Bullish trend was seen in the open market on Tuesday as the rupee gained versus dollar and euro, dealers said. The rupee in relation to dollar picked up three paisa at Rs 60.62 for buying and it also rose by two paisa for selling at Rs 60.68, they said.
The rupee also depicted sharp rise against the euro, gaining 77 paisa for buying and selling at Rs 85.52 and Rs 85.62, they said. Commenting on the minor gap between the official and open market rates, currency analysts said that there was no big change in the open and official rates due to smooth supply of dollar. This factor, they said, also discouraged the dollarisation in the country.
The rupee comes under pressure versus dollar whenever importers rush for the US currency to meet the import payments. The widening gap between imports and exports helps in expanding the country's trade deficit, they said. In the Asian trading, during the second session yen gained more ground against euro and dollar as investors lost their appetite for risk amid growing concerns about the outlook for the global economy, dealers said.
They said euro took a breather against the greenback after falling sharply in overseas trade from recent record highs. The dollar eased to 114.30 yen in Tokyo morning trade from 114.52 in New York late Monday. The euro dropped to 162.18 yen from 162.42 while edging up to 1.4190 dollars after 1.4183.

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Open Buying             Rs 60.62
Open Selling            Rs 60.68
================================

==============================
Buying                Rs 60.63
Selling               Rs 60.64
==============================
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Repo Rates (Yield p a)
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Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight    9.90      9.95       9.90         9.95          9.93
1-Week       9.60      9.75       9.75         9.90          9.75
2-Weeks      9.45      9.60       9.60         9.70          9.59
1-Month      9.35      9.45       9.45         9.50          9.44
2-Months     9.30      9.45       9.35         9.50          9.40
3-Months     9.30      9.40       9.35         9.45          9.38
4-Months     9.30      9.40       9.35         9.45          9.38
5-Months     9.30      9.40       9.40         9.45          9.39
6-Months     9.30      9.40       9.35         9.50          9.39
9-Months     9.35      9.40       9.40         9.50          9.41
1-Year       9.35      9.50       9.40         9.60          9.46
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Call Rates (Yield p a)
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Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight     9.90     10.00     10.00         10.25        10.04
1-Week        9.70      9.90      9.90         10.00         9.88
2-Weeks       9.75      9.85      9.80          9.90         9.83
1-Month       9.45      9.75      9.60          9.80         9.65
2-Months      9.45      9.70      9.60          9.80         9.64
3-Months      9.45      9.75      9.50          9.80         9.63
4-Months      9.50      9.75      9.60          9.80         9.66
5-Months      9.50      9.90      9.65          9.90         9.74
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
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