All-round gains were seen on the currency market on Tuesday as the rupee was in commanding position versus dollar and euro, dealers said. The rupee posted fresh gains versus dollar, rising 20 paisa for buying and selling at 85.60 and 85.65, they said.
In the second Asian trade euro won a slight reprieve, though it was still dogged by worries over debt problems in the euro zone, while dollar slipped to a three-week low against yen after breaking below key chart levels.
China's yuan ended up against dollar on Tuesday, and traded firmer than the mid-point set by the People's Bank of China due to dollar weakness and as the market eyes yuan appreciation ahead of the US-China meeting. The Indian rupee edged higher, extending its winning streak to a sixth session, as dollar dropped versus major currencies and traders would watch the stock market for direction of fund flows.
At 10:05 am (0435 GMT), the partially convertible rupee was at 44.81/82 per dollar, stronger than 44.95/96 at close on Monday, when it had risen to 44.7950, which was its highest since November 12.
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Open Buying Rs 85.60
Open Selling Rs.85.75
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Buying Rs.85.60
Selling Rs.85.65
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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 12.80 12.20 12.90 12.48
1-Week 11.50 12.50 12.45 12.60 12.26
2-Week 11.70 12.50 12.50 12.60 12.33
1-Month 11.85 12.85 12.80 12.95 12.61
2-Months 12.25 12.95 13.00 13.10 12.83
3-Months 12.40 13.00 13.05 13.20 12.91
4-Months 12.70 13.10 13.10 13.25 13.04
5-Months 12.75 13.20 13.20 13.35 13.13
6-Months 12.90 13.30 13.25 13.40 13.21
9-Months 13.10 13.40 13.30 13.60 13.35
1-Year 13.25 13.50 13.40 13.60 13.44
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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 12.80 12.25 12.90 12.49
1-Week 11.90 12.50 12.50 12.60 12.38
2-Week 12.10 12.60 12.60 12.70 12.50
1-Month 12.40 13.30 12.90 13.35 12.99
2-Months 12.50 13.40 13.20 13.50 13.15
3-Months 12.75 13.50 13.25 13.75 13.31
4-Months 12.80 13.50 13.30 13.75 13.34
5-Months 13.00 13.50 13.40 13.75 13.41
6-Months 13.10 13.60 13.40 13.90 13.50
9-Months 13.25 13.60 13.50 13.90 13.56
1-Year 13.25 13.75 13.60 14.00 13.65
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According to the moneychangers, the dollar's diminishing demand helped Pak rupee appreciation in the open market. The dollar commenced trading at Rs 85.50 and Rs 85.80, as its buying and selling rates, respectively. At the end of trading, the dollars buying rate remained intact at Rs 85.50, while it moved down to Rs 85.70 at the selling counter, the moneychangers added.
On the contrary, the Pak rupee remained under pressure against the pound sterling. The Pound was purchased and sold at Rs 134.50 and Rs 135.50, as compared to overnight closing of Rs 133.50 and Rs 134.70, respectively, they added.
The dollar resumed trading at Rs 85.50 (buying) and Rs 85.60 (selling) against last rates of Rs 86.20 (buying) and Rs 86.30 (selling). It did not observe further change in the evening session and closed at Rs 85.50 (buying) and Rs 85.60 (selling).
Pound sterling opened at Rs 136.20 (buying) and Rs 136.60 (selling) in the morning session. It did not observe further change in the last trading hours and closed at Rs 136.20 (buying) and Rs 136.60 (selling).