The rupee resisted fall against dollar in interbank market on Friday despite rising demand for the US currency unit, dealers said. In the interbank market, the rupee reversed its slide versus dollar by gaining 10 paisa for buying and selling at 76.50 and 76.55, they said.
The dollar demand is persisting due to higher payments and it seems that the rupee may not be able to come out of the weakness in long term, they said. In the fifth Asian trading yen held steady near a two-year high against euro and stayed firm against other major currencies as investors awaited more news about Lehman Brothers ahead of a long weekend in Japan.
The dollar stayed near a one-year high against euro on fears the global economy, especially outside the United States, would slow down. The yen had slid sharply in late New York trade on Thursday on reports that Lehman Brothers was in talks about a possible sale, with Bank of America or Barclays named as potential suitors.
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Open Buying Rs 76.70
Open Selling Rs 77.00
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Buying Rs 76.50
Selling Rs 76.55
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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 11.50 13.00 12.00 17.00
1-Week 11.25 11.70 11.60 12.00 11.64
2-Week 11.25 12.20 12.00 12.30 11.94
1-Month 11.90 12.25 12.20 12.40 12.19
2-Months 12.15 12.40 12.30 12.50 12.34
3-Months 12.25 12.40 12.35 12.50 12.38
4-Months 12.25 12.45 12.40 12.55 12.41
5-Months 12.25 12.50 12.40 12.60 12.44
6-Months 12.30 12.50 12.45 12.60 12.46
9-Months 12.35 12.55 12.50 12.65 12.51
1-Year 12.40 12.60 12.50 12.70 12.55
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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 15.00 13.00 16.00 13.50 19.38
1-Week 12.00 14.50 12.50 15.00 13.50
2-Week 13.00 14.50 13.50 15.00 14.00
1-Month 13.50 14.50 14.00 15.00 14.25
2-Months 13.50 14.50 14.00 15.00 14.25
3-Months 13.50 15.00 14.00 15.50 14.50
4-Months 13.50 15.00 13.75 15.50 14.44
5-Months 13.50 15.25 14.00 15.75 14.63
6-Months 13.50 15.25 14.00 15.75 14.63
9-Months 13.75 15.50 14.50 16.00 14.94
1-Year 13.75 15.50 14.50 16.00 14.94
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On the contrary, the rupee failed to maintain its position and declined against the British pound. The pound's buying and selling rate increased to Rs 135.20 and Rs 136.00 as compared to overnight closing of Rs 134.00 and Rs 135.50, respectively.