Mildness prevailed in the interbank market on Wednesday as the rupee moved a little downward versus the dollar for buying and selling at 60.06 and 60.07 in process of trading, dealers said.
Continued demand for dollars hurt the rupee slightly and it seem that the rupee may show some weakness in the coming days, they said.
According to the Reuters, the dollar slipped on Tuesday, remaining close to one-year lows against the euro as traders overlooked dollar-friendly comments from the Fed chief and focused on data showing continuing expansion in the 12-nation euro-zone bloc.
The dollar got a boost late on Monday after CNBC television reported Fed Chairman Ben Bernanke told one of its reporters over the weekend that the bank was still aggressive on inflation and was concerned markets would see it as dovish.
The rupee followed suit in terms of the euro after losing 55 paisa for buying and selling at Rs 75.65 and Rs 75.75 as the dollar slipped against the world currencies, dealers said.
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Buying Rs 60.20
Selling Rs 60.25
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Buying Rs 60.06
Selling Rs 60.07
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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 8.85 8.95 8.88
2-Week 8.70 8.80 8.85 8.90 8.81
1-Month 8.75 8.85 8.85 8.90 8.84
2-Months 8.65 8.75 8.70 8.80 8.73
3-Months 8.70 8.80 8.80 8.85 8.79
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 9.40 9.25 9.60 9.31
2-Week 9.00 9.30 9.20 9.50 9.25
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 9.25 9.60 9.50 9.75 9.53
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 witnessed increase in its demand which pushed down the value of local currency.
The dollar's trading commenced at overnight closing rates of Rs 60.10 and Rs 60.20 as its buying and selling rates, respectively. At the end of trading the dollar moved up and closed higher at Rs 60.15 and Rs 60.25 on buying and selling counters, respectively, the dealers added.
Similarly, the local currency remained under pressure and depreciated its worth against the pound sterling. The British pound was purchased at Rs 109.80 and was sold at Rs 110.20 as compared to Rs 109.30 and Rs 109.70 of Tuesday, the dealers added.
The dollar opened at Rs 60.15 (buying) and Rs 60.25 (selling) against same last rate. It did not observe any further change in the evening session and closed at Rs 60.15 (buying) and Rs 60.25 (selling).
Pound sterling opened at Rs 109.70 (buying) and Rs 109.90 (selling) against same overnight value. It did not observe any change in the last trading hours and closed at Rs 109.70 (buying) and Rs 109.90 (selling).