The State Bank's directive last week to the banks to procure interbank dollars to clear oil payments, forced the rupee to breach the barrier of 80 on the interbank market on Tuesday, dealers said. On the interbank market, the rupee fell sharply, losing 50 paisa for buying at 80.10 and it lost 55 paisa for selling at 80.20, they added.
Thus, the rupee has lost nearly 80 paisa versus the dollar since the week started, they said. And it looks the rupee may show further weakness or might move at the present levels for near-term, they said. The importers bought about 50 million dollars to meet the oil payments, they added.
During the second session trade in Asia, the dollar gained against a basket of currencies on Tuesday as the pound extended losses to a seven-year low versus the greenback, after Royal Bank of Scotland recorded the biggest loss in British corporate history and revived concerns about the global banking sector. Sterling also hit a record low against yen after the impact of Britain's rescue plans quickly dissipated in the face of tumbling European shares.
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Open Buying Rs 79.30
Open Selling Rs 79.70
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Buying Rs 80.10
Selling Rs 80.20
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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 6.00 13.50 6.50 14.00 10.00
1-Week 9.25 9.90 9.50 10.00 9.66
2-Week 10.25 10.75 10.75 11.00 10.69
1-Month 11.50 12.00 11.75 12.25 11.88
2-Months 12.60 13.00 12.85 13.20 12.91
3-Months 13.25 13.50 13.50 13.75 13.50
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
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Overnight 7.00 14.00 8.00 14.50 10.88
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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