The rupee managed to recover two paisa against the dollar in the interbank market for buying at Rs 60.61 and it also picked up three paisa for selling at Rs 60.62, dealers said on Saturday.
Supply was enough to meet demand of the market and it is expected that the rupee might show rising trend due to significant rise in the supply of the US currency, they said. In the Yew York market, the dollar held just above a 15-year low against a basket of currencies on Friday as investors awaited data on US retail sales for clues on whether the housing market troubles are hurting the economy further.
The dollar has slid to a record low versus the euro and 30-year trough against the Canadian dollar on widespread expectations for the Federal Reserve to start cutting interest rates next week to limit the economy's slowdown.
================================
Kerb Buying Rs 60.70
Kerb Selling Rs 60.75
================================
==============================
Buying Rs 60.61
Selling Rs 60.62
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 8.75 9.90 9.00 9.90 9.39
1-Week 9.10 9.25 9.20 9.30 9.21
2-Weeks 9.05 9.25 9.15 9.30 9.19
1-Month 9.00 9.20 9.10 9.25 9.14
2-Months 9.05 9.25 9.15 9.30 9.19
3-Months 9.10 9.30 9.20 9.35 9.24
4-Months 9.15 9.30 9.20 9.35 9.25
5-Months 9.15 9.35 9.25 9.40 9.29
6-Months 9.20 9.40 9.30 9.45 9.34
9-Months 9.25 9.40 9.35 9.50 9.38
1-Year 9.25 9.45 9.35 9.50 9.39
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 9.00 9.90 9.10 10.00 9.50
1-Week 9.20 9.30 9.30 9.40 9.30
2-Weeks 9.15 9.30 9.25 9.35 9.26
1-Month 9.25 9.40 9.40 9.60 9.41
2-Months 9.20 9.60 9.35 9.70 9.48
3-Months 9.25 9.60 9.35 9.75 9.49
4-Months 9.30 9.70 9.50 9.80 9.58
5-Months 9.40 9.90 9.60 10.00 9.73
6-Months 9.60 10.00 9.75 10.10 9.86
9-Months 9.75 10.10 10.00 10.25 10.03
1-Year 9.90 10.25 10.10 10.40 10.16
=================================================================
The dollar began trading at Rs 60.75 and Rs 60.85 as its buying and selling rates but failed to sustain because of lacking buying support. At the end of trading, the dollar closed at Rs 60.70 and Rs 60.80 against Rs 60.80 and Rs 60.90 on buying and selling counters.
The rupee remained firm, going better against the pound sterling bought and sold at Rs 121.60 and Rs 122.00 against the previous closing of Rs 122.00 and Rs 122.50.
The dollar opened at Rs 60.90 (buying) and Rs 61 (selling) against the same previous rate. It did not witness any fluctuation by the end of second session and closed at Rs 60.90 (buying) and Rs 61 (selling).
Pound sterling opened at Rs 122.30 (buying) and Rs 122.50 (selling) against same previous rate. It did not witness any change in the evening spell and closed at Rs 122.30 (buying) and Rs 122.50 (selling).