Strong dollar buying pushed the rupee down versus the greenback on the local currency market on Friday, dealers said. On the interbank market, the rupee depreciated in terms of dollar, losing 10 paisa at 85.75 for buying and shed 11 paisa for selling at 85.78, marketmen said.
Higher demand for dollars kept the rupee under pressure ahead of two-day long weekend, they said. In the final Asian trade dollar was on the defensive near a 3-1/2 month low against a basket of currencies after weak US jobless claims figures heightened worries that Friday's payroll data could paint a bleak picture of the US economic recovery.
A weak reading could fuel talk that the Federal Reserve may consider additional easing steps as early as next week, which could put pressure on dollar particularly against yen, given the pair's recent strong correlation with US Treasury yields.
Indian rupee was trading at Rs 46.18 versus dollar, Malaysian ringgit was available at 3.1525 against the greenback and Chinese yuan was trading at 6.7692 in terms of the US currency.
The rupee, however, gained five paisa versus euro for buying and selling at Rs 112.00 and Rs 112.50, they added.
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Buying Rs 85.75
Selling Rs 85.78
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Open Buying Rs 85.75
Open Selling Rs 85.90
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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 11.50 12.75 12.00 12.80 12.26
1-Week 11.50 12.50 12.40 12.60 12.25
2-Week 11.60 12.45 12.40 12.50 12.24
1-Month 11.70 12.45 12.40 12.50 12.26
2-Months 11.85 12.40 12.30 12.50 12.26
3-Months 12.05 12.40 12.35 12.50 12.33
4-Months 12.10 12.45 12.40 12.50 12.36
5-Months 12.10 12.45 12.40 12.60 12.39
6-Months 12.25 12.50 12.45 12.60 12.45
9-Months 12.25 12.50 12.45 12.60 12.45
1-Year 12.30 12.60 12.50 12.70 12.53
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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 11.50 12.75 12.00 12.90 12.29
1-Week 12.10 12.60 12.40 12.65 12.44
2-Week 12.10 12.50 12.40 12.60 12.40
1-Month 12.20 12.60 12.50 12.75 12.51
2-Months 12.25 12.80 12.50 12.90 12.61
3-Months 12.30 12.90 12.60 13.25 12.76
4-Months 12.30 12.90 12.60 13.25 12.76
5-Months 12.35 13.00 12.70 13.25 12.83
6-Months 12.40 13.10 12.75 13.30 12.89
9-Months 12.50 13.20 12.75 13.35 12.95
1-Year 12.60 13.25 12.80 13.40 13.01
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According to dealers, the dollar closed lower at Rs 85.70 and Rs 85.85 as its buying and selling rates against Thursday's Rs 85.65 and Rs 85.80, respectively.
Similarly, the rupee depreciated its against pound sterling. The pound was purchased and sold at Rs 135.20 and Rs 135.70 as compared to its overnight closing of Rs 135.00 and Rs 135.50, respectively, dealers said.
The dollar opened at Rs 85.40 (buying) and 85.90 (selling) against the same last rates Rs 85.40 (buying) and 85.90 (selling). It did not observe further change in the evening session and closed at Rs 85.40(buying) and Rs 85.90 (selling).
Pound sterling opened at Rs 133.62 (buying) and Rs 136.04 (selling) against the previous rate Rs 133.41 (buying) and Rs 135.83 (selling). It did not observe further change in the last trading hours and closed at Rs 133.62 (buying) and Rs 136.04 (selling).
UAE Dirham opened at Rs 23.16 (buying) and Rs 23.35 (selling) in the morning session against the same last rate Rs 23.16 (buying) and Rs 23.35 (selling). The value of Dirham against the rupee remained unchanged in evening session and closed at Rs 23.16 (buying) and Rs 23.35 (selling).