Bearish sentiment was seen on the currency market on Friday as buyers were trying to cover the forward requirements, dealers said. On the interbank market the rupee gave up overnight gains in relation to dollar, dropping fives paisa for buying at 79.90 and it also shed three paisa for selling at 79.93, they said.
Payments requirements made dollar strong versus the rupee, they said adding that the rupee may not improve sharply in the near-term, they added. In the final Asian session dollar fell more than one percent against yen, erasing all of the previous day's gains to a three-month high, as speculators took profits on its sharp rally against the Japanese currency over the past two weeks.
The dollar slid as low as 97.32 yen on trading platform EBS, down 1.2 percent on the day and well below a three-month peak of 98.72 yen struck the previous day.
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Buying Rs 79.90
Selling Rs 79.93
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Open Buying Rs 79.80
Open 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 3.00 9.50 4.00 10.00 6.63
1-Week 8.00 9.00 8.25 9.25 8.63
2-Week 9.00 9.75 9.25 10.00 9.50
1-Month 9.75 10.50 10.00 10.75 10.25
2-Months 10.75 11.25 11.25 11.50 11.19
3-Months 11.00 11.40 11.40 11.60 11.35
4-Months 11.25 11.60 11.40 11.75 11.50
5-Months 11.50 11.75 11.75 11.90 11.73
6-Months 11.50 11.75 11.75 12.00 11.75
9-Months 11.75 12.00 11.90 12.25 11.98
1-Year 11.90 12.20 12.10 12.40 12.15
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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 10.00 5.00 11.00 7.50
1-Week 9.00 11.00 9.50 11.50 10.25
2-Week 9.50 11.50 10.00 12.00 10.75
1-Month 10.50 11.75 11.00 12.00 11.31
2-Months 12.25 13.00 12.75 13.25 12.81
3-Months 12.75 13.50 13.25 14.00 13.38
4-Months 12.75 13.50 13.25 14.00 13.38
5-Months 12.90 13.60 13.25 13.90 13.41
6-Months 13.00 13.90 13.50 14.10 13.63
9-Months 13.75 14.25 14.25 14.50 14.19
1-Year 14.00 14.50 14.50 14.90 14.48
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At the end of trading, the dollar closed higher at Rs 79.90 and Rs 80.30 as compared to Wednesday closing of Rs 79.50 and Rs 79.90, respectively. However, the rupee maintained rising trend and further increased against the British pound. The pound was slipped from previous closing of Rs 114.50 and Rs 115.50 to Rs 113.50 and Rs 114.50 on buying and selling sides, respectively.
It did not observe further change in the evening session and closed at Rs 79.50 (buying) and Rs 79.60 (selling). Pound Sterling opened at Rs 112.50 (buying) and Rs 113.50 (selling) against same previous rate. It did not observe further change in the evening session and closed at Rs 112.50 (buying) and Rs 113.50 (selling).