Steady trend was seen on the money market on Thursday as the rupee retained its levels in relation to dollar, dealers said. The rupee maintained its overnight levels in terms of dollar for buying and selling at 84.50 and 84.55, they said. In the fourth Asian trade dollar sank to a three-year low against a basket of currencies on Thursday and was at risk of a drop to $1.50 versus euro, with momentum-driven investors piling on in anticipation US interest rates will be low for a long time.
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Open Buying Rs 84.40
Open Selling Rs 84.60
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Buying Rs.84.50
Selling Rs.84.55
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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 11.25 13.05 11.50 13.10 12.23
1-Week 11.40 12.60 12.50 12.65 12.29
2-Week 11.60 12.65 12.60 12.70 12.39
1-Month 11.75 12.80 12.80 12.85 12.55
2-Months 12.40 13.10 13.00 13.15 12.91
3-Months 12.90 13.15 13.15 13.20 13.10
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
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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 11.25 13.10 11.50 13.20 12.26
1-Week 12.00 12.65 12.50 12.70 12.46
2-Week 12.20 12.70 12.60 12.75 12.56
1-Month 12.50 12.85 12.75 12.95 12.76
2-Months 13.00 13.20 13.20 13.30 13.18
3-Months 13.10 13.30 13.30 13.40 13.28
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
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According to the currency dealers, the dollar remained under selling pressure that helped rupee recovery in the open market. At the end of trading, the dollar was closed lower at Rs 84.35 and Rs 84.55, as its buying and selling rates against the Wednesday closing of Rs 84.50 and Rs 84.70, respectively.
However, because of continued demand for the British pound, the rupee maintained downward slide and further declined against the pound sterling. The pound's buying and selling rates were increased from overnight closing of Rs 139.15 and Rs 139.65 to Rs 139.80 and Rs 140.70, respectively, the dealers said.
The dollar resumed trading at Rs 84.80 (buying) and Rs 85.20 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 84.80 (buying) and Rs 85.20 (selling).
Pound Sterling opened at Rs 136.15 (buying) and Rs 137.15 (selling) against same previous rate. It did not witness any change in the evening session and closed at Rs 136.15 (buying) and Rs 137.15 (selling).