Further improvement was seen on the interbank market on Friday as the rupee rose by 35 paisa in relation to the dollar for buying at 66.90 and it also gained 50 paisa for selling at 67.00, dealers said.
According to currency analysts, the rupee which has lost 12 percent on May 20,2008 after touching the new low at 69.60 and 69.90 for buying and selling, has now started recovery and regained nearly four percent ahead of budget, 2008-09, they added. It is very difficult to predict about the future direction of the currency business following the political and economic instability in the country, they said.
Under the circumstance, we can't predict about the currency movement for the long-term, they said. Because our business or trade were in grip of severe uncertainties, which may help outflows instead of inflows, they said. In the fifth session in the Asian market, the dollar steadied, hovering near a three-month high against the yen after an upward revision to US economic growth figures underscored expectations for the Federal Reserve to raise interest rates this year.
A jump in US bond yields and a drop in oil prices on Thursday also helped trigger short-covering in the dollar, which has rebounded broadly this week as oil prices fell back and data helped ease concerns about the US economy's outlook.

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Open Buying             Rs 68.00
Open Selling            Rs 68.10
================================

==============================
Buying                Rs 66.90
Selling               Rs 67.00
==============================
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Repo Rates (Yield p a)
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Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight     1.00      7.00      1.25         7.50          4.19
1-Week        8.75     10.00      9.25        10.50          9.63
2-Week        9.50     10.25     10.00        10.75         10.13
1-Month      10.00     10.75     10.50        11.00         10.56
2-Months     10.75     11.25     11.00        11.50         11.13
3-Months     10.75     11.40     11.00        11.60         11.19
4-Months     10.90     11.50     11.25        11.65         11.33
5-Months     11.00     11.50     11.40        11.70         11.40
6-Months     11.25     11.50     11.50        11.75         11.50
9-Months     11.25     11.50     11.50        11.75         11.50
1-Year       11.25     11.50     11.60        11.80         11.54
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Call Rates (Yield p a)
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Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight     2.00      9.00      3.00        10.00          6.00
Week          9.50     11.00     10.00        12.00         10.63
Week         10.50     13.00     11.50        13.50         12.13
Month        12.00     13.00     12.50        14.00         12.88
Months       12.50     14.50     13.50        15.00         13.88
Months       13.00     14.50     14.50        15.00         14.25
Months       13.50     14.75     14.00        15.50         14.44
Months       13.75     14.50     14.25        15.00         14.38
Months       14.00     14.50     14.50        15.00         14.50
Months       14.00     14.50     14.50        15.00         14.50
Year         14.25     14.75     14.75        15.25         14.75
=================================================================