The rupee hit the low at 86 in the open market on Tuesday as a result of importers' rush for dollar buying to clear the bills, specially for oil payments, dealers said.
In the second Asian trade euro hovered above a four-month trough hit the previous day, after Japan said it may buy about a fifth of the bonds a European rescue fund plans to sell later this month to finance its bailout scheme for Ireland.
But Finance Minister Yoshihiko Noda suggested Japan would use its euro cash holdings to buy the bonds, dampening some of the initial excitement from traders who had thought the move may involve fresh buying of the European currency. Indian rupee was trading at Rs 45.25 versus dollar, Malaysian ringgit was trading at 3.0710 in terms of the US currency and Chinese yuan at Rs 6.621 in relation to the greenback.
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Open Buying Rs 85.73
Open Selling Rs 85.77
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Buying Rs 85.85
Selling Rs 86.05
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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 11.10 11.75 11.25 12.00 11.53
1-Week 11.50 12.30 12.25 12.40 12.11
2-Week 11.55 12.60 12.60 12.75 12.38
1-Month 11.90 12.85 12.85 12.95 12.64
2-Months 12.25 12.95 12.90 13.05 12.79
3-Months 12.70 13.10 13.10 13.20 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 13.25 13.40 13.30 13.45 13.35
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 11.10 11.75 11.25 12.00 11.53
1-Week 11.75 12.35 12.25 12.40 12.19
2-Week 12.25 12.70 12.70 12.75 12.60
1-Month 12.40 12.90 12.90 13.00 12.80
2-Months 12.75 13.25 13.25 13.40 13.16
3-Months 12.90 13.40 13.25 13.50 13.26
4-Months 12.90 13.50 13.30 13.60 13.33
5-Months 13.00 13.50 13.40 13.75 13.41
6-Months 13.30 13.70 13.50 13.90 13.60
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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The dollar continued upward slide on account of surge in demand for last few days, the currency dealers mentioned. The dollar resumed trading at Rs 85.80 and Rs 86.10, as its buying and selling rates and closed with improvement on both counters at Rs 86.00 and Rs 86.20, respectively, the dealers said.
Likewise, the Pak rupee lost 50-paisa on both counters against the pound sterling. The pound was purchased and sold at Rs 133.00 and Rs 134.00, as compared to overnight closing of Rs 132.50 and Rs 133.50, respectively, the dealers added.
The dollar resumed trading at Rs 85.50 (buying) and Rs 85.80 (selling) against 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 85.50 (buying) and Rs 85.80 (selling).
Pound sterling opened at Rs 136.30 (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 136.30 (buying) and Rs 136.70 (selling).