The rupee extended its overnight gain against dollar on the currency market on Wednesday in the process of strong demand for dollars, dealers said. On the interbank market the rupee gained 15 paisa against the dollar for buying and selling at 83.10 and 83.15, they said. Rising demand for dollars kept the rupee under pressure and it seems that the local currency may show some slide in the near-future due to said reason, money exports.
In the third Asian trade dollar was on the defensive while higher-yielding currencies such as the Australian dollar held near their 2009 highs, buoyed by investors' search for returns.
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Buying Rs 83.10
Selling Rs.83.15
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Open Buying Rs.83.00
Open Selling Rs.83.10
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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 12.25 12.75 12.40 12.90 12.58
1-Week 12.10 12.35 12.35 12.45 12.31
2-Week 12.10 12.30 12.35 12.45 12.30
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 12.75 12.50 12.90 12.60
1-Week 12.15 12.40 12.50 12.60 12.41
2-Week 12.15 12.40 12.50 12.55 12.40
1-Month 12.15 12.40 12.50 12.55 12.40
2-Months 12.20 12.35 12.45 12.60 12.40
3-Months 12.25 12.35 12.45 12.60 12.41
4-Months 12.25 12.45 12.50 12.60 12.45
5-Months 12.30 12.45 12.50 12.65 12.48
6-Months 12.45 12.60 12.55 12.65 12.56
9-Months 12.45 12.60 12.55 12.70 12.58
1-Year 12.45 12.65 12.60 12.70 12.60
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On the contrary, the rupee could not maintain its position against the British pound and was declined on buying side while it stayed unchanged on selling side. The pound was purchased and sold at Rs 132.50 and Rs 133.50, as compared to last day closing of Rs 132.00 and Rs 133.50, respectively, the dealers said.