The rupee managed to gain sharply against dollar, it, however, failed to retain its gains versus euro on the local currency market on Wednesday, exports said. On the interbank market the rupee recovered eight paisa at 85.00 versus dollar for buying and gained seven paisa for selling at 85.05, dealers said.
During the Asian trade dollar fell to its lowest in more than two months against yen as investors dumped long positions against other currencies that had built up to levels not seen in more than a year.
Investors have been picking up dollars in recent months as Greece's credit and fiscal woes hit the euro and worries over a potential hung parliament and speculation that Britain's asset-buying scheme could be revived knocked the pound lower.
The rupee gave up firmness against euro, losing 50 paisa for buying and selling at 114.85 and Rs 115.35, they added.

==============================
Buying                Rs 85.00
Selling               Rs.85.05
==============================

==============================
Open Buying           Rs.85.20
Open Selling          Rs.85.40
==============================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight    10.25      11.90       10.75       12.00       11.23
1-Week       11.20      11.75       11.60       11.90       11.61
2-Week       11.45      11.90       11.80       12.00       11.79
1-Month      11.50      11.95       12.00       12.10       11.89
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
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight    10.50      11.90       11.00       12.00       11.35
1-Week       11.40      12.00       11.90       12.10       11.85
2-Week       11.50      12.00       11.90       12.10       11.88
1-Month      11.60      12.10       12.00       12.15       11.96
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
=================================================================