THE RUPEE: dollar gains

30 Jul, 2011

Rupee-dollar parity rates come down on the currency market on Friday owing to strong dollars' buying by importers to clear the overseas bills, dealers said. The rupee shed eight paisa versus dollar for buying at 86.53 and lost seven paisa for selling at 86.57, they said.
The euro relinquished earlier gains and was down about 0.5 percent at a session low of $1.4265 after Moody's said it may cut Spain's credit rating, fuelling fears about the euro zone's debt problems and weighing further on the Australian and New Zealand dollars
Urgent efforts to avoid an unprecedented US debt default hit another snag when conservative rebel Republican lawmakers refused to back a budget deficit plan proposed by their own leaders, who put off a vote scheduled for Thursday night.
"People got scared and they're selling the dollar its fall below 77.00 yen would pave the way to the record low of 76.25, heightening the possibility of the Bank of Japan stepping in with solo intervention," said a trader for a Japanese bank who did not want to be identified by name. Indian rupee was trading at Rs 44.08 versus dollar, Malaysian ringgit was available at 2.9530 in terms of the greenback and Chinese yuan was at 6.4435 in relation to dollar.


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Open Buying Rs 86.53
Open Selling Rs 86.57
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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 13.50 13.90 13.75 13.90 13.76
1-Week 13.25 13.70 13.65 13.75 13.59
2-Week 13.10 13.60 13.60 13.65 13.49
1-Month 13.15 13.50 13.50 13.55 13.43
2-Months 13.20 13.45 13.50 13.55 13.43
3-Months 13.15 13.45 13.45 13.50 13.39
4-Months 13.15 13.45 13.50 13.55 13.41
5-Months 13.20 13.50 13.50 13.60 13.45
6-Months 13.25 13.55 13.50 13.60 13.48
9-Months 13.30 13.65 13.65 13.75 13.59
1-Year 13.40 13.65 13.65 13.75 13.61
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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 13.50 13.90 13.80 13.90 13.78
1-Week 13.25 13.75 13.65 13.80 13.61
2-Week 13.20 13.65 13.65 13.70 13.55
1-Month 13.20 13.55 13.50 13.60 13.46
2-Months 13.25 13.50 13.50 13.60 13.46
3-Months 13.30 13.55 13.50 13.60 13.49
4-Months 13.30 13.50 13.50 13.65 13.49
5-Months 13.30 13.55 13.55 13.65 13.51
6-Months 13.30 13.60 13.50 13.65 13.51
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 dealers, the dollar commenced trading at overnight Rs 86.15 and Rs 86.35 as buying and selling rates, respectively, and declined to Rs 86.10 and Rs 86.30 on buying and selling sides, respectively.
However, the rupee declined on buying side while remaining unchanged on selling side in relation to pound sterling, wich was purchased and sold at Rs 140.00 and Rs 140.50 as compared to Rs 139.80 and Rs 140.50 respectively, dealers said.
The dollar opened at Rs 86.00 (buying) and Rs 86.30 (selling) against same last rates. It did not observe further change in the second session and closed at Rs 86.00 (buying) and Rs 86.30 (selling).
Pound sterling opened at Rs 138.30 (buying) and Rs 138.45 (selling) against same overnight values. It did not observe further change in the last trading hours and closed at Rs 138.30 (buying) and Rs 138.45 (selling).

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