The dollar demand was up slightly versus the rupee in the interbank market on Monday due to tight supplies, losing two paisa for buying and selling at 60.29 and 60.31, respectively. The dollar supply was tight due to international closure, the rupee would recover its losses after the supply eases, but it is feared that the dollar may move up on strong demand by the corporate sector, dealers said.
In the world markets dollar was down versus a basket of currencies on anticipation that the Federal Reserve may pause the US interest rate, they said.
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Buying Rs 60.58
Selling Rs 60.63
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Buying Rs 60.29
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 8.50 8.75 8.75 8.90 8.73
1-Week 8.00 8.40 8.30 8.60 8.33
2-Weeks 8.25 8.50 8.40 8.65 8.45
1-Month 8.40 8.60 8.50 8.70 8.55
2-Months 8.40 8.65 8.50 8.75 8.58
3-Months 8.65 8.70 8.70 8.85 8.73
4-Months 8.50 8.55 8.60 8.75 8.60
5-Months 8.55 8.60 8.65 8.80 8.65
6-Months 8.70 8.80 8.80 8.90 8.80
9-Months 8.80 9.00 9.00 9.20 9.00
1-Year 9.00 9.15 9.25 9.30 9.18
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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 9.25 9.75 9.50 10.25 9.69
1-Week 8.50 8.75 8.75 9.00 8.75
2-Weeks 8.65 8.75 9.00 9.40 8.95
1-Month 9.55 9.75 10.00 10.25 9.89
2-Months 9.60 9.80 10.10 10.40 9.98
3-Months 9.65 9.85 10.20 10.50 10.05
4-Months 9.70 9.90 10.25 10.70 10.14
5-Months 9.75 10.00 10.30 10.75 10.20
6-Months 9.75 10.25 10.35 11.00 10.34
9-Months 10.00 10.30 10.50 11.00 10.45
1-Year 10.20 10.50 11.00 11.25 10.74
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According to the currency dealers, the dollar resumed trading at Saturday's closing rates of Rs 60.70 and Rs 60.80 on buying and selling counters, respectively. As a result of increase in dollar's supply, the dollar moved down and closed at Rs 60.65 and Rs 60.75 on buying and selling sides, respectively, the dealers added.
However, the local currency remained under pressure and further lost its worth against the pound sterling. The pound's buying rate marginally improved from previous closing rate of Rs 114.20 to Rs 114.25, while selling rate remained unchanged at Rs 114.60, the dealers added.
The dollar resumed trading at Rs 60.55 (buying) and Rs 60.65 (selling) against last week's rate of Rs 60.90 (buying) and Rs 61 (selling). It did not observe any further change in the evening session and closed at Rs 60.55 (buying) and Rs 60.65 (selling).
Pound sterling opened at opened at Rs 114.50 (buying) and Rs 115.70 (selling) against same last rate. It did not witness any change in the second session and closed at Rs 114.50 (buying) and Rs 115.70 (selling).