An appreciation of four paisa was again witnessed in the rupee value against dollar for buying and selling at Rs 61.16 and Rs 61.18 in the interbank market on Friday as supply was strong to meet the demand, dealers said.
Rising supply of dollars boosted the rupee and it is likely that the local currency may continue its firmness in the near future, they said. At the weekend, dollar rose to a one-month high against yen in Asia, extending gains over overnight level after solid US data eased concerns that the US economy was slipping into recession while the Bank of Japan's Tankan survey worsened more than expected. Both retail sales and producer prices for November beat market expectations and strengthened the view that the US economy is more resilient than previously thought despite a lingering credit crunch.
The rupee depicted the same pattern versus euro, gaining 37 paisa for buying and selling at Rs 89.30 and Rs 89.40, they said. The single European currency tumbled with modest fall as the dollar struggled hard to come out of the prevailing weakness, they said.
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Open Buying Rs 61.10
Open Selling Rs 61.20
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Buying Rs 61.16
Selling Rs 61.18
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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 7.50 9.90 7.75 9.90 8.76
1-Week 9.40 9.50 9.50 9.60 9.50
2-Weeks 9.35 9.50 9.45 9.60 9.48
1-Month 9.30 9.45 9.40 9.50 9.41
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 7.75 9.90 8.00 10.00 8.91
1-Week 9.50 9.60 9.60 9.75 9.61
2-Weeks 9.40 9.60 9.50 9.75 9.56
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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The rupee improved against the pound sterling whose buying rate fell from the overnight closing of Rs 124.40 to Rs 123.30 and that of its selling moved down from Rs 124.70 to Rs 123.60.
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 same overnight value. It did not depict any change in the second session and closed at Rs 124.50 (buying) and Rs 124.60 (selling).