The rates moved both ways on the currency market on Friday dollar moving up and euro going down, in process of trading, dealers said. The rupee lost 13 paisa against the dollar for buying at 85.65 and shed 12 paisa for selling at 85.70, they said. In the second quarter of the current fiscal year, the dollar purchasing by importers pushed the dollar demand up, marketmen said.
China's yuan closed down against dollar on Friday as traders reported banks and their clients built long positions in dollars to bet on a continued near-term rise in the dollar in global markets.
The weakening came after the People's Bank of China (PBOC) fixed yuan's mid-point slightly stronger in a sign that the central bank hopes to keep the currency stable despite the dollar's strength -- a stance likely to set a floor for the yuan's fall. The Indian rupee weakened tracking losses in other Asian peers and the local stock market, with bunched up dollars outflows, a day after the US Thanksgiving holiday, also weighing.
By 11 am (0530 GMT), the partially convertible rupee was at 45.68-69 per dollar, 0.4 percent weaker than 45.5150-5250 at close on Thursday. Malaysian ringgit was trading at 3.133 versus dollar.
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Open Buying Rs 85.65
Open Selling Rs 85.70
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Buying Rs 85.40
Selling Rs 85.55
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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 13.00 11.90 13.20 12.40
1-Week 11.00 12.25 11.90 12.40 11.89
2-Week 11.10 12.30 12.25 12.40 12.01
1-Month 11.50 12.50 12.50 12.60 12.28
2-Months 12.00 12.55 12.50 12.65 12.43
3-Months 12.40 12.75 12.60 12.85 12.65
4-Months 12.50 12.80 12.75 12.90 12.74
5-Months 12.70 12.90 12.85 13.00 12.86
6-Months 12.80 12.90 12.80 13.00 12.88
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 11.50 13.00 11.90 13.25 12.41
1-Week 11.25 12.30 11.90 12.40 11.96
2-Week 12.00 12.35 12.30 12.45 12.28
1-Month 12.25 12.60 12.55 12.70 12.53
2-Months 12.40 12.90 12.75 13.00 12.76
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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The dollar showed strength and recovered its earlier loss on account of increasing demand, according to the currency changers. The dollar resumed trading at Rs 85.20 and Rs 85.50, as its buying and selling rates and ended with marginal improvement on both the counters, as it closed at Rs 85.35 and Rs 85.70, respectively, they added.
On the contrary the Pound sterling failed to continue upward trend and remained under pressure on account of less buying support in the local currency market.
The Pound was traded at Rs 134.00 and Rs 134.70, as its buying and selling rates, as compared to last closing of Rs 134.20 and Rs 135.20, respectively, they added.
The dollar resumed trading at Rs 85.45 (buying) and Rs 85.50 (selling) against the rate of Rs 86.20 (buying) and Rs 86.30 (selling). It did not observe further change in the evening session and closed at Rs 85.45 (buying) and Rs 85.50 (selling).
Pound Sterling opened at Rs 136.10 (buying) and Rs 136.30 (selling) in the morning session. It did not observe further change in the last trading hours and closed at Rs 136.10 (buying) and Rs 136.30 (selling).