Declining trend was seen in the interbank market on Wednesday as the rupee dropped by four paisa versus the dollar for buying and selling at 60.30 and 60.31, respectively. Rising demand for dollars pushed the rupee down and it is expected the rupee might face further slide in the coming days, analysts said.
The dollar was lower versus the euro and yen in the global markets, dealers said.
Versus the euro, the rupee lost 15 paisa for buying and selling at Rs 77.00 and Rs 77.10 as the single European currency looked ahead on the back of dollar's weakness in the international markets, they said.
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Buying Rs 60.75
Selling Rs 60.80
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Buying Rs 60.30
Selling Rs 60.31
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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 5.00 9.00 5.50 9.25 7.19
1-Week 8.40 8.60 8.50 8.70 8.55
2-Weeks 8.25 8.50 8.40 8.60 8.44
1-Month 8.50 8.80 8.70 9.00 8.75
2-Months 8.60 8.80 8.70 9.00 8.78
3-Months 8.65 8.85 8.80 9.10 8.85
4-Months 8.70 8.80 8.90 9.10 8.88
5-Months 8.80 8.90 9.00 9.10 8.95
6-Months 8.90 9.00 9.10 9.20 9.05
9-Months 9.00 9.15 9.20 9.30 9.16
1-Year 9.05 9.15 9.25 9.30 9.19
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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 5.75 9.75 6.25 10.00 7.94
1-Week 8.90 9.10 9.00 9.20 9.05
2-Weeks 9.00 9.25 9.50 9.75 9.38
1-Month 9.20 9.50 9.75 10.00 9.61
2-Months 9.35 9.60 10.00 10.25 9.80
3-Months 9.40 9.60 10.00 10.50 9.88
4-Months 9.50 9.65 10.25 10.75 10.04
5-Months 9.60 9.90 10.25 10.75 10.13
6-Months 9.65 9.95 10.25 11.00 10.21
9-Months 9.75 9.90 10.50 11.00 10.29
1-Year 10.00 10.50 11.00 11.25 10.69
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According to the currency dealers, the dollar's trading commenced at overnight closing level of Rs 60.70 and Rs 60.80 as its buying and selling rates, respectively. As a result of lacking demand, the dollar could not sustain and moved down to Rs 60.65 and Rs 60.75 at the end of trading, the dealers said.
On the contrary, the rupee could not maintain upward slide and depreciated its value against the pound sterling. The pound was purchased at Rs 112.55 and was sold at Rs 112.75 as compared to Tuesday's closing of Rs 112.40 and Rs 112.70, respectively, the dealers added.
The dollar opened at Rs 60.90 (buying) and Rs 61 (selling) against the last rate. It did not witness any further change by the end of evening session and closed at Rs 60.90 (buying) and Rs 61 (selling).
Pound sterling opened at Rs 112.80 (buying) and Rs 113 (selling) against the previous rate. It did not observe any change in the second session and closed at Rs 112.80 (buying) and Rs 113 (selling).