Divergent trend was seen on the currency market on Wednesday as the rupee moved both ways in process of trading, market men said. On the interbank market, the rupee shed two paisa against dollar for buying and selling at 79.12 and 79.15, they said. During the third Asian trading, the euro recovered from a one-month low against dollar but remained under pressure as investors braced for a European Central Bank rate cut this week.
The single European currency's gains were limited due to the recent threat of ratings downgrades for some euro-zone countries, with much of the day's recovery merely due to short-covering, traders said. Markets expected European Central Bank (ECB) would cut interest rates on Thursday by 50 basis points from the current 2.5 percent, to help fight the economic downturn.

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Open Buying             Rs 78.80
Open Selling            Rs 79.30
================================

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Buying                Rs 79.12
Selling               Rs 79.15
==============================
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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    0.50      5.00        1.00         6.00         3.13
1-Week       9.00     10.00        9.50        10.50         9.75
2-Week      11.50     11.75       12.00        12.25        11.88
1-Month     12.00     12.50       12.25        12.75        12.38
2-Months    12.90     13.10       13.10        13.25        13.09
3-Months    13.25     13.75       13.60        13.90        13.63
4-Months    13.25     13.75       13.75        14.00        13.69
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
=================================================================
Overnight    2.00      8.00        3.00         8.50         5.38
1-Week      12.00     13.00       12.50        14.00        12.88
2-Week      12.00     13.50       13.00        14.00        13.13
1-Month     13.00     14.50       14.00        14.50        14.00
2-Months    14.00     15.00       15.00        15.50        14.88
3-Months    14.50     15.50       15.00        16.00        15.25
4-Months    15.00     15.50       15.50        16.00        15.50
5-Months    15.50     16.00       16.00        16.50        16.00
6-Months    15.50     16.50       16.50        17.00        16.38
9-Months    16.00     16.75       16.50        17.00        16.56
1-Year      16.50     16.75       16.75        17.50        16.88
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