Range-bound trading was seen on the interbank market on Wednesday, as the rupee's fluctuation was narrow versus dollar mainly because of strong supply of dollars, dealers said. On the interbank market the rupee gained one paisa in relation to the US currency for buying 83.45, it, however, shed the same amount for selling at 83.50, they added.
In the Third Asian markets dollar drifted sideways after short-covering waned in Asia and as investors waited for US inflation data, as well as for minutes from the Bank of England's November meeting for clues on its decision to expand its asset buying programme.
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Open Buying Rs 83.50
Open Selling Rs.83.60
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Buying Rs.83.45
Selling Rs.83.50
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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 12.50 12.90 12.60
1-Week 12.00 12.40 12.35 12.45 12.30
2-Week 12.05 12.45 12.35 12.50 12.34
1-Month 12.10 12.40 12.40 12.45 12.34
2-Months 12.10 12.35 12.30 12.40 12.29
3-Months 12.10 12.30 12.25 12.35 12.25
4-Months 12.00 12.30 12.25 12.35 12.23
5-Months 12.00 12.30 12.25 12.35 12.23
6-Months 11.90 12.30 12.25 12.35 12.20
9-Months 11.90 12.40 12.30 12.40 12.25
1-Year 11.90 12.40 12.30 12.40 12.25
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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 12.30 12.80 12.60 12.90 12.65
1-Week 12.25 12.50 12.40 12.60 12.44
2-Week 12.25 12.60 12.34 12.65 12.46
1-Month 12.25 12.60 12.45 12.70 12.50
2-Months 12.30 12.60 12.45 12.75 12.53
3-Months 12.30 12.60 12.45 12.75 12.53
4-Months 12.35 12.65 12.50 12.75 12.56
5-Months 12.40 12.70 12.50 12.85 12.61
6-Months 12.45 12.70 12.50 12.85 12.63
9-Months 12.45 12.75 12.55 12.90 12.66
1-Year 12.45 12.80 12.75 13.00 12.75
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However, some of the moneychangers quoted buying rate of the dollar as Rs 83.45. On the contrary, the local currency remained weak against the British pound. The pound's buying and selling rates were increased to Rs 138.70 and Rs 139.50 as compared to Tuesday's closing rates of Rs 138.00 and Rs 139.00, respectively, the dealers said.
Pound sterling opened at Rs 137.50 (buying) and Rs 137.70 (selling) against last rates of Rs 136.80 (buying) and Rs 137 (selling). It did not observe further change in the evening session and closed at Rs 137.50 (buying) and Rs 137.70 (selling).