Divergent trend was seen in the currency market on Tuesday in process of trading, dealers said. The rupee gained four paisa against the dollar at 60.83 and 60.85, for buying and selling in the interbank market, dealers said.
The rupee has managed to recover some gains on the back of slight improvement in the dollars' supply position, they said. In the international markets, the yen inched towards a record low against the euro, pressured by expectations that the Bank of Japan will raise interest rates only slowly.
The yen had got a brief lift after BoJ Deputy Governor Toshiro Muto told Jiji news agency that the timing of when the central bank next raises interest rates was completely open, including at its policy board meeting in December.
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Buying Rs 60.89
Selling Rs 60.95
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Buying Rs 60.83
Selling Rs 60.85
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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 9.00 9.40 9.10 9.40 9.23
1-Week 8.70 9.00 8.85 9.10 8.91
2-Weeks 8.60 8.90 8.75 9.10 8.84
1-Month 8.60 8.85 8.80 9.00 8.81
2-Months 8.65 8.90 8.75 9.00 8.83
3-Months 8.65 8.90 8.75 9.15 8.86
4-Months 8.70 8.90 8.80 9.15 8.89
5-Months 8.75 8.90 8.85 9.15 8.91
6-Months 8.75 9.00 8.80 9.20 8.94
9-Months 8.85 9.10 9.00 9.25 9.05
1-Year 8.90 9.10 9.10 9.35 9.11
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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 9.75 10.00 10.00 10.25 10.00
1-Week 9.50 10.00 10.00 10.25 9.94
2-Weeks 9.50 10.25 10.00 10.50 10.06
1-Month 9.75 10.50 10.00 10.75 10.25
2-Months 9.75 10.50 10.25 10.75 10.31
3-Months 10.00 10.50 10.25 10.75 10.38
4-Months 10.00 10.50 10.25 11.00 10.44
5-Months 10.25 10.75 10.50 11.00 10.63
6-Months 10.25 11.00 10.50 11.25 10.75
9-Months 10.25 11.00 10.50 11.25 10.75
1-Year 10.50 11.25 11.00 11.50 11.06
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On the contrary, the rupee remained under pressure and further depreciated against pound sterling. The pound's buying rate improved from Monday's closing rate of Rs 115.10 to Rs 115.35 while selling rate increased from Rs 115.35 to Rs 115.65, dealers said.
The dollar opened at Rs 60.70 (buying) and Rs 60.80 (selling) against same last week's rate. It did not observe any further change in the evening session and closed at Rs 60.70 (buying) and Rs 60.80 (selling).
Pound sterling opened at Rs 115 (buying) and Rs 115.20 (selling) against same last week's rate. The British currency did not observe further change by the end of evening spell and closed at Rs 115 (buying) and Rs 115.20 (selling).