The rupee gave up it's overnight weakness on Thursday in the interbank market, picking up two paisa for buying at 60.03 and slid three paisa for selling at 60.05, dealers said.
The rupee recovered modest ground on easy supply of dollars and if the buying pressure emerges again, the rupee may show vulnerability in the coming days, they said. The dollar did not show major change versus the leading currencies in the international markets, reports said.
The local currency maintained its weakness, shedding more 25 paisa versus the euro for buying and selling at Rs 74.60 and Rs 74.70, they said.
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Buying Rs 60.23
Selling Rs 60.28
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Buying Rs 60.05
Selling Rs 60.06
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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 8.90 8.95 8.90 8.95 8.93
1-Week 8.80 8.90 8.90 8.95 8.89
2-Week 8.70 8.75 8.80 8.85 8.78
1-Month 8.65 8.75 8.75 8.80 8.74
2-Months 8.60 8.75 8.70 8.80 8.71
3-Months 8.60 8.70 8.70 8.75 8.69
4-Months 8.65 8.75 8.75 8.80 8.74
5-Months 8.65 8.75 8.75 8.80 8.74
6-Months 8.65 8.75 8.75 8.85 8.75
9-Months 8.70 8.80 8.80 8.90 8.80
1-Year 8.75 8.80 8.85 8.90 8.83
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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 9.35 9.50 9.28
1-Week 9.00 9.15 9.25 9.50 9.23
2-Week 9.00 9.25 9.10 9.50 9.21
1-Month 9.00 9.40 9.25 9.50 9.29
2-Months 8.90 9.25 9.10 9.50 9.19
3-Months 9.10 9.40 9.30 9.60 9.35
4-Months 9.15 9.50 9.40 9.75 9.45
5-Months 9.20 9.60 9.50 9.80 9.53
6-Months 9.25 9.60 9.55 9.80 9.55
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, due to lacking buying support, could not sustain and started moving down from the opening rates of Rs 60.30 and Rs 60.40 on buying and selling sides, respectively. At the end of trading, the dollar closed at Rs 60.25 and Rs 60.35 as its buying and selling rates, respectively. The dealers were of the view that the dollar could further depreciate its value till the end of this week.
However, the local currency failed to maintain upward trend and registered loss against the pound sterling. The pound's buying rate improved from Wednesday's closing rate of Rs 106.80 to Rs 107.00, while selling rate moved up from Rs 107.20 to Rs 107.30, the dealers added.
The dollar opened at Rs 60.30 (buying) and Rs 60.40 (selling) against same overnight value. It did not observe any fluctuation in the last trading hours and closed at Rs 60.30 (buying) and Rs 60.40 (selling).
Pound sterling opened at Rs 107 (buying) and Rs 107.20 (selling) against same last rate. It did not witness any change by the end of the day and closed at Rs 107 (buying) and Rs 107.20 (selling).