Firm trend was seen in the interbank market on Wednesday as the rupee retained its overnight levels for buying and selling at 60.14 and 60.16, respectively. Though the fiscal year about to end and the import payments are near completion, the rupee did not show sharp fluctuation in terms of dollar, currency analysts said.
It is expected that the rupee may recover further versus the greenback in the coming weeks, they said. In the international markets the US price data helped the dollar to retain its present firmness but profit-taking may force it to give up its gains slightly, they said.
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Buying Rs 60.42
Selling Rs 60.47
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Buying Rs 60.14
Selling Rs 60.16
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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 7.75 8.25 8.00 8.50 8.13
1-Week 8.00 8.25 8.10 8.40 8.19
2-Weeks 8.10 8.35 8.40 8.55 8.35
1-Month 8.30 8.50 8.40 8.60 8.45
2-Months 8.30 8.55 8.40 8.60 8.46
3-Months 8.35 8.60 8.50 8.65 8.53
4-Months 8.35 8.65 8.50 8.70 8.55
5-Months 8.40 8.65 8.55 8.70 8.58
6-Months 8.50 8.70 8.65 8.75 8.65
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 8.00 8.40 8.25 8.50 8.29
1-Week 8.25 8.50 8.50 8.90 8.54
2-Weeks 8.40 8.75 8.75 9.00 8.73
1-Month 8.75 9.20 8.90 9.30 9.04
2-Months 8.90 9.40 9.00 9.50 9.20
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 maintained downward slide due to lacking buying support. The dollar's trading commenced at overnight closing rates of Rs 60.50 and Rs 60.55 as its buying and selling rates, respectively. At the end of trading, the dollar closed at Rs 60.45 and Rs 60.55 on buying and selling sides, respectively, the dealers added.
Likewise, the local currency appreciated its value against the pound sterling. The pound's buying rate declined from Tuesday's closing rate of Rs 111.25 to Rs 111.10 while selling rate moved down from Rs 111.50 to Rs 111.40, the dealers added.
The dollar opened at Rs 60.50 (buying) and Rs 60.60 (selling) against same previous rate. It did not observe any further change in the evening session and closed at Rs 60.50 (buying) and Rs 60.60 (selling).
Pound sterling opened at Rs 111.25 (buying) and Rs 111.50 (selling) against same previous rate. It did not observe any further change by the end of evening session and closed at Rs 111.25 (buying) and Rs 111.50 (selling).