All-round decline was seen on the currency market on Wednesday as the dollar supply was tight amid rising demand by importers to meet the payments, dealers said. The rupee failed to retain its gains versus dollar, losing 21 paisa for buying and selling at 84.90 and 84.95, market-men said.
The risk-sensitive euro and Australian dollar dropped briefly after data showing Chinese industrial production and retail sales fell short of market expectations, but they quickly pared losses as China shares recovered. The yuan finished down against dollar on Wednesday, but traded firmer than the record high mid-point set by the People's Bank of China on expectations it may continue its ascent after stronger-than-expected inflation.
Indian rupee was trading at Rs 44.74 versus dollar and Malaysian ringgit was at 2.9795 in terms of the US currency.
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Open Buying Rs 84.90
Open Selling Rs.85.05
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Buying Rs.84.90
Selling Rs.84.95
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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 11.90 11.15 12.00 11.54
1-Week 11.40 12.10 12.10 12.15 11.94
2-Week 11.50 12.30 12.25 12.40 12.11
1-Month 11.75 12.70 12.65 12.75 12.46
2-Months 12.40 12.90 12.85 13.00 12.79
3-Months 12.75 12.90 12.95 13.05 12.91
4-Months 12.90 13.00 13.00 13.20 13.03
5-Months 13.00 13.35 13.25 13.40 13.25
6-Months 13.20 13.35 13.30 13.40 13.31
9-Months 13.25 13.50 13.50 13.60 13.46
1-Year 13.40 13.60 13.50 13.65 13.54
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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 11.90 11.15 12.00 11.54
1-Week 11.75 12.20 12.15 12.25 12.09
2-Week 12.00 12.45 12.30 12.50 12.31
1-Month 12.40 12.85 12.75 12.90 12.73
2-Months 12.90 13.00 13.10 13.20 13.05
3-Months 13.10 13.25 13.20 13.35 13.23
4-Months 13.10 13.35 13.25 13.45 13.29
5-Months 13.25 13.45 13.35 13.55 13.40
6-Months 13.30 13.50 13.40 13.60 13.45
9-Months 13.50 13.65 13.60 13.70 13.61
1-Year 13.50 13.75 13.60 13.85 13.68
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According to the currency dealers, the dollar commenced trading at its overnight closing of Rs 84.70 and Rs 84.95, as its buying and selling rates, respectively. The dollar witnessed marginal increase in its demand that helped its appreciation against the rupee. At the end of trading, the dollar was closed at Rs 84.75 and Rs 85.00 on buying and selling sides, respectively, the dealers said.
Similarly, the rupee remained under pressure and further declined against the pound sterling. The pound's buying and selling rates were increased from Tuesday closing of Rs 138.80 and Rs 139.40 to Rs 139.30 and Rs 140.00, respectively, the dealers added.
The dollar resumed trading at Rs 84.40 (buying) and Rs 85.00 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 84.40 (buying) and Rs 85.00 (selling).
Pound Sterling opened at Rs 136.50 (buying) and Rs 137.50 (selling) against the previous rate. It did not witness any change in the evening session and closed at Rs 136.50 (buying) and Rs 137.50 (selling).