Rates moved both ways in the currency market on Wednesday as the rupee fluctuated slightly due to easy dollar supply, dealers said. The rupee shed one paisa against dollar for buying and selling at Rs 61.25 and Rs 61.27. Though there was high demand for dollars by the importers, they said.
During the third session, dollar climbed against yen, recouping losses from the previous day when the Federal Reserve's interest rate cut disappointed investors hoping for more aggressive action to help the economy and credit markets.
The Fed trimmed both overnight rates by a quarter-point to 4.25 percent and its discount rate for direct lending to banks, contrary to some expectations for a bigger discount rate slash to help strained money markets at year-end.
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Open Buying Rs 61.20
Open Selling Rs 61.35
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Buying Rs 61.25
Selling Rs 61.27
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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 8.50 9.40 8.75 9.50 9.04
1-Week 9.25 9.40 9.40 9.60 9.41
2-Weeks 9.35 9.50 9.45 9.60 9.48
1-Month 9.35 9.45 9.45 9.55 9.45
2-Months 9.25 9.35 9.35 9.45 9.35
3-Months 9.25 9.40 9.30 9.45 9.35
4-Months 9.25 9.40 9.35 9.50 9.38
5-Months 9.30 9.45 9.35 9.50 9.40
6-Months 9.30 9.50 9.40 9.55 9.44
9-Months 9.35 9.45 9.40 9.55 9.44
1-Year 9.35 9.50 9.40 9.55 9.45
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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 8.75 9.75 9.00 9.90 9.35
1-Week 9.40 9.60 9.50 9.75 9.56
2-Weeks 9.50 9.75 9.60 9.85 9.68
1-Month 9.50 9.70 9.60 9.75 9.64
2-Months 9.50 9.70 9.60 9.80 9.65
3-Months 9.50 9.75 9.60 9.80 9.66
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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There was hardly any change in dollar's demand and supply condition and it was bought and sold at Tuesday's closing level of Rs 61.15 and Rs 61.25 on buying and selling sides. But it witnessed a tiny change in its value in the day's trading but finally closed at the opening level.
The rupee recovered its earlier loss and increased against the British pound whose buying rate declined from the overnight closing of Rs 124.80 to Rs 124.50 while its selling rate moved down from Rs 125.10 to Rs 124.80.
The dollar opened at Rs 61.25 (buying) and Rs 61.35 (selling) against the last rate. It did not observe any change in the evening session and closed at Rs 61.25 (buying) and Rs 61.35 (selling).
Pound Sterling opened at Rs 124.50 (buying) and Rs 124.60 (selling) against the overnight value. It did not observe any change in the second session and closed at Rs 124.50 (buying) and Rs 124.60 (selling).