Firmness prevailed in the interbank market on Thursday as the rupee held its overnight levels against dollar for buying and selling at Rs 60.74 and Rs 60.75, dealers said. Supply of dollars was strong which saved the rupee from moving any side and it is expected that the rupee may hold its present posture in the near future, money experts said.
In the world markets, euro fell towards recent six-week lows against dollar on Thursday after below-forecast German business sentiment data sparked some liquidation of over stretched long positions in the single currency. The IFO business climate index was steady at 108.6 in May, below a consensus forecast for a rise to 108.8. Current conditions came in at 112.5 compared with expectations for 113.5 while the expectations component rose to 104.8 versus a forecast of 104.5.
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KERB BUYING Rs 60.80
KERB SELLING Rs 60.90
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Buying Rs 60.74
Selling Rs 60.75
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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 9.40 9.45 9.40 9.45 9.43
1-Week 9.25 9.40 9.35 9.40 9.35
2-Weeks 9.05 9.20 9.10 9.25 9.15
1-Month 8.95 9.10 9.05 9.20 9.08
2-Months 8.85 9.00 8.90 9.05 8.95
3-Months 8.85 9.00 8.90 9.05 8.95
4-Months 8.85 9.00 8.95 9.10 8.98
5-Months 8.90 9.00 9.00 9.15 9.01
6-Months 8.90 9.05 9.00 9.15 9.03
9-Months 8.90 9.10 9.05 9.25 9.08
1-Year 8.90 9.15 9.10 9.25 9.10
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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 9.40 9.60 9.45 9.65 9.53
1-Week 9.40 9.60 9.50 9.65 9.54
2-Weeks 9.40 9.50 9.45 9.60 9.49
1-Month 9.30 9.60 9.50 9.70 9.53
2-Months 9.40 9.60 9.50 9.75 9.56
3-Months 9.40 9.60 9.50 9.75 9.56
4-Months 9.50 9.75 9.75 10.00 9.75
5-Months 9.75 10.00 10.00 10.25 10.00
6-Months 9.75 10.00 10.00 10.25 10.00
9-Months 10.00 10.25 10.50 10.75 10.38
1-Year 10.00 10.50 10.50 10.75 10.44
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According to currency dealers, the dollar resumed trading at Wednesday's closing rates of Rs 60.80 and Rs 60.90 on buying and selling sides, respectively. There was no change in dollar's value during the trading and at the end of trading it was closed at the same level, they said.
However, the rupee maintained downward trend and further declined against the pound sterling. The pound's buying rate improved from previous day's closing rate of Rs 119.95 to Rs 120.60 while its selling rate increased from Rs 120.30 to Rs 120.90, they added.
The dollar resumed trading at Rs 60.80 (buying) and Rs 60.90 (selling) against same overnight value. It did not observe any change in the second session and closed at Rs 60.80 (buying) and Rs 60.90 (selling).
Pound sterling opened at Rs 119.80 (buying) and Rs 119.90 (selling) against same previous rate. It did not witness any change in the second spell and closed at Rs 119.80 (buying) and Rs 119.90 (selling).