Pressure buying of dollars forced the rupee to surrender its gains versus the US currency and euro on the money market on Tuesday, dealers said. The rupee fell sharply against dollar, losing 27 paisa for buying at 85.78 and it also shed 26 paisa for selling at 85.82, they said.
The euro faced renewed selling after euro zone finance ministers made no firm decisions on Monday regarding possible additional measures to quell a sovereign debt crisis that has forced Greece and Ireland to take bailouts put nations such as Portugal and Spain under heavy pressure.
Indian rupee was available at Rs 45.52 versus dollar, Malaysian ringgit was at 3.0575 against the US currency and Chinese Yuan was trading at 6.590 in terms of the greenback.
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Open Buying Rs 85.78
Open Selling Rs 85.82
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Buying Rs 86.15
Selling Rs 86.30
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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 13.25 12.60 13.30 12.85
1-Week 11.55 12.90 12.85 12.95 12.56
2-Week 11.65 12.90 12.90 13.00 12.61
1-Month 11.90 12.95 12.90 13.00 12.69
2-Months 12.40 13.10 13.00 13.20 12.93
3-Months 12.80 13.15 13.15 13.30 13.10
4-Months 12.90 13.20 13.20 13.30 13.15
5-Months 13.00 13.25 13.25 13.40 13.23
6-Months 13.25 13.45 13.30 13.50 13.38
9-Months 13.25 13.60 13.60 13.75 13.55
1-Year 13.35 13.65 13.70 13.80 13.63
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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 12.30 13.25 12.60 13.30 12.86
1-Week 12.25 13.10 12.95 13.20 12.88
2-Week 12.35 13.15 13.00 13.25 12.94
1-Month 12.40 13.20 12.95 13.25 12.95
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 13.65 13.90 13.64
9-Months 13.30 13.75 13.70 13.90 13.66
1-Year 13.40 13.80 13.75 13.90 13.71
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According to the currency dealers, the dollar showed strength and recovered its earlier loss on account of increasing demand. The dollar was purchased and sold at Rs 86.20 and Rs 86.40, as compared to overnight closing of Rs 86.10 and Rs 86.30, respectively, they added.
The pound sterling maintained upward trend and appreciated its worth in the local market. The pound was purchased and sold at Rs 136.50 and Rs 137.50, as compared to overnight closing of Rs 135.50 and Rs 136.00, respectively, the dealers said.
The dollar resumed trading at Rs 85.60 (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 85.60 (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).