Divergent trend was seen on the currency market on Monday as importers' were busy in purchasing dollars to meet the payment requirements, exports said. On the interbank market the rupee lost nine paisa against dollar for buying at 85.04 and shed eight paisa for selling at 85.09, dealers said.
In the first session of Asia sterling fell to a nine-month low against dollar and a one-year low on yen, hurt by political uncertainty after an opinion poll showing the chance of an inconclusive result at a British election due in months.Speculation the UK could revive its asset buying programme, after the Bank of England said last week it might take such a step if the economic outlook worsened, continued to weigh on the pound along with expectations of a sterling outflow from Prudential's purchase of the Asian unit of AIG.
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Buying Rs 85.04
Selling Rs.85.08
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Open Buying Rs.85.70
Open Selling Rs.85.85
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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 11.00 12.00 11.40 12.10 11.63
1-Week 11.20 12.00 11.75 12.10 11.76
2-Week 11.45 12.00 11.90 12.10 11.86
1-Month 11.50 12.00 12.00 12.10 11.90
2-Months 11.65 12.00 12.05 12.10 11.95
3-Months 11.80 12.10 12.10 12.15 12.04
4-Months 11.80 12.10 12.10 12.15 12.04
5-Months 11.85 12.10 12.10 12.20 12.06
6-Months 11.85 12.10 12.10 12.20 12.06
9-Months 11.85 12.10 12.10 12.20 12.06
1-Year 11.95 12.10 12.10 12.20 12.09
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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 11.00 12.00 11.50 12.15 11.66
1-Week 11.50 12.10 12.00 12.15 11.94
2-Week 11.60 12.10 12.00 12.15 11.96
1-Month 11.70 12.10 12.00 12.15 11.99
2-Months 11.90 12.15 12.15 12.20 12.10
3-Months 11.90 12.20 12.15 12.25 12.13
4-Months 12.00 12.20 12.15 12.25 12.15
5-Months 12.00 12.25 12.10 12.30 12.16
6-Months 12.00 12.25 12.15 12.30 12.18
9-Months 12.10 12.25 12.20 12.30 12.21
1-Year 12.15 12.30 12.25 12.40 12.28
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Likewise, the rupee showed strength and registered improvement in its value against the British pound. The pound was opened at Rs 130.50 and Rs 132.00 on buying and selling side but could not sustain because of selling pressure. At the end of trading, the pound's buying and selling rates were declined to Rs 127.50 and Rs 130.50 as compared to previous closing of Rs 131.50 and Rs 132.00, respectively, the dealers said.
The dollar opened at Rs 85.30 (buying) and Rs 85.40 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 85.30 (buying) and Rs 85.40 (selling).
Pound Sterling opened at Rs 129 (buying) and Rs 130 (selling) against last rate of Rs 130 (buying) and Rs 131 (selling). It did not observe further change in the second session and closed at Rs 129 (buying) and Rs 130 (selling).