The rupee rates versus dollar moved both ways in the currency market on Wednesday in process of strong demand for the greenback, dealers said. The rupee dropped six paisa at 85.90 against dollar for buying and shed seven paisa at 85.95 for selling, they said.
The newspaper said the Fed is likely to reveal a programme of US Treasury bond purchases worth several hundred billion dollars over several months. What the report called a "measured approach" compares with investors' base-case scenario for an initial commitment to buy at least dollar 500 billion in Treasury debt. Indian rupee was trading at Rs 44.56 versus dollar, Malaysian ringgit was available at 3.1090 in terms of the US currency and Chinese yuan was at 6.678 against the greenback.
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Open Buying Rs 85.90
Open Selling Rs.86.05
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Buying Rs.85.90
Selling Rs.85.95
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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 13.40 12.50 13.40 12.89
1-Week 11.50 12.40 12.25 12.45 12.15
2-Week 11.60 12.35 12.30 12.40 12.16
1-Month 11.75 12.40 12.35 12.45 12.24
2-Months 12.20 12.50 12.45 12.60 12.44
3-Months 12.30 12.65 12.60 12.75 12.58
4-Months 12.50 12.75 12.75 12.80 12.70
5-Months 12.55 12.90 12.85 13.00 12.83
6-Months 12.60 12.90 12.80 13.00 12.83
9-Months 12.70 13.00 12.95 13.10 12.94
1-Year 12.80 13.00 13.00 13.15 12.99
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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 13.40 12.50 13.40 12.89
1-Week 11.60 12.45 12.30 12.50 12.21
2-Week 11.75 12.40 12.35 12.50 12.25
1-Month 12.20 12.50 12.45 12.60 12.44
2-Months 12.40 12.75 12.70 12.85 12.68
3-Months 12.50 13.10 12.90 13.25 12.94
4-Months 12.60 13.15 13.00 13.25 13.00
5-Months 12.70 13.20 13.10 13.30 13.08
6-Months 12.80 13.25 12.90 13.35 13.08
9-Months 12.90 13.30 13.10 13.40 13.18
1-Year 13.10 13.40 13.20 13.45 13.29
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According to currency dealers, the dollar resumed trading at overnight Rs 85.90 and Rs 86.20 as buying and selling rates, respectively. In the absence of buying support, the dollar could not sustain and declined to Rs 86.10 on selling counter, while its buying rate remained unchanged at Rs 85.90, dealers said.
On the other hand, the rupee appreciated against pound sterling on buying side and remained unchanged on selling side. The pound was purchased and sold at Rs 134.80 and Rs 135.80 as compared to overnight closing of Rs 135.00 and Rs 135.80, respectively, dealers added.
The dollar resumed trading at Rs 86.15 (buying) and Rs 86.60 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 86.15 (buying) and Rs 86.60 (selling).
Pound Sterling opened at Rs 134.00 (buying) and Rs 135.20 (selling) in the morning session. It did not observe further change in the last trading hours and closed at Rs 134.00 (buying) and Rs 135.20 (selling).