Bullish sentiment was witnessed on the interbank market on Saturday as the rupee rose by 30 paisa against the dollar for buying and selling at 68.60 and 68.80, dealers said. The feature of the day was difference between the official and open market rates, which was only five-paisa gap.
This factor will definitely help in restoring the confidence of small dollar investors and will also discourage "Hundi" and "Hawala" system and speculative buying of the US currency, analysts said. Market sources said that the demand for dollars persisted but in the limited way, in the meantime, it is likely that the rupee may fall slightly if importers increased buying for greenback to meet the payment requirements.
In the NY trade at the weekend, dollar fell as a plunge in US consumer confidence raised concerns about an economic contraction in the second quarter and trimmed the chances the Federal Reserve will raise interest rates this year.
The unexpectedly sharp drop in a consumer sentiment index to a 28-year low in May eclipsed a report showing a rebound in building permits and construction starts for new US homes, which briefly triggered some dollar buying. "Consumer sentiment data are closely tied to consumer spending levels," said Andrew Busch, global FX strategist at BOM Capital Markets in Chicago.

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Open Buying             Rs 68.65
Open Selling            Rs 68.85
================================

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Buying                Rs 68.60
Selling               Rs 68.80
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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      9.50      9.00         10.00         9.25
1-Week        9.15      9.50      9.25          9.60         9.38
2-Weeks       9.20      9.50      9.35          9.60         9.41
1-Month       9.35      9.60      9.50          9.80         9.56
2-Months      9.60      9.90      9.80         10.00         9.83
3-Months      9.75     10.00      9.90         10.10         9.94
4-Months      9.75     10.00      9.90         10.15         9.95
5-Months      9.85     10.10     10.00         10.20        10.04
6-Months      9.85     10.10     10.00         10.20        10.04
9-Months     10.00     10.25     10.15         10.30        10.18
1-Year       10.00     10.25     10.20         10.40        10.21
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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     11.50      9.25         12.00        10.44
1-Week       10.00     10.75     10.25         11.00        10.50
2-Weeks      10.25     10.50     10.40         10.75        10.48
1-Month       9.90     10.50     10.25         10.75        10.35
2-Months     10.25     10.50     10.50         10.75        10.50
3-Months     10.25     10.75     10.60         11.00        10.65
4-Months     10.50     11.00     10.75         11.25        10.88
5-Months     10.50     11.00     10.75         11.25        10.88
6-Months     10.60     11.25     10.80         11.50        11.04
9-Months     10.75     11.25     11.00         11.50        11.13
1-Year       10.75     11.50     11.00         11.75        11.25
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