Sharp decline was seen in the rupee value against dollar in the interbank market on Thursday as the rupee slid six paisa in a single day for buying and selling at Rs 60.73 and Rs 60.75, dealers said. According to the market source the major demand was seen by the National Bank and other major banks to meet the importers' demand.
The banks bought above 80 million dollars. In the world markets, during the forth session, yen gained on the dollar and euro as investors shunned riskier assets amid concerns about slowing US economic growth and prospects of another US interest rate cut, dealers said.
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Open Buying Rs 60.63
Open Selling Rs 60.68
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Buying Rs 60.73
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 9.90 9.95 9.90 9.95 9.93
1-Week 9.60 9.70 9.75 9.85 9.73
2-Weeks 9.45 9.60 9.60 9.70 9.59
1-Month 9.40 9.45 9.50 9.55 9.48
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
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Overnight 9.90 10.00 10.00 10.25 10.04
1-Week 9.75 9.90 9.85 10.00 9.88
2-Weeks 9.75 9.85 9.80 9.90 9.83
1-Month 9.50 9.75 9.65 9.80 9.68
2-Months 9.50 9.75 9.60 9.80 9.66
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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The dollar rising trend pushed the local currency further down. The dollar bought and sold at Rs 60.60 and Rs 60.70 against the overnight closing of Rs 60.55 and Rs 60.65.
The rupee failed to get out of pressure and further moved down against the pound sterling beginning its trading at Rs 123.40 and Rs 123.80 on buying and selling counters in the morning and witnessed a rapid improvement. The pound closed at Rs 123.75 and Rs 124.10 against the previous closing of Rs 123.25 and Rs 123.50.
The dollar opened at Rs 60.60 (buying) and Rs 60.70 (selling) against same previous rate. Ever-favourite greenback failed to show further change in the evening session and closed at Rs 60.60 (buying) and Rs 60.70 (selling).
Pound Sterling opened at Rs 123 (buying) and Rs 123.20 (selling) against same previous rate. British currency did not observe any change in the evening session and closed at Rs 123 (buying) and Rs 123.20 (selling).