THE RUPEE: dollar slides

12 Apr, 2008

The rupee resisted more erosion in its value against dollar in interbank market on Friday as it did not move any side for buying at 63.18 while it gained two paisa for selling at 63.20, dealers said.
Higher demand for dollar by importers kept the rupee under pressure slightly and it is likely that the rupee may not be able to retain its present levels in days to come, they said. In final Asian trade, the dollar dipped against euro as expectations of efforts by world finance chiefs to take up the sagging greenback, faded ahead of a key meeting in Washington, dealers said.
The euro rose to 1.5763 dollars in Tokyo morning trade from 1.5742 in New York late Thursday, when the currency had earlier hit a record high 1.5915 as the European Central Bank left interest rates unchanged. Traders said euro had eased off its peak after remarks by ECB president Jean Claude-Trichet, who said uncertainty over eurozone economic growth had increased.


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Open Buying Rs 63.80
Open Selling Rs 63.90
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Buying Rs 63.18
Selling Rs 63.20
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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 10.40 10.45 10.40 10.45 10.43
1-Week 9.75 10.00 9.90 10.25 9.98
2-Weeks 9.50 9.75 9.70 10.00 9.74
1-Month 9.50 9.70 9.55 9.75 9.63
2-Months 9.50 9.65 9.60 9.75 9.63
3-Months 9.50 9.65 9.60 9.75 9.63
4-Months 9.60 9.80 9.70 9.90 9.75
5-Months 9.65 9.90 9.75 10.00 9.83
6-Months 9.70 9.90 9.80 10.00 9.85
9-Months 9.75 10.00 9.90 10.10 9.94
1-Year 10.00 10.15 10.10 10.25 10.13
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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 10.50 11.40 10.60 11.50 11.00
1-Week 9.85 10.25 10.10 10.50 10.18
2-Weeks 9.75 10.25 10.00 10.50 10.13
1-Month 9.75 10.00 9.90 10.25 9.98
2-Months 9.75 10.00 10.00 10.25 10.00
3-Months 9.85 10.25 10.00 10.40 10.13
4-Months 9.85 10.25 10.00 10.40 10.13
5-Months 10.00 10.40 10.25 10.50 10.29
6-Months 10.00 10.40 10.25 10.50 10.29
9-Months 10.25 10.50 10.50 10.75 10.50
1-Year 10.25 10.75 10.50 11.00 10.63
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The rupee-pound parity also remained unchanged at Thursday level. The pound trading started at Rs 125.40 and Rs 126.00 on buying and selling sides and witnessed fractional change in its value though it closed at the same level.
The dollar opened at Rs 63.80 (buying) and Rs 63.90 (selling) against same last rate. It did not observe any change in the evening session and closed at Rs 63.80 (buying) and Rs 63.90 (selling). Pound sterling opened at Rs 125.80 (buying) and Rs 125.90 (selling) against same overnight value. It did not observe further change in the second session and closed at Rs 125.80 (buying) and Rs 125.90 (selling).

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