Bullish trend was seen in the interbank market on Thursday as the rupee shed three paisa versus the dollar for buying and selling at 60.11 and 60.13, dealers said. Increased demand for dollar forced the rupee to give up its gains in process of trading.
Some payments were to be made so banks bought nearly 20-30 million dollars to clear the import bills, money experts said. In the world markets, rate hike speculations kept the dollar firm versus other major currencies, they said.
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Buying Rs 60.52
Selling Rs 60.57
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Buying Rs 60.11
Selling Rs 60.13
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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 8.80 8.70 8.85 8.71
1-Week 8.30 8.35 8.40 8.50 8.39
2-Weeks 8.30 8.40 8.50 8.55 8.44
1-Month 8.30 8.50 8.40 8.60 8.45
2-Months 8.30 8.55 8.35 8.65 8.46
3-Months 8.30 8.50 8.40 8.65 8.46
4-Months 8.25 8.50 8.35 8.60 8.43
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 8.60 8.75 8.75 8.85 8.74
1-Year 8.70 8.80 8.80 8.85 8.79
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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 8.75 8.90 8.85 9.00 8.88
1-Week 8.55 8.70 8.65 8.85 8.69
2-Weeks 8.65 8.80 8.85 9.10 8.85
1-Month 8.75 9.00 8.90 9.25 8.98
2-Months 8.90 9.25 9.10 9.50 9.19
3-Months 9.00 9.40 9.25 9.60 9.31
4-Months 9.10 9.40 9.25 9.75 9.38
5-Months 9.25 9.50 9.40 9.75 9.48
6-Months 9.35 9.60 9.50 9.75 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 recorded marginal increase in its demand, which pushed down the value of local currency.
The dollar resumed trading at overnight closing rates of Rs 60.40 and Rs 60.50 as its buying and selling rates, respectively. At the end of trading, the dollar was closed at Rs 60.45 and Rs 60.55 on buying and selling sides, respectively, the dealers added.
However, the local currency continued rising trend and improved its value against the pound sterling. The pound's buying rate declined from previous closing rate of Rs 112.15 to Rs 111.50 while selling rate moved down from Rs 112.45 to Rs 111.80, the dealers added.
The dollar opened at Rs 60.40 (buying) and Rs 60.50 (selling) against same last rate. It did not observe any further change in the evening session and closed at Rs 60.40 (buying) and Rs 60.50 (selling).
Pound sterling opened at Rs 112.25 (buying) and Rs 112.80 (selling) against same previous rate. It did not witness fluctuation by the end of evening session and closed at Rs 112.25 (buying) and Rs 112.80 (selling).