The rupee was sharply higher against dollar and euro on the local currency market on Tuesday, experts said. On the interbank market the rupee maintained its surge, gaining 16 paisa for buying at 83.79 and by 18 paisa for selling at 83.82, they said.
During second Asian session dollar fell against yen on Tuesday as concerns about Japan's economy eased, dealers said. The dollar slid to 92.75 yen in Tokyo afternoon trade from 93.21 in New York late Monday. The euro dropped to 1.3580 dollars from 1.3589 and to 125.97 yen from 126.73. The euro soared Monday on news of a eurozone safety net plan for Greece but soon lost steam due to fears that other members of the single-currency area could now face heavy financial pressure.
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Buying Rs 83.79
Selling Rs 83.82
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Open Buying Rs 83.85
Open Selling Rs 84.00
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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 12.00 12.40 12.20 12.40 12.25
1-Week 11.40 12.10 12.05 12.15 11.93
2-Week 11.45 12.05 12.00 12.10 11.90
1-Month 11.50 12.00 12.00 12.10 11.90
2-Months 11.70 12.00 12.05 12.10 11.96
3-Months 11.80 12.05 12.05 12.10 12.00
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 12.00 12.40 12.20 12.40 12.25
1-Week 11.60 12.15 12.10 12.25 12.03
2-Week 11.75 12.10 12.05 12.15 12.01
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 moneychangers, because of lacking buying support, the dollar could not sustain and remained under pressure during the day. At the end of trading, the dollar was closed lower at Rs 84.00 and Rs 84.30, as its buying and selling rates against the overnight closing of Rs 84.10 and Rs 84.35, respectively.
Similarly, the rupee showed strength and appreciated its worth against the pound sterling. The pound was traded at Rs 127.80 and Rs 128.60 on buying and selling sides, as compared to Monday closing of Rs 128.00 and Rs 129.00 respectively, the dealers said.