Downward trend was seen on the local currency market on Saturday as the number increased for dollar purchasing, money, experts said. On the interbank market the rupee was down three paisa at 84.04 against dollar for buying and it shed one paisa for selling at 84.07, they said.
The rupee may move both ways versus dollar in the coming days, they added. At the weekend euro rose after an EU source said euro zone leaders had agreed to terms of a possible emergency loan aimed at helping Greece manage a worsening debt crisis. The news allowed traders to shrug off a downgrade by Fitch of Greece's credit rating by two notches, to one grade above junk status. Fitch Ratings cited Athens' fiscal challenges and uncertainty about how a European Union-International Monetary Fund aid program agreed last month would be applied.
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Buying Rs 84.04
Selling Rs 84.07
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Open Buying Rs 84.15
Open Selling Rs 84.25
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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 11.60 12.10 11.80 12.20 11.93
1-Week 11.25 11.98 11.95 12.00 11.80
2-Week 11.50 12.00 11.95 12.05 11.88
1-Month 11.60 12.00 11.95 12.05 11.90
2-Months 11.70 12.00 12.05 12.10 11.96
3-Months 11.75 12.00 12.05 12.10 11.98
4-Months 11.85 12.05 12.10 12.15 12.04
5-Months 11.85 12.10 12.10 12.15 12.05
6-Months 11.85 12.10 12.05 12.15 12.04
9-Months 11.95 12.15 12.15 12.20 12.11
1-Year 12.00 12.20 12.20 12.25 12.16
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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 11.60 12.00 11.90 12.15 11.91
1-Week 11.50 12.00 11.95 12.10 11.89
2-Week 11.60 12.00 11.95 12.10 11.91
1-Month 11.80 12.10 12.00 12.15 12.01
2-Months 11.90 12.10 12.10 12.15 12.06
3-Months 12.00 12.15 12.15 12.20 12.13
4-Months 12.00 12.20 12.15 12.25 12.15
5-Months 12.00 12.25 12.15 12.30 12.18
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, there was no change in dollar's demand and supply situation that helped rupee stability in the open market. The dollar was traded at overnight closing of Rs 84.10 and Rs 84.30 on buying and selling rates, respectively.
Similarly, the rupee stayed unchanged on buying side while it improved its worth on selling side in relation to the pound sterling. The pound was purchased and sold at Rs 127.30 and Rs 128.00, as compared to Friday closing of Rs 127.30 and Rs 128.30, respectively, the dealers said.
The dollar opened at Rs 84.00 (buying) and Rs 84.10 (selling) against the last rate. It did not observe further change in the last trading hour and closed at Rs 84.00 (buying) and Rs 84.10 (selling).
Pound Sterling opened at Rs 125.90 (buying) and Rs 126.90 (selling) against the last rate. It did not observe further change in the second session and closed at Rs 125.90 (buying) and Rs 126.90 (selling).