The rupee made sharp recovery against dollar on the interbank market and it also touched the new high at 79.00 on the open market on Monday, currency experts observed. The rupee gained 32 paisa in relation to dollar on the interbank market for buying and selling at 80.78 and 80.83, they said.
In the first Asian trading yen fell against dollar and the euro as a rally in Asian shares improved investors' appetite for risk, reducing demand for the Japanese currency. Asian shares were boosted by China's launch of a huge economic stimulus plan on Sunday, following a rebound on Wall Street on Friday.
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Open Buying Rs 79.00
Open Selling Rs 79.30
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Buying Rs 80.78
Selling Rs 80.83
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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 5.00 11.50 6.00 12.00 8.63
1-Week 10.25 10.50 10.75 11.00 10.63
2-Week 11.25 11.50 11.60 11.90 11.56
1-Month 12.25 12.50 12.60 12.90 12.56
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 10.50 15.00 12.00 16.00 13.38
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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It is worth mentioning that the difference in the buying and selling rates of foreign currencies has significantly increased, to which moneychangers said that they had bought foreign currencies at high rates and thus could not afford loss. In view of prevailing trend, the moneychangers are expecting further recovery in rupee value.