79
1-Year 8.90 9.10 9.30 9.50 9.20
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According to the currency dealers, there was no change in the demand for the dollar and its supply condition, which helped the rupee maintain its earlier position. The dollar's trading commenced at overnight closing rates of Rs 60.65 and Rs 60.75 on buying and selling counters, respectively. The dollar recorded fractional change in its worth during the day, but finally closed at the opening rates, the dealers said.
On the contrary, the rupee maintained downward trend versus the pound sterling and further lost its value on buying side at Rs 106.10 while improved its worth on selling side at Rs 106.50 in relation to the pound sterling. The British pound was purchased at Rs 106.10, and sold at Rs 106.50 as compared to Tuesday's closing rates of Rs 106.00 and Rs 106.70, they added.
The dollar opened at Rs 60.40 (buying) and Rs 60.50 (selling) against the previous rate. It did not observe any further change in the second session, and closed at Rs 60.40 (buying) and Rs 60.50 (selling).
Pound sterling opened at Rs 109.50 (buying) and Rs 109.80 (selling) against the previous rate. It did not witness any further change, and closed at Rs 109.50 (buying) and Rs 109.80 (selling).