THE RUPEE: five paisa gain in open market

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THE RUPEE: five paisa gain in open market

29 Sep, 2005

Inflows of dollar helped the rupee to sustain its firmness versus the US currency in the open market, picking up five paisa for buying and selling at 60.30 and 60.40, respectively.
The rupee came under pressure some time back on rising dollars' demand to meet the payment requirements.
The rupee, however, lost 15 paisa versus the euro for buying and selling at Rs 72.60 and Rs 72.80 in process of trading, dealers said.
In the overseas markets, the dollar posted fresh gain versus the leading currencies, moneychangers said.
According to the market sources, strong supply of dollars boosted the rupee's value and it seems that the rupee may retain its rising trend ahead of the Ramazan.


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Kerb Buying             Rs 60.30
Kerb Selling            Rs 60.40
================================


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Buying                Rs 59.68
Selling               Rs 59.70
==============================
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Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight   8.25       8.75       8.25        8.90           8.54
1-Week      7.80       8.10       7.90        8.20           8.00
2-Week      7.60       7.80       7.90        8.10           7.85
1-Month     7.75       7.90       8.00        8.15           7.95
2-Months    7.80       7.90       8.00        8.10           7.95
3-Months    7.90       8.00       8.05        8.20           8.04
4-Months    8.00       8.20       8.20        8.40           8.20
5-Months    8.10       8.30       8.30        8.50           8.30
6-Months    8.20       8.35       8.30        8.50           8.34
9-Months    8.25       8.50       8.40        8.60           8.44
1-Year      8.45       8.65       8.70        8.80           8.65
=================================================================
Call Rates (Yield p a)
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Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight   8.50       9.00       8.50        9.25           8.81
1-Week      8.30       8.60       8.75        9.00           8.66
2-Week      8.00       8.25       8.25        8.75           8.31
1-Month     8.00       8.75       8.25        9.00           8.50
2-Months    8.30       8.75       8.75        9.00           8.70
3-Months    8.40       9.00       8.60        9.25           8.81
4-Months    8.40       9.00       8.60        9.25           8.81
5-Months    8.40       9.00       8.80        9.35           8.89
6-Months    8.50       9.25       9.00        9.50           9.06
9-Months    8.75       9.40       9.20        9.60           9.24
1-Year      9.00       9.50       9.60        9.75           9.46
=================================================================

According to the currency dealers, the dollar commenced trading at Tuesday's closing rates of Rs 60.45 and Rs 60.55 on buying and selling counters, respectively. However, it could not sustain and started declining for the lack of buying support. At the end, the greenback closed lower at Rs 60.40 and Rs 60.50 on buying and selling sides, respectively, the dealers added.
Similarly, the rupee maintained upward slide and further improved its worth against the pound sterling. The British pound was purchased at Rs 106.80, and sold at Rs 107.20 as compared to previous closing rates of Rs 106.90 and Rs 107.30, they said.
The dollar opened at Rs 60.30 (buying) and Rs 60.40 (selling) in the morning session. It did not observe any further change in the evening session, and closed at Rs 60.30 (buying) and Rs 60.40 (selling).
Pound sterling opened at Rs 107 (buying) and Rs 107.40 (selling) in the first session. It did not show any further change by the end of second session, and closed at Rs 107 (buying) and Rs 107.25 (selling).

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