Bearish trend continued in the interbank market on Tuesday as the rupee dropped by 12 paisa against dollar, currency analysts said. As a result of the rising demand by the importers, dollar maintained its upward trend and it is expected that, if the supply position not eased, the rupee may face further devaluation, they said.
In the second session of the week, dollar steadied above record lows against euro and a basket of currencies after euro zone officials expressed concerns about the sharp rise of the single European currency. The euro's rise to a record high against dollar prompted verbal intervention by euro zone finance ministers as well as European Central Bank President Jean-Claude Trichet on Monday.
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Open Buying Rs 62.85
Open Selling Rs 62.95
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Buying Rs 62.82
Selling Rs 62.85
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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 10.40 9.00 10.40 9.58
1-Week 9.20 9.40 9.40 9.60 9.40
2-Weeks 9.30 9.50 9.45 9.60 9.46
1-Month 9.35 9.60 9.45 9.65 9.51
2-Months 9.45 9.50 9.50 9.60 9.51
3-Months 9.45 9.55 9.55 9.75 9.58
4-Months 9.50 9.65 9.65 9.75 9.64
5-Months 9.50 9.75 9.65 9.80 9.68
6-Months 9.55 9.75 9.70 9.90 9.73
9-Months 9.60 9.80 9.70 9.90 9.75
1-Year 9.65 9.80 9.75 9.90 9.78
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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 9.00 10.40 9.25 10.45 9.78
1-Week 9.40 9.75 9.60 10.00 9.69
2-Weeks 9.50 10.00 10.00 10.25 9.94
1-Month 9.75 10.25 10.00 10.40 10.10
2-Months 9.75 10.25 10.00 10.50 10.13
3-Months 9.75 10.30 10.00 10.50 10.14
4-Months 9.75 10.35 10.00 10.50 10.15
5-Months 9.90 10.40 10.20 10.50 10.25
6-Months 10.00 10.40 10.25 10.50 10.29
9-Months 10.00 10.50 10.25 10.60 10.34
1-Year 10.10 10.50 10.30 10.60 10.38
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The British pound was purchased and sold at Rs 123.90 and Rs 124.40 as compared to overnight closing rates of Rs 124.00 and Rs 124.50 respectively.
Pound sterling opened at Rs 124 (buying) and Rs 124.50 (selling) against last rate of Rs 123 (buying) and Rs 123.25 (selling). It did not observe further change in the second session and closed at Rs 124 (buying) and Rs 124.50 (selling).