The dollar fell on the interbank market on Thursday in process of trading, dealers said. The rupee gained 13 paisa in terms of the greenback for buying at 85.71 and rose by 14 paisa for selling at 85.75, they said.
The yuan hit a record high against dollar on Thursday after the People's Bank of China set a higher mid-point, sparking expectations of more appreciation in the first quarter of next year. Spot yuan hit an intraday high of 6.6000, the highest level since its revaluation and accompanying forex reforms in July 2005. That was up 0.3 percent from Wednesday's close, the biggest daily percent rise in around seven weeks. The yuan has now risen 1.2 percent from a low hit on December 20, marking one of its fastest series of gains since the currency was de-pegged from dollar in mid-June. It has now gained 3.4 percent since the de-pegging.
Indian rupee was available at Rs 44.91 versus dollar and Malaysian ringgit was trading at 3.0810 in terms of the US currency.
=========================
Open Buying Rs 85.70
Open Selling Rs.85.80
=========================
=========================
Buying Rs.85.71
Selling Rs.85.75
=========================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 11.40 13.00 11.50 13.25 12.29
1-Week 11.60 12.95 12.90 13.00 12.61
2-Week 11.65 12.95 12.90 13.00 12.63
1-Month 11.90 12.90 12.90 13.00 12.68
2-Months 12.25 13.10 12.90 13.20 12.86
3-Months 12.60 13.15 13.10 13.25 13.03
4-Months 12.70 13.15 13.10 13.25 13.05
5-Months 12.75 13.20 13.20 13.35 13.13
6-Months 13.05 13.30 13.25 13.40 13.25
9-Months 13.10 13.40 13.30 13.60 13.35
1-Year 13.25 13.50 13.40 13.60 13.44
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 11.40 13.00 11.50 13.25 12.29
1-Week 12.50 13.10 13.00 13.25 12.96
2-Week 12.25 13.20 13.10 13.30 12.96
1-Month 12.50 13.25 13.10 13.40 13.06
2-Months 12.75 13.40 13.20 13.50 13.21
3-Months 12.80 13.50 13.25 13.75 13.33
4-Months 12.90 13.50 13.30 13.75 13.36
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
=================================================================
According to the moneychangers, the rupee appreciated its worth against the dollar on account of lacking buying support in the open market. The dollar was purchased and sold at Rs 85.50 and Rs 85.70, as compared to overnight closing of Rs 85.60 and Rs 85.80, respectively, they added.
On the other hand, the rupee showed stability and remained unchanged against the pound sterling. The pound was purchased and sold at its overnight closing rates of Rs 131.50 and Rs 132.50, respectively, they said.
The dollar resumed trading at Rs 85.55 (buying) and Rs 85.80 (selling) against the last 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 85.55 (buying) and Rs 85.80 (selling).
Pound Sterling opened at Rs 136.20 (buying) and Rs 136.70 (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 136.70 (selling).