THE RUPEE: dollar at record high on interbank market

18 Sep, 2008

The rupee touched the record low level against dollar in the interbank market on Wednesday, losing 35 paisa for buying at Rs 77.30 and it also lost 40 paisa for selling 77.40, dealers said. During the day, the rupee touched the record low at 77.55 due to import payments, weak economic fundamentals and concern over tensions between Pakistan and the United States, they said.
The tension was high as a result of the US military action against militant targets in Pakistani territory, they added. The outlook is still bleak due to the political developments this week and depleting reserves, they said. There were also talks in the market that the rupee had touched 78 level but it could not be confirmed, they added. In the third Asian trading dollar advanced against yen after the Federal Reserve rescued insurer American International Group, easing fears about a financial system crisis. The Fed said it would lend up to $85 billion to AIG, once the largest insurer in the world, in a two-year plan aimed at saving it from a 'disorderly failure' that could damage the global economy.


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Open Buying Rs 77.00
Open Selling Rs 77.30
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Buying Rs 77.30
Selling Rs 77.40
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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 12.90 12.90 12.90 12.90 12.90
1-Week 12.40 12.60 12.60 12.75 12.59
2-Week 12.25 12.50 12.40 12.60 12.44
1-Month 12.25 12.40 12.40 12.50 12.39
2-Months 12.25 12.40 12.35 12.50 12.38
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 14.00 18.00 15.00 17.50 16.13
1-Week 13.50 16.00 14.00 16.50 15.00
2-Week 13.50 15.50 14.00 16.00 14.75
1-Month 13.50 15.00 14.00 15.50 14.50
2-Months 13.50 15.00 14.00 15.50 14.50
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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