The rupee picked up 10 paisa versus the greenback in the interbank market on Wednesday on rising supply of dollar, dealers said.
Commenting on the rupee's fresh gain in the interbank market, money experts said that despite the higher demand for dollars, the local currency managed to gain sharply due to good supply of the US currency, they said.
In the world markets, the dollar moved up slightly versus the leading currencies on rising concerns that the new top economic official in Washington might favour a weaker dollar but recovered some ground after the nomination of Henry Paulson as the new US treasury secretary.
The rupee lost 15 paisa in relation to the euro for buying and selling at Rs 77.75 and Rs 77.85 as the single currency showed its muscles on the back of dollar's weakness, dealers said.
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Buying Rs 60.70
Selling Rs 60.80
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Buying Rs 60.13
Selling Rs 60.15
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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 8.00 8.50 8.25 8.75 8.38
1-Week 8.25 8.60 8.40 8.70 8.49
2-Weeks 8.25 8.60 8.40 8.70 8.49
1-Month 8.25 8.50 8.40 8.60 8.44
2-Months 8.30 8.60 8.40 8.70 8.50
3-Months 8.30 8.60 8.35 8.65 8.48
4-Months 8.40 8.60 8.45 8.65 8.53
5-Months 8.40 8.55 8.50 8.65 8.53
6-Months 8.50 8.60 8.65 8.70 8.61
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 8.50 8.75 8.60 8.90 8.69
1-Week 8.50 8.90 8.60 9.00 8.75
2-Weeks 8.50 8.90 8.75 9.00 8.79
1-Month 8.80 9.10 9.10 9.25 9.06
2-Months 9.00 9.25 9.25 9.60 9.28
3-Months 9.25 9.45 9.50 9.75 9.49
4-Months 9.30 9.50 9.50 9.75 9.51
5-Months 9.35 9.60 9.50 9.80 9.56
6-Months 9.35 9.60 9.55 9.80 9.58
9-Months 9.50 10.00 9.80 10.25 9.89
1-Yea r 9 .60 10.00 9.80 10.25 9.91
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According to the currency dealers, there was no change in dollar's demand and supply situation, which helped the local currency maintain its overnight position. The dollar's trading commenced at overnight closing rates of Rs 60.70 and Rs 60.80 as its buying and selling rates, respectively. The dollar witnessed fractional change in its worth during the day's trading but finally closed at the opening levels, the dealers added.
On the contrary, the local recovered its earlier loss and improved its value against the pound sterling. The British pound was purchased at Rs 112.25 and was sold at Rs 112.50 as compared to Tuesday's closing rates of Rs 113.25 and Rs 113.50, the dealers added.
The dollar opened at Rs 60.65 (buying) and Rs 60.75 (selling) against same last rate. It did not observe any further change in the evening session and closed at Rs 60.65 (buying) and Rs 60.75 (selling).
Pound sterling opened at Rs 112.40 (buying) and Rs 112.90 (selling) against same last rate. It did not observe any change in the last trading hours closed at Rs 112.40 (buying) and Rs 112.90 (selling).