Sliding trend was again witnessed on the currency market on Monday as dollar demand was high to meet the payments, dealers said. On the interbank market the rupee shed seven paisa against dollar for buying and selling at 83.30 and 83.35, they said. Rising demand for dollars kept the rupee under pressure and it seems that the local currency may show further slide in the near-future due to said reason, money experts said.
In the first Asian trade dollar fell losing ground after a G7 ministers meeting at the weekend brought no surprises, while the Australian dollar gained as speculation mounted that the country's central bank could raise rates this week.
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Buying Rs 83.30
Selling Rs 83.35
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Open Buying Rs 83.10
Open Selling Rs 83.20
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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 12.15 12.75 12.35 12.90 12.54
1-Week 12.10 12.30 12.30 12.40 12.28
2-Week 12.10 12.30 12.30 12.40 12.28
1-Month 12.15 12.30 12.35 12.45 12.31
2-Months 12.00 12.25 12.25 12.35 12.21
3-Months 12.00 12.25 12.25 12.35 12.21
4-Months 12.00 12.25 12.20 12.40 12.21
5-Months 12.00 12.30 12.20 12.40 12.23
6-Months 12.00 12.30 12.20 12.50 12.25
9-Months 12.10 12.35 12.30 12.50 12.31
1-Year 12.20 12.35 12.30 12.55 12.35
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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 12.25 12.90 12.50 12.90 12.64
1-Week 12.15 12.35 12.25 12.40 12.29
2-Week 12.15 12.35 12.25 12.40 12.29
1-Month 12.15 12.30 12.30 12.45 12.30
2-Months 12.20 12.35 12.30 12.45 12.33
3-Months 12.25 12.35 12.30 12.45 12.34
4-Months 12.25 12.45 12.30 12.50 12.38
5-Months 12.30 12.45 12.35 12.50 12.40
6-Months 12.45 12.60 12.50 12.65 12.55
9-Months 12.45 12.60 12.50 12.65 12.55
1-Year 12.45 12.65 12.50 12.70 12.58
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As a result of fresh demand, the dollar slide up and closed at Rs 82.90 and Rs 83.20 against last Saturday closing of Rs 82.70 and Rs 82.95 on buying and selling sides, respectively, the dealers said. Similarly, the rupee could not maintain last week rising trend and remained under pressure against the pound sterling. The pound's buying and selling rates were improved to Rs 133.00 and Rs 134.00 as compared to Rs 132.75 and Rs 133.80 respectively, the dealers said.
Pound Sterling opened at Rs 131.40 (buying) and Rs 132.40 (selling) against last rate of Rs 131.80 (buying) and Rs 132.80 (selling). It did not observe further change in the evening session and closed at Rs 131.40 (buying) and Rs 132.40 (selling).