THE RUPEE: upward trend persists on currency market

15 Jun, 2008

Rising trend persisted on the interbank market on Saturday as the rupee maintained its recovery versus dollar, gaining 10 paisa for buying at 66.65 and it also rose by five piasa for selling at 66.75, currency experts said. Hopes for better inflows in the coming days, helped the rupee to hold its overnight levels, they said.
In the New York amid final session, dollar jumped against euro and notched up its best week against a basket of currencies since 2005 as mounting inflation fears had investors bracing for Federal Reserve interest rate hikes this year.
The euro also softened after Irish voters rejected a treaty promoting closer European Union unity, putting wide-ranging institutional reform plans at risk and sending euro to a one-month low at $1.5304. It clawed back to $1.5360 in late trade, still down 0.6 percent on the day.


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Open Buying Rs 67.65
Open Selling Rs 67.90
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Buying Rs 66.65
Selling Rs 66.75
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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 11.50 11.90 11.75 11.90 11.76
1-Week 10.75 11.25 11.00 11.50 11.13
2-Week 10.75 11.15 11.00 11.25 11.04
1-Month 10.75 11.20 11.10 11.30 11.09
2-Months 10.90 11.25 11.20 11.40 11.19
3-Months 10.90 11.25 11.20 11.40 11.19
4-Months 11.00 11.30 11.25 11.40 11.24
5-Months 11.10 11.40 11.30 11.50 11.33
6-Months 11.25 11.50 11.40 11.60 11.44
9-Months 11.25 11.50 11.50 11.65 11.48
1-Year 11.25 11.50 11.50 11.70 11.49
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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 12.00 17.00 13.00 18.00 15.00
1-Week 11.50 14.00 12.00 15.00 13.13
2-Week 11.75 14.00 12.00 14.50 13.06
1-Month 12.00 14.50 13.00 15.00 13.63
2-Months 12.00 14.00 13.00 14.50 13.38
3-Months 13.00 14.50 14.00 15.00 14.13
4-Months 13.00 14.50 14.00 15.00 14.13
5-Months 13.75 14.50 14.25 15.00 14.38
6-Months 14.00 14.50 14.50 15.00 14.50
9-Months 14.00 14.50 14.50 15.00 14.50
1-Year 14.25 14.75 14.75 15.25 14.75
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The dollar improved its value and finished higher at Rs 67.90 and Rs 68.20 on the buying and selling sides against Friday closing of Rs 67.80 and Rs 68.20.
The rupee showed stability and remained unchanged against the British pound traded at the overnight closing level of Rs 132.00 and Rs 132.75 on the buying and selling counters.
The dollar resumed trading at Rs 68 (buying) and Rs 68.30 (selling) against same last rate. It did not observe further change in the second session and closed at Rs 68 (buying) and Rs 68.30 (selling).
Pound sterling opened at Rs 132.80 (buying) and Rs 133.20 (selling) against same previous rate. It did not observe further change in the evening session and closed at Rs 132.80 (buying) and Rs 133.20 (selling).

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