Strong demand for dollars, pushed the rupee down on the interbank market on Friday, losing 15 paisa for buying and selling at 79.60 and 79.65, dealers said. Big payments did not allow the rupee to retain its firmness against the dollar, they said. It seems that the rupee would continue its weakness in the near future, they added.
In the final session of Asian trade yen and dollar fell broadly as regional stock markets rose on hopes for a US government programme to subsidise mortgages and as investors readied for a Group of Seven finance officials meeting. The yen, which tends to fluctuate based on perceived shifts in investors' risk appetite, lost ground to euro and higher yielding currencies as Asian equities rose, with Japan's benchmark Nikkei share average gaining 1 percent.
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Open Buying Rs 79.30
Open Selling Rs 79.70
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Buying Rs 79.60
Selling Rs 79.65
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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 12.50 14.90 13.00 14.90 13.83
1-Week 11.75 12.25 12.00 12.50 12.13
2-Week 11.75 12.25 12.00 12.50 12.13
1-Month 12.00 12.25 12.25 12.50 12.25
2-Months 12.50 12.75 12.75 13.00 12.75
3-Months 12.75 13.00 13.00 13.25 13.00
4-Months 12.90 13.20 13.25 13.40 13.19
5-Months 13.10 13.35 13.25 13.45 13.29
6-Months 13.20 13.40 13.40 13.60 13.40
9-Months 13.25 13.45 13.50 13.55 13.44
1-Year 13.40 13.50 13.55 13.65 13.53
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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 13.50 14.90 14.00 15.00 14.35
1-Week 12.50 13.25 13.00 13.50 13.06
2-Week 12.50 13.50 13.00 14.00 13.25
1-Month 12.75 13.50 13.25 14.00 13.38
2-Months 13.25 14.00 13.50 14.25 13.75
3-Months 13.75 14.50 14.25 14.75 14.31
4-Months 14.00 14.50 14.25 14.75 14.38
5-Months 14.00 14.60 14.50 14.75 14.46
6-Months 14.25 14.75 14.75 15.00 14.69
9-Months 14.75 15.25 15.00 15.50 15.13
1-Year 15.00 15.50 15.25 15.75 15.38
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According to the currency dealers, the dollar recorded a gain of five paisa in its buying rate while its selling rate remained unchanged at overnight closing level. The dollar was traded at Rs 79.45 and Rs 78.80 as on buying and selling sides, respectively.
However, the rupee could not maintain upward slide and slide down against the British pound. The pound's buying and selling rates increased from Thursday closing of Rs 113.00 and Rs 115.00 to Rs 114.50 and Rs 116.00, respectively the dealers said.
Pound Sterling opened at Rs 114.50 (buying) and Rs 115.50 (selling) against the last rate of Rs 116.50 (buying) and Rs 117.50 (selling). It did not observe further change in the evening session and closed at Rs 114.50 (buying) and Rs 115.50 (selling).