THE RUPEE: dollar moves both ways

05 Feb, 2011

Rates moved both ways against dollar on the currency market on Friday ahead of long weekend on account of Kashmir Day holiday on Saturday, dealers said. The rupee almost retained its overnight levels against dollar for buying and selling at 85.49 and at 85.54, they said.
Trichet, speaking after the ECB's decision to keep rates at a record low one percent on Thursday, said inflation expectations remain "firmly anchored" and inflationary pressures over the medium to long term "should remain contained". The Indian rupee weakened on Friday tracking choppy domestic shares and the euro's drop against dollar, and is expected to move in a narrow band with most Asian markets closed for the Lunar New Year holiday.
At 11:10 am (0540 GMT), the partially convertible rupee was at 45.6425/6500 per dollar, weaker than its 45.60/61 close on Thursday.
It is likely to move in 45.60-45.80 band intraday, dealers said, adding dollar sales from foreign funds would also weigh.


=========================
Open Buying Rs 85.49
Open Selling Rs 85.54
=========================


=========================
Buying Rs 85.70
Selling Rs 85.90
=========================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 11.25 12.25 11.50 12.40 11.85
1-Week 11.50 12.45 12.25 12.50 12.18
2-Week 11.60 12.70 12.70 12.75 12.44
1-Month 11.85 12.80 12.75 12.85 12.56
2-Months 12.40 13.15 13.15 13.25 12.99
3-Months 12.90 13.25 13.20 13.30 13.16
4-Months 13.00 13.30 13.25 13.35 13.23
5-Months 13.20 13.45 13.40 13.50 13.39
6-Months 13.35 13.50 13.45 13.55 13.46
9-Months 13.40 13.60 13.50 13.65 13.54
1-Year 13.45 13.60 13.55 13.65 13.56
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 11.25 12.25 11.50 12.40 11.85
1-Week 12.00 12.50 12.50 12.55 12.39
2-Week 12.25 12.75 12.70 12.80 12.63
1-Month 12.40 12.95 12.90 13.00 12.81
2-Months 12.75 13.30 13.25 13.35 13.16
3-Months 13.00 13.40 13.30 13.50 13.30
4-Months 13.10 13.65 13.45 13.75 13.49
5-Months 13.20 13.70 13.50 13.75 13.54
6-Months 13.30 13.75 13.65 13.90 13.65
9-Months 13.30 13.75 13.70 13.90 13.66
1-Year 13.40 13.80 13.75 13.90 13.71
=================================================================

According to the currency dealers, the dollar's diminishing demand helped rupee appreciation in the open market. The dollar commenced trading at its overnight closing of Rs 85.60 and Rs 85.90 on buying and selling sides respectively. At the end of trading, the dollar's buying rate remained intact at Rs 85.60, while its selling rate was moved down from Rs 85.90 to Rs 85.80, the dealers added.
Likewise, rupee also maintained upward slide and appreciated its worth against the British pound. The pound's buying and selling rates declined to Rs 137.20 and Rs 138.00, as compared to previous closing of Rs 137.20 and Rs 138.50, respectively, the dealers said.
The dollar opened at Rs 85.90 (buying) and Rs 86.10 (selling) against same last rates. It did not observe further change in the evening session and closed at Rs 85.90 (buying) and Rs 86.10 (selling).
Pound sterling opened at Rs 136.30 (buying) and Rs 136.70 (selling) against same previous rates. It did not witness any change in the evening session and closed at Rs 136.30 (buying) and Rs 136.70 (selling).

Read Comments