Stable trend was again witnessed on interbank market on Thursday as the rupee recovered another five paisa in relation to dollar for buying and selling at 79.35 and 79.40, dealers said. The dollar supply improved as the small investors sold the greenback as a result of slight fluctuations versus the rupee, instead, the local currency is getting stronger, they said.
In the fourth session of the Asian trade risk aversion kept yen and dollar firm as global recession worries and credit jitters fuelled by uncertainty over the struggling US auto industry led investors to cut risky assets. Yen-buying gained steam in the afternoon as a slide in the Nikkei share average accelerated, with Japan's benchmark index tumbling 6.9 percent.
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Open Buying Rs 78.00
Open Selling Rs 79.00
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Buying Rs 79.35
Selling Rs 79.40
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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 1.00 5.00 2.00 7.00 3.75
1-Week 8.50 9.75 9.00 10.00 9.31
2-Week 9.75 10.50 10.25 10.75 10.31
1-Month 11.00 11.50 11.25 11.75 11.38
2-Months 12.25 12.60 12.50 13.00 12.59
3-Months 13.25 13.60 13.60 13.80 13.56
4-Months 13.50 13.75 13.75 14.00 13.75
5-Months 13.50 13.75 13.75 14.00 13.75
6-Months 13.60 14.00 14.00 14.25 13.96
9-Months 13.90 14.20 14.25 14.50 14.21
1-Year 14.00 14.25 14.30 14.55 14.28
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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 12.00 6.00 13.00 8.75
1-Week 12.00 14.00 13.00 15.00 13.50
2-Week 13.00 15.00 14.00 15.50 14.38
1-Month 14.00 15.50 15.50 16.00 15.25
2-Months 15.00 15.75 15.50 16.00 15.56
3-Months 15.00 16.00 16.00 16.50 15.88
4-Months 15.50 16.00 16.00 16.50 16.00
5-Months 15.75 16.25 16.25 16.75 16.25
6-Months 16.00 16.50 16.50 16.75 16.44
9-Months 16.25 16.75 16.75 17.00 16.69
1-Year 16.50 17.00 17.00 17.50 17.00
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On the contrary, the rupee recovered its earlier loss and showed improvement against the pound sterling. The pound's buying and selling rates slide down to Rs 117.50 and Rs 119.50, as compared to overnight closing of Rs 121.00 and Rs 121.50, respectively. The moneychangers were of the view the difference in the buying and selling rates of the foreign currencies against the local currency that had widened significantly because of buying at high rates, have now started diminishing and soon would be normalised.
Pound Sterling opened at Rs 117.50 (buying) and Rs 118.00 (selling) against the last rate of Rs 118.00 (buying) and Rs 119.00 (selling). It did not observe further change in the second session and closed at Rs 117.50 (buying) and Rs 118.00 (selling).