Higher inflows boosted the rupee's value versus the dollar in the currency market on Wednesday, dealers said.
The rupee in the kerb market picked up 10 paisa versus the dollar for buying and selling at 59.65 and 59.75, respectively.
Fresh inflows of dollar strengthened the rupee versus the greenback, dealers said adding that how the rupee would maintain its firmness in the coming days will depend on the demand and supply factor of the US currency.
Versus the euro, the rupee lost 35 paisa for buying and selling at Rs 71.65 and Rs 71.45, respectively, dealers said.
In the international markets, the dollar was higher versus the yen after the increase in the US interest rates, they said.
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Kerb Buying Rs 59.65
Kerb Selling Rs 59.75
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Buying Rs 59.71
Selling Rs 59.73
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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 8.90 8.90 8.90 8.90 8.90
1-Week 8.60 8.75 8.80 8.90 8.76
2-Week 8.40 8.65 8.70 8.90 8.66
1-Month 8.40 8.60 8.55 8.70 8.56
2-Months 8.35 8.45 8.45 8.55 8.45
3-Months 8.30 8.50 8.45 8.60 8.46
4-Months 8.35 8.50 8.50 8.65 8.50
5-Months 8.40 8.50 8.50 8.70 8.53
6-Months 8.50 8.60 8.60 8.75 8.61
9-Months 8.50 8.65 8.65 8.75 8.64
1-Year 8.55 8.70 8.75 8.85 8.71
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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 9.00 9.50 9.50 10.00 9.50
1-Week 8.90 9.25 9.50 10.00 9.41
2-Week 8.75 9.25 9.50 10.00 9.38
1-Month 8.75 9.00 9.25 9.50 9.13
2-Months 8.60 9.25 9.25 9.75 9.21
3-Months 8.75 9.50 9.00 9.90 9.29
4-Months 8.75 9.50 9.00 10.00 9.31
5-Months 8.80 9.60 9.25 10.00 9.41
6-Months 8.75 9.75 9.15 10.00 9.41
9-Months 8.80 9.75 9.35 10.00 9.48
1-Year 9.10 10.00 9.70 10.20 9.75
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According to the currency dealers, there was no change in dollar's demand and supply condition, which helped the local currency maintain its value. The greenback commenced trading at overnight closing rates of Rs 59.65 and Rs 59.75 on buying and selling counters, respectively. However, the dollar did not witness any fluctuation in its worth during the day's trading and finally closed at the opening levels, the dealers added.
However, the local currency marginally improved its value against the pound sterling. The pound sterling buying rate further moved down from Rs 104.70 to Rs 104.60, while selling rate slashed down from Rs 105.10 to Rs 105.00, the dealers added.
The dollar opened at Rs 59.50 (buying) and Rs 59.70 (selling) against same last rate. It did not observe any further change in the second spell and closed at Rs 59.50 (buying) and Rs 59.70 (selling).
Pound sterling opened at Rs 105.30 (buying) and Rs 106 (selling) against same overnight value. It did not observe any further change in the last trading hours and closed at Rs 105.30 (buying) and Rs 106 (selling).