The rupee fell nearly by two percent against dollar on Thursday due to hovering uncertainties over the political settlement among the leading parties, money experts said. In the interbank the rupee lost sharply against dollar for buying and selling at 76.10 and 76.20, they said.
At a point, during the day, the rupee touched the low at around 76.30, they said adding that it was also rumoured that the rupee hit the new low at 77. It is noteworthy that the rupee fell cheaper in interbank than in the open market for second time within a short period.
They observed that the rupee fell sharply due to higher demand for dollars and at the same time, upward trend in imports caused the country's widening trade and fiscal deficits, falling reserves, and soaring inflation as well. As a whole it can be said that the general trend on the currency market was weak as the rupee's gain proved short-lived versus dollar.
It is need of the hours that the emerging problems faced by the nation must the solved forthwith, some analysts said. The rupee, which weakened to record lows for five consecutive sessions last week, hit a record low of 76.95 against dollar on August 15, 2008. Its last record-low closing level was struck on August 16 at around 76.60 and 76.65.
The Wall Street Journal said on Thursday former prime minister Nawaz Sharif, who leads the coalition's second biggest party, may pull out of the coalition if it does not decide by Friday to reinstate the judges. In the fourth Asian trading dollar edged down, slipping from an eight-month high against a basket of currencies as investors booked profits on the US currency's surge this month and oil prices pushed higher.
Persistent worries that a bailout of US mortgage finance giants Fannie Mae and Freddie Mac could pose further risks to an already battered financial system also made investors cautious on the dollar.

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Open Buying             Rs 75.05
Open Selling            Rs 75.40
================================

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Buying                Rs 76.10
Selling               Rs 76.20
==============================
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Repo Rates (Yield p a)
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Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight   12.75     12.90       12.90       12.95         12.88
1-Week      12.40     12.50       12.60       12.70         12.55
2-Week      12.25     12.50       12.50       12.60         12.46
1-Month     12.10     12.40       12.40       12.50         12.35
2-Months    11.90     12.20       12.00       12.30         12.10
3-Months    11.90     12.25       12.10       12.30         12.14
4-Months    12.00     12.25       12.10       12.30         12.16
5-Months    12.00     12.25       12.15       12.30         12.18
6-Months    12.00     12.25       12.20       12.35         12.20
9-Months    12.00     12.25       12.20       12.35         12.20
1-Year      12.10     12.25       12.20       12.40         12.24
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Call Rates (Yield p a)
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Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight   13.00     14.50       13.50       15.00         14.00
1-Week      12.75     14.00       13.25       14.50         13.63
2-Week      12.75     14.00       13.00       14.50         13.56
1-Month     12.50     14.00       13.25       14.25         13.50
2-Months    13.00     14.00       13.50       14.50         13.75
3-Months    13.00     14.50       13.50       15.00         14.00
4-Months    13.00     14.50       13.75       15.00         14.06
5-Months    13.00     14.75       14.00       15.25         14.25
6-Months    13.50     15.00       14.00       15.50         14.50
9-Months    13.75     15.00       14.50       15.50         14.69
1-Year      14.00     15.50       14.75       15.75         15.00
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