THE RUPEE: dollar lower on interbank market

14 Nov, 2008

Bullish sentiment was seen on the interbank market on Thursday following the announcement of raise in the discount rate to bring stability in economic fundamentals, money experts said. The rupee gained 15 paisa in relation to dollar for buying at 80.40 and it also dropped by 10 paisa for selling at 80.50 in process of trading, they said.
In the fourth Asian trading yen retreated from a two-week high against euro as short-term players locked in profits. But yen retained its overall strength as investors remained risk averse and favoured the perceived safety of the Japanese currency amid fears of a global recession.


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Open Buying Rs 79.50
Open Selling Rs 80.50
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Buying Rs 80.40
Selling Rs 80.50
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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 1.00 9.50 2.00 10.00 5.63
1-Week 8.50 10.00 9.50 10.50 9.63
2-Week 9.50 10.75 10.25 11.00 10.38
1-Month 12.50 13.00 13.00 13.25 12.94
2-Months 13.25 13.75 13.75 14.10 13.71
3-Months 13.40 14.00 13.75 14.25 13.85
4-Months 13.40 14.10 13.90 14.30 13.93
5-Months 13.50 14.10 14.00 14.40 14.00
6-Months 13.75 14.25 14.20 14.50 14.18
9-Months 14.00 14.50 14.40 14.60 14.38
1-Year 14.10 14.60 14.50 14.65 14.46
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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 4.00 15.00 6.00 16.00 10.25
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 16.50 17.00 17.00 18.00 17.13
4-Months 16.75 17.50 17.25 18.00 17.38
5-Months 17.00 17.75 17.25 18.00 17.50
6-Months 17.25 17.75 17.50 18.50 17.75
9-Months 17.50 18.00 18.00 19.00 18.13
1-Year 17.50 18.00 18.00 19.00 18.13
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At the end of trading, the dollar's buying rate closed higher at Rs 79.80 against the overnight closing of Rs 79.50.
However, the rupee showed strength and appreciated its value against the pound sterling. The pound was purchased and sold at Rs 121.00 and Rs 125.00 as compared to Wednesday closing of Rs 123.50 and Rs 127.00, respectively.

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