The rupee, somehow, managed to hold its most of gains in relation to dollar on the currency market on Monday, money experts said. The rupee rose by nine paisa in relation to dollar for buying 84.24 and gained 10 paisa for selling at 84.28, they said.
"We can see more short covering in USD/Asia though. EUR is looking tired abstracting from today's volatility, so I wouldn't be surprised to see more profit taking, particularly ahead of a shortened trading week," said Jonathan Cavenagh, currency strategist at Westpac in Singapore.
Still, the regional currencies are expected to remain in a bullish trend as central banks are likely to keep tightening policy to fight inflation, analysts and dealers said.
"As long as the euro's fall is not on extreme risk aversion that hurts all markets, I don't see why Asian currencies cannot continue to do well. I think the bullish trend can and should be maintained as inflation data from Friday shows why that is," said Sacha Tihanyi, a senior currency strategist at Scotia Capital in Hong Kong.
Indian rupee was available at Rs 44.33 versus dollar, Malaysian ringgit was trading at 3.0220 in terms of the greenback and the Chinese yuan was at 6.5299 in relation to the US currency.

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Open Buying     Rs 84.24
Open Selling    Rs 84.28
========================

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Buying          Rs 84.40
Selling         Rs 84.55
========================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor       Low Bid   High Bid   Low Offer   High Offer   Average
=================================================================
Overnight      12.00     12.75      12.35       13.00       12.53
1-Week         11.50     12.80      12.85       12.90       12.51
2-Week         11.60     12.90      12.90       13.00       12.60
1-Month        11.90     13.00      12.95       13.05       12.73
2-Months       12.40     13.10      13.15       13.20       12.96
3-Months       12.90     13.20      13.25       13.30       13.16
4-Months       13.00     13.25      13.30       13.35       13.23
5-Months       13.20     13.35      13.35       13.40       13.33
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      12.00     12.75     12.40        13.00       12.54
1-Week         12.25     12.90     12.90        13.00       12.76
2-Week         12.40     13.00     13.00        13.10       12.88
1-Month        12.70     13.15     13.10        13.25       13.05
2-Months       13.00     13.25     13.25        13.35       13.21
3-Months       13.10     13.35     13.30        13.45       13.30
4-Months       13.25     13.50     13.40        13.60       13.44
5-Months       13.40     13.60     13.45        13.65       13.53
6-Months       13.45     13.65     13.55        13.75       13.60
9-Months       13.50     13.70     13.60        13.75       13.64
1-Year         13.50     13.75     13.60        13.90       13.69
=================================================================