Rates fell on the local currency market on Wednesday as the rupee gave up overnight gains against dollar but it inched up versus euro, money experts said. On the interbank market fluctuation in the rupee value appeared like the hide-and-seek game. One day it goes up and the other day, it comes down as on Wednesday it gave up overnight's surge by shedding 25 paisa versus dollar for buying at 84.15 and fell by 26 for selling at 84.22, they said.
In the third Asian trade euro slipped on Wednesday on nagging worries about the euro zone's ability to tackle its debt crisis, while sterling trimmed gains made against dollar after a new coalition UK government was formed. Risk aversion moves lifted yen after the online edition of Wall Street Journal, citing people familiar with the matter, said US federal investigators are probing whether Morgan Stanley misled investors about mortgage-derivative products it helped design and sometimes bet against. The Indian rupee was trading at 45.27 versus dollar, ringgit was at 3.2110 versus dollar and Chinese yuan was at 6.8273 in terms of the US currency.
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Buying Rs 84.15
Selling Rs 84.22
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Buying Rs 84.05
Selling Rs 84.20
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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 9.60 10.25 9.75 10.50 10.03
1-Week 10.40 10.90 10.75 11.00 10.76
2-Week 10.80 11.30 11.25 11.40 11.19
1-Month 10.90 11.40 11.50 11.60 11.35
2-Months 11.30 11.70 11.70 11.85 11.64
3-Months 11.65 11.80 11.85 11.95 11.81
4-Months 11.75 11.90 11.90 12.00 11.89
5-Months 11.80 11.90 11.95 12.00 11.91
6-Months 11.80 11.95 11.95 12.05 11.94
9-Months 11.95 12.10 12.10 12.15 12.08
1-Year 12.00 12.10 12.10 12.20 12.10
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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 9.60 10.25 9.75 10.50 10.03
1-Week 10.75 11.20 11.00 11.30 11.06
2-Week 11.10 11.50 11.30 11.60 11.38
1-Month 11.40 11.75 11.65 11.85 11.66
2-Months 11.75 12.10 12.00 12.20 12.01
3-Months 11.90 12.15 12.10 12.20 12.09
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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The dollar opened at overnight Rs 84.10 and Rs 84.25 for buying and selling. In the absence of fresh buying activity, the dollar lost its worth and closed at Rs 84.05 (buying) and Rs 84.20(selling). According to dealers, the dollar is loosing ground due to more supply and less demand.
On the other hand, the local currency depreciated its worth against British pound. The pound's buying and selling rates were moved up to Rs 126.00 and Rs 127.30, as compared to Tuesday's Rs 125.50 and Rs 126.30, respectively, the dealers said.
The dollar opened at Rs 83.90 (buying) and Rs 84.10 (selling) against the same overnight value. It did not observe further change in the last trading hours and closed at Rs 83.90 (buying) and Rs 84.10 (selling).
Pound Sterling opened at Rs 127.00 (buying) and Rs 128.00 (selling) against the same previous rate. It did not observe further change in the evening session and closed at Rs 127.00 (buying) and Rs 128.00 (selling).