All is well that ends well is proved in the interbank market as the rupee ended the week, and the year, on a happy note, showing a net gain of six paisa in terms of the US currency for buying and selling at 59.73 and 59.75, respectively.
Market sources said that strong supply of dollar boosted the rupee's value in the market, it is also expected that the rupee may continue its firmness in the near future.
The dollar climbed against the major currencies in the world markets, ending an eventful year with gains of around 15 percent against yen and euro, dealers said.
Versus the euro, the rupee extended it overnight gains, picking up 20 paisa for buying and selling at Rs 70.40 and Rs 70.50, they added.
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Kerb Buying Rs 59.90
Kerb Selling Rs 59.95
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Buying Rs 59.73
Selling Rs 59.75
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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 6.00 8.00 7.00 8.50 7.38
1-Week 6.50 7.00 7.25 7.75 7.13
2-Week 7.25 7.75 7.50 7.90 7.60
1-Month 7.60 7.80 7.90 8.10 7.85
2-Months 7.75 8.00 8.05 8.15 7.99
3-Months 7.90 8.10 8.10 8.25 8.09
4-Months 8.00 8.20 8.15 8.30 8.16
5-Months 8.10 8.20 8.20 8.30 8.20
6-Months 8.20 8.20 8.35 8.40 8.29
9-Months 8.40 8.50 8.60 8.65 8.54
1-Year 8.50 8.55 8.65 8.75 8.61
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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 8.00 9.00 8.00 9.50 8.63
1-Week 7.75 9.00 8.00 9.50 8.56
2-Week 8.00 9.00 8.25 9.25 8.63
1-Month 8.00 9.00 8.75 9.50 8.81
2-Months 8.10 8.50 8.50 9.25 8.59
3-Months 8.50 9.00 9.00 9.75 9.06
4-Months 8.50 9.00 9.25 9.50 9.06
5-Months 8.90 9.25 9.25 9.50 9.23
6-Months 9.00 9.25 9.25 9.50 9.25
9-Months 9.00 9.50 9.50 10.00 9.50
1-Year 9.25 10.00 9.75 10.25 9.81
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According to the currency dealers, the dollar resumed trading at Friday's closing levels of Rs 59.90 and Rs 60.00 on buying and selling sides, respectively. The dollar could not sustain due to lacking buying support and moved down to Rs 59.80 and Rs 59.90 on buying and selling counters, respectively, the dealers added.
Likewise, the local currency showed strength and improved its worth against the pound sterling. The British pound was purchased at Rs 102.50 and was sold at Rs 103.00 as compared to Rs 102.60 and Rs 103.10 of Friday, the dealers added.
The dollar opened at Rs 59.95 (buying) and Rs 60.05 (selling) against same last rate. It did not observe any further change by the end of second session and closed at Rs 59.95 (buying) and Rs 60.05 (selling).
The pound sterling opened at Rs 102.60 (buying) and Rs 102.80 (selling) against same last rate. It did not show any change in the evening session and closed at Rs 102.60 (buying) and Rs 102.80 (selling).