Stable trend was seen in the interbank market on Thursday as the rupee shrugged off its overnight weakness in terms of the dollar, picking up two paisa for buying and selling at 59.91 and 59.93, currency experts said.
Higher inflows and slight fall in dollar buying enable the rupee to regain its lost ground, they said and adding that the rising payments bills may push the dollar demand up again.
In the international markets, the dollar posted fresh gains versus the major currencies after upbeat US factory reading, dealers said.
The rupee, however, lost five paisa versus the euro for buying and selling at Rs 71.30 and Rs 71.40, they said.
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Kerb Buying Rs 60.00
Kerb Selling Rs 60.05
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Buying Rs 59.91
Selling Rs 59.93
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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 3.50 7.75 4.00 8.00 5.81
1-Week 7.60 8.00 7.75 8.25 7.90
2-Week 7.90 8.15 7.95 8.25 8.06
1-Month 7.90 8.20 8.10 8.35 8.14
2-Months 8.10 8.30 8.20 8.40 8.25
3-Months 8.20 8.45 8.30 8.55 8.38
4-Months 8.25 8.50 8.40 8.60 8.44
5-Months 8.35 8.60 8.45 8.70 8.53
6-Months 8.40 8.55 8.50 8.75 8.55
9-Months 8.40 8.70 8.60 8.75 8.61
1-Year 8.50 8.75 8.65 8.90 8.70
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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 5.00 8.75 5.50 9.00 7.06
1-Week 8.00 8.75 8.50 9.00 8.56
2-Week 8.30 8.60 8.65 9.00 8.64
1-Month 8.40 8.90 8.75 9.25 8.83
2-Months 8.75 9.25 9.00 9.50 9.13
3-Months 8.75 9.50 9.00 9.75 9.25
4-Months 8.75 9.60 9.25 9.80 9.35
5-Months 8.90 9.75 9.30 9.90 9.46
6-Months 9.25 9.90 9.50 10.25 9.73
9-Months 9.40 10.00 9.75 10.25 9.85
1-Year 9.50 10.00 9.75 10.25 9.88
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According to the currency dealers, there was no change in the dollar's demand and supply condition which helped the local currency maintain its overnight position. The dollar resumed trading at overnight closing rates of Rs 60.00 and Rs 60.10 as its buying and selling rates, respectively. There was no change in the dollar's worth and opening rates continued to prevail throughout the day, the dealers added.
On the contrary, the local currency remained strong and recovered its earlier loss in relation to the British pound. The pound sterling was purchased at Rs 104.30 and was sold at Rs 104.70 as compared to Rs 104.90 and Rs 105.20 of Wednesday, the dealers added.
The greenback opened at Rs 60.00 (buying) and Rs 60.10 (selling) against the last rate of Rs 59.90 (buying) and Rs 60.00 (selling). It did not observe any further change in the evening session and closed at Rs 60.00 (buying) and Rs 60.10 (selling).
The pound sterling opened at Rs 104.80 (buying) and Rs 105 (selling) against the overnight value of Rs 104.40 (buying) and Rs 104.90 (selling). It did not observe any further change in the second spell and closed at Rs 104.80 (buying) and Rs 105 (selling).