As a result of positive measures taken by the government, bullish trend was seen on the interbank market on Saturday as the rupee gained 10 paisa against the dollar for buying and selling at 81.10 and 81.15, moneychangers said. The rupee was able to gain strength as a result of easy supply of dollars and it is likely that it may improve further in the near future, they said.
The government is taking measures to halt the artificial shortage of dollar in the market, they said. At the weekend, in the NY market, the dollar dipped against most major currencies after data showed US employers cut 240,000 jobs last month, pushing the jobless rate to a 14-year high and adding more dark clouds to a gloomy economic horizon. US President-elect Barack Obama, in his first press conference since winning the election, said the United States was facing "the greatest economic challenge of our lifetime" and called for a stimulus package "sooner rather than later."
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Open Buying Rs 80.90
Open Selling Rs 81.30
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Buying Rs 81.10
Selling Rs 81.15
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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 8.00 10.00 9.50 11.00 9.63
1-Week 10.25 10.50 10.50 10.75 10.50
2-Week 11.00 11.25 11.40 11.70 11.34
1-Month 11.75 12.00 12.10 12.25 12.03
2-Months 12.80 13.10 13.20 13.40 13.13
3-Months 12.90 13.25 13.50 13.60 13.31
4-Months 12.95 13.25 13.55 13.65 13.35
5-Months 12.95 13.30 13.50 13.70 13.36
6-Months 13.00 13.50 13.60 13.75 13.46
9-Months 13.00 13.60 13.65 13.75 13.50
1-Year 13.20 13.70 13.70 13.80 13.60
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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 13.00 15.00 14.00 16.00 14.50
1-Week 13.00 15.50 13.50 16.25 14.56
2-Week 14.00 16.00 14.50 17.00 15.38
1-Month 15.00 16.50 15.50 17.00 16.00
2-Months 15.50 16.50 16.00 17.00 16.25
3-Months 16.00 17.00 16.50 18.00 16.88
4-Months 16.00 17.00 16.50 18.00 16.88
5-Months 16.50 17.50 17.00 18.00 17.25
6-Months 16.50 17.50 17.00 18.50 17.38
9-Months 17.00 18.00 18.00 19.00 18.00
1-Year 17.00 18.00 18.00 19.00 18.00
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However, amid partially opened market, the dollar kept on moving down and finally closed at Rs 80.00 and Rs 81.00 on buying and selling sides against overnight closing of Rs 80.50 and Rs 81.50, respectively. Similarly, the rupee maintained upward slide and the British pound slipped to Rs 127.00 and Rs 129.00 against Friday closing of Rs 128.00 and Rs 131.00, respectively.