Steadier trend was witnessed in the interbank market on Saturday as the rupee moved slightly in relation to the dollar for buying and selling at 59.97 and 59.98, money experts said.
Trading was range-bound due to balanced demand and supply position in the market, dealers said. In the world markets, the dollar rallied on Friday after a strong US jobs report reinforced the view the Federal Reserve will raise interest rates at least one more time.
The rupee followed suit and rose by 45 paisa versus the euro for buying and selling at Rs 72.35 and Rs 72.45, they said.
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Buying Rs 60.12
Selling Rs 60.18
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Buying Rs 59.97
Selling Rs 59.98
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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 8.65 8.90 8.74
1-Week 8.40 8.60 8.50 8.70 8.55
2-Week 8.35 8.50 8.50 8.65 8.50
1-Month 8.40 8.60 8.50 8.65 8.54
2-Months 8.35 8.50 8.45 8.65 8.49
3-Months 8.35 8.55 8.50 8.70 8.53
4-Months 8.35 8.60 8.50 8.70 8.54
5-Months 8.40 8.60 8.55 8.70 8.56
6-Months 8.50 8.65 8.65 8.75 8.64
9-Months 8.55 8.70 8.70 8.80 8.69
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 8.60 9.25 8.75 9.50 9.03
1-Week 8.75 9.25 9.00 9.40 9.10
2-Week 9.75 9.25 9.00 9.50 9.38
1-Month 8.90 9.25 9.10 9.50 9.19
2-Months 8.75 9.40 9.10 9.50 9.19
3-Months 8.90 9.40 9.10 9.60 9.25
4-Months 9.00 9.50 9.25 9.75 9.38
5-Months 9.10 9.60 9.35 9.80 9.46
6-Months 9.25 9.60 9.35 9.80 9.50
9-Months 9.50 10.00 9.80 10.25 9.89
1-Year 9.60 10.00 9.80 10.25 9.91
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According to the currency dealers, the dollar resumed trading at Rs 60.60.12 and Rs 60.22 as its buying and selling rates, respectively. Soon after commencement of trading, the dollar came under selling pressure which helped the rupee maintain upturn. The dollar finally closed at Rs 60.05 and Rs 60.15 on buying and selling sides, respectively, the dealers added. There was no uniform rate available in the markets as some dealers quoted buying and selling rates as Rs 60.05 and Rs 60.10.
Similarly, the rupee continued rising and appreciated its value against the pound sterling. The pound's buying rate declined from previous closing of Rs 104.50 to Rs 104.25 while its selling rate moved down from Rs 104.80 to Rs 104.50, the dealers pointed out.
The dollar resumed trading at Rs 60.20 (buying) and Rs 60.30 (selling) against same overnight value. It did not observe any change in the evening session and closed at Rs 60.20 (buying) and Rs 60.30 (selling).
Pound sterling opened at Rs 104.50 (buying) and Rs 105 (selling) against same last rate. It did not witness any further change in the evening session and closed at Rs 104.50 (buying) and Rs 105 (selling).