The rupee on Saturday recovered modest ground versus the dollar in the interbank market, rising four paisa for buying and selling at 59.62 and 59.64, respectively. Strong supply of dollar and less demand due to closure of the international market, the rupee gained and it seems that it might maintain its levels in the near future, money experts said.
In the overseas market, as a result of falling trend in the prices of oil, the dollar managed to show firmness versus the major currencies, they said.
The rupee managed to recover 20 paisa versus the euro for buying and selling at Rs 73.40 and Rs 73.70, respectively.
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Kerb Buying Rs 60.05
Kerb Selling Rs 60.15
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Buying Rs 59.62
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 4.00 7.50 4.75 7.75 6.00
1-Week 5.75 6.00 6.25 6.50 6.13
2-Week 6.75 7.00 7.25 7.50 7.13
1-Month 7.25 7.50 7.75 7.90 7.60
2-Months 7.35 7.60 7.85 8.00 7.70
3-Months 7.50 7.75 7.90 8.00 7.79
4-Months 7.60 7.80 8.00 8.05 7.86
5-Months 7.70 7.90 8.10 8.15 7.96
6-Months 7.80 8.00 8.15 8.30 8.06
9-Months 8.00 8.10 8.30 8.45 8.21
1-Year 8.25 8.50 8.75 8.90 8.60
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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 4.50 8.00 5.25 8.25 6.50
1-Week 6.00 6.50 6.75 7.00 6.56
2-Week 7.25 7.50 7.75 8.00 7.63
1-Month 7.75 8.00 8.25 8.40 8.10
2-Months 7.85 8.10 8.35 8.50 8.20
3-Months 8.00 8.40 8.50 8.60 8.38
4-Months 8.25 8.40 8.60 8.70 8.49
5-Months 8.30 8.50 8.75 8.80 8.59
6-Months 8.50 8.70 8.85 8.95 8.75
9-Months 8.75 8.90 9.20 9.30 9.04
1-Year 9.00 9.25 9.60 9.75 9.40
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According to the currency dealers, the dollar's trading commenced at overnight closing rates of Rs 60.10 and Rs 60.20 on buying and selling counters, respectively. In view of surge in the demand for the greenback, it improved its worth and closed at Rs 60.15 and Rs 60.25 as its buying and selling rates, respectively.
Moreover, the rupee improved its value against the pound sterling. The pound's buying rate declined from Friday's closing rate of Rs 107.75 to Rs 107.40, while its selling rate moved down from Rs 107.95 to Rs 107.75, the dealers added.
The greenback opened at Rs 60.20 (buying) and Rs 60.40 (selling) against the last rate of Rs 60 (buying) and Rs 60.10 (selling). It did not witness any change in the second session, and closed at Rs 60.20 (buying) and Rs 60.40 (selling).
Pound sterling opened at Rs 107.40 (buying) and Rs 108 (selling) against the overnight value of Rs 107.50 (buying) and Rs 107.80 (selling). It did not observe any further change by the end of the second session and closed at Rs 107.40 (buying) and Rs 108 (selling).