Upward trend persisted in the interbank market on Tuesday as the rupee recovered nine paisa more against the dollar for buying and selling at 59.73 and 59.74 on high inflows of dollar, money changers said.
Strong supply of dollars pushed the rupee up versus the dollar in the interbank market, they said. The higher inflows by the expatriates and fresh dollar' supply by the donors in shape of foreign exchange for earthquake victims strengthened the rupee's value against the dollar, dealers said.
In the world markets, the dollar moved in a narrow band versus most of the currencies, dealers said.
The rupee, however, gained 25 paisa against the euro for buying and selling at Rs 70.00 and Rs 70.10 on falling demand of the single European currency in the overseas markets, they said.
================================
Kerb Buying Rs 60.05
Kerb Selling Rs 60.10
================================
==============================
Buying Rs 59.73
Selling Rs 59.74
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 8.70 8.90 8.75 8.90 8.81
1-Week 8.25 8.50 8.60 8.75 8.53
2-Week 8.30 8.45 8.55 8.65 8.49
1-Month 8.10 8.20 8.25 8.40 8.24
2-Months 8.20 8.40 8.35 8.50 8.36
3-Months 8.20 8.40 8.35 8.50 8.36
4-Months 8.30 8.40 8.40 8.60 8.43
5-Months 8.35 8.45 8.50 8.65 8.49
6-Months 8.35 8.50 8.60 8.70 8.54
9-Months 8.50 8.60 8.60 8.75 8.61
1-Year 8.50 8.60 8.60 8.80 8.63
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 9.25 9.50 9.50 10.00 9.56
1-Week 8.75 9.00 8.90 9.50 9.04
2-Week 8.50 8.90 9.25 9.50 9.04
1-Month 8.75 9.25 9.25 9.50 9.19
2-Months 9.00 9.50 9.50 9.75 9.44
3-Months 8.75 9.50 9.25 9.75 9.31
4-Months 8.90 9.50 9.35 9.80 9.39
5-Months 8.95 9.60 9.50 10.00 9.51
6-Months 8.95 9.50 9.40 10.15 9.50
9-Months 8.90 9.75 9.50 10.20 9.59
1-Year 9.25 10.00 9.75 10.50 9.88
=================================================================
According to the currency dealers, the dollar could not sustain and depreciated its value. The dollar's trading commenced at Monday's closing rates of Rs 60.10 and Rs 60.20 on buying and selling counters, respectively. Due to lacking buying support, the dollar moved down and closed at Rs 60.05 and Rs 60.15 on buying and selling sides, respectively, the dealers added.
Similarly, the local currency remained firm and appreciated its worth against the pound sterling. The pound's buying rate declined from Rs 102.50 to Rs 102.40, while selling rate closed at Rs 102.80 as against Rs 102.90 of Monday, the dealers added.
The dollar opened at Rs 60 (buying) and Rs 60.10 (selling) against same overnight value. Ever-favourite greenback did not observe any further change and closed at Rs 60 (buying) and Rs 60.10 (selling).
Pound sterling opened at Rs 102.30 (buying) and Rs 103 (selling) against same previous rate. It did not observe any change in the second session and closed at Rs 102.30 (buying) and Rs 103 (selling).