Firmness prevailed in the currency market on Monday as the rupee managed to resist sharp decline versus the rupee and the euro, dealers said.
The rupee shed one paisa against the dollar for buying and selling at 60.19 and 60.20. The local currency fell slightly as demand for dollar was low as compared to the other days of the week due to international market closure on Sunday.
In the world markets, the dollar recouped some losses after the tame US economic data, which subdued the expectations of higher US interest, they said.
The rupee, however, gave up losses modestly, picking up 40 paisa versus the euro for buying and selling at Rs 72.75 and Rs 72.85 in process of trading, moneychangers said.
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Buying Rs 60.30
Selling Rs 60.40
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Buying Rs 60.19
Selling Rs 60.20
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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 8.50 8.90 8.60 8.90 8.73
1-Week 8.20 8.35 8.40 8.60 8.39
2-Week 8.15 8.35 8.30 8.60 8.35
1-Month 8.15 8.40 8.30 8.45 8.33
2-Months 8.20 8.35 8.30 8.50 8.34
3-Months 8.20 8.40 8.30 8.55 8.36
4-Months 8.25 8.40 8.40 8.60 8.41
5-Months 8.30 8.50 8.45 8.60 8.46
6-Months 8.40 8.60 8.50 8.75 8.56
9-Months 8.40 8.70 8.60 8.75 8.61
1-Year 8.60 8.80 8.75 8.90 8.76
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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 9.25 9.25 9.50 9.25
1-Week 8.50 9.25 8.75 9.50 9.00
2-Week 8.50 9.25 8.75 9.50 9.00
1-Month 8.60 9.25 8.75 9.50 9.03
2-Months 8.60 9.40 9.00 9.60 9.15
3-Months 8.75 9.50 9.00 9.60 9.21
4-Months 8.75 9.60 9.15 9.75 9.31
5-Months 8.90 9.70 9.25 9.80 9.41
6-Months 9.00 9.70 9.25 9.90 9.46
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, the dollar's selling continued on the first trading day of the week, which helped the local currency, improves its value against the dollar. The dollar's trading commenced at Rs 60.25 and Rs 60.35 as its buying and selling rates, respectively. During the day's trading, it kept moving down and finally closed at Rs 60.20 and Rs 60.30 on buying and selling counters, respectively, as against Rs 60.30 and Rs 60.40 of Saturday, the dealers said.
Similarly, the rupee gained strength and improved its value against the pound sterling. The British pound was purchased at Rs 105.10 and was sold at Rs 105. 40 as compared to Rs 105.20 and Rs 105.50 of Saturday, the dealers said.
The dollar opened at Rs 60.20 (buying) and Rs 60.30 (selling) against same last Saturday's rate. It did not observe any further change in the last trading hours and closed at Rs 60.20 (buying) and Rs 60.30 (selling).
Pound sterling opened at Rs 104.90 (buying) and Rs 105.10 (selling) against same last week's rate. It did not observe any further change by the end of second session and closed at Rs 104.90 (buying) and Rs 105.10 (selling).