Falling trend was seen on the currency market on Wednesday as the rupee failed to retain its overnight levels due to strong demand for dollars, dealers said. On the interbank market the rupee was down against dollar, losing seven paisa for buying at 80.60 and dropping 10 paisa for selling at 80.65, they added.
In the third Asian trading yen rose as falls in share prices and worries about upcoming earnings results for big US companies prompted investors to flock to its perceived safety. The yen showed limited reaction to news that Japans current account surplus halved in February from a year earlier as the global financial crisis took its toll on Japanese exports.
================================
Open Buying Rs 80.60
Open Selling Rs 80.75
================================
==============================
Buying Rs 80.60
Selling Rs 80.65
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 13.75 14.90 13.90 14.90 14.36
1-Week 13.25 13.50 13.50 13.75 13.50
2-Week 12.75 13.25 13.15 13.50 13.16
1-Month 12.50 13.00 12.90 13.20 12.90
2-Months 12.00 12.25 12.25 12.40 12.23
3-Months 11.90 12.25 12.30 12.50 12.24
4-Months 12.00 12.40 12.30 12.60 12.33
5-Months 12.00 12.40 12.30 12.60 12.33
6-Months 12.10 12.45 12.35 12.65 12.39
9-Months 12.20 12.50 12.40 12.75 12.46
1-Year 12.25 12.60 12.50 12.75 12.53
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 14.00 14.90 14.25 15.00 14.54
1-Week 13.50 14.00 13.75 14.50 13.94
2-Week 13.00 13.50 13.25 13.75 13.38
1-Month 13.00 13.50 13.40 13.75 13.41
2-Months 13.00 13.40 13.25 13.50 13.29
3-Months 13.00 13.40 13.25 13.60 13.31
4-Months 13.00 13.50 13.30 13.60 13.35
5-Months 13.00 13.50 13.40 13.60 13.38
6-Months 13.00 13.60 13.50 13.75 13.46
9-Months 13.20 13.75 13.50 14.00 13.61
1-Year 13.30 13.75 13.40 14.00 13.61
=================================================================
The dollar was traded at Rs 80.80 and Rs 81.10 on buying and selling sides as compared to overnight closing of Rs 80.85 and Rs 81.10, respectively. However, the rupee remained under pressure and further depreciated its value against the pound sterling. The pound was purchased and sold at Rs 117.50 and Rs 119.00 against the Tuesday closing of Rs 116.50 and Rs 118.00, respectively.
It did not observe further change in the evening session and closed at Rs 80.60 (buying) and Rs 80.70 (selling). Pound Sterling opened at Rs 116.80 (buying) and Rs 117.80 (selling) against the last rate of Rs 115.00 (buying) and Rs 116.00 (selling). It did not observe further change in the second session and closed at Rs 116.80 (buying) and Rs 117.80 (selling).