Marginal changes were seen on the local currency market on Thursday in proccess of trading, experts said On the interbank market the rupee shed three paisa against dollar for buying at 84.28 and drifted lower by two paisa for selling at 84.32, they said. In the fourth Asian session euro tumbled broadly after a newswire report saying that Greece is not hopeful of receiving aid from other euro zone members.
A Greek official quoted in the report said the country was growing increasingly pessimistic about the prospect of help at a European Union summit on March 25 and may seek International Monetary Fund (IMF) aid during the April 2-4 Easter weekend. Greece has said it was counting on EU leaders to approve an aid mechanism for the country at the meeting next week as it battles to deal with crippling debts. But some countries - especially Germany, the EU's biggest paymaster - are wary of making any concrete promises, and market participants said the Dow Jones Newswires report suggested a rift between Greece and Germany may be deepening.
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Buying Rs 84.28
Selling Rs.84.32
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Open Buying Rs.84.50
Open Selling Rs.84.65
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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 12.40 12.30 12.40 12.34
1-Week 11.50 12.15 12.10 12.20 11.99
2-Week 11.55 12.10 12.05 12.15 11.96
1-Month 11.60 12.10 12.05 12.15 11.98
2-Months 11.75 12.10 12.05 12.15 12.01
3-Months 11.80 12.10 12.05 12.15 12.03
4-Months 11.85 12.10 12.10 12.15 12.05
5-Months 11.90 12.10 12.10 12.20 12.08
6-Months 11.90 12.15 12.10 12.20 12.09
9-Months 11.95 12.15 12.10 12.20 12.10
1-Year 12.00 12.20 12.10 12.25 12.14
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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 12.40 12.35 12.40 12.35
1-Week 11.70 12.15 12.10 12.20 12.04
2-Week 11.80 12.15 12.10 12.20 12.06
1-Month 11.90 12.15 12.10 12.20 12.09
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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According to the currency dealers, because of lacking buying support, the dollar could not maintain its overnight level and slide down against the rupee. The dollar was ended at Rs 84.30 and Rs 84.60, as its buying and selling rates against the Wednesday closing of Rs 84.45 and Rs 84.70, respectively.
Likewise, the rupee remained strong and appreciated its worth against the British pound. The pound's buying and selling rates were declined from previous closing of Rs 128.50 and Rs 129.50 to Rs 128.30 and Rs 129.00, respectively, the dealers said.
The dollar opened at Rs 84.20 (buying) and Rs 84.30 (selling) against the last rate. It did not observe further change in the last trading hours and closed at Rs 84.20 (buying) and Rs 84.30 (selling).
Pound Sterling opened at Rs 126.60 (buying) and Rs 127.60 (selling) against the last rate. It did not observe further change in the second session and closed at Rs 126.60 (buying) and Rs 127.60 (selling).