Sharp rise was seen on the currency market on Thursday owing to increase in dollars' supply, which eased the pressure over the rupee, dealers said. The rupee retained its overnight gains versus the dollar, rising further by 34 paisa for buying at 86.20 and picked up 33 paisa for selling at 86.25, they said.
Japanese Finance Minister Yoshihiko Noda confirmed that Tokyo had intervened in the currency market, adding that Japan had intervened by itself and that Japan was communicating with other countries on the move. Indian rupee was trading at Rs 44.31 versus dollar, Malaysian ringgit was at 2.9715 in terms of the US currency and Chinese yuan was available at 6.436 in relation to the greenback.
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Open Buying Rs 86.00
Open Selling Rs 86.20
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Buying Rs 86.20
Selling Rs.86.25
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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 13.40 13.40 13.40 13.45 13.41
1-Week 13.00 13.20 13.25 13.30 13.19
2-Week 13.00 13.20 13.20 13.25 13.16
1-Month 12.85 13.15 13.15 13.20 13.09
2-Months 12.90 13.20 13.15 13.25 13.13
3-Months 12.95 13.20 13.20 13.25 13.15
4-Months 13.00 13.15 13.20 13.25 13.15
5-Months 13.00 13.20 13.20 13.30 13.18
6-Months 13.00 13.20 13.20 13.30 13.18
9-Months 13.10 13.25 13.25 13.35 13.24
1-Year 13.15 13.30 13.30 13.40 13.29
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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 13.40 13.40 13.40 13.45 13.41
1-Week 13.00 13.25 13.25 13.30 13.20
2-Week 13.00 13.25 13.25 13.30 13.20
1-Month 13.00 13.20 13.20 13.25 13.16
2-Months 13.00 13.25 13.20 13.30 13.19
3-Months 13.05 13.25 13.20 13.30 13.20
4-Months 13.10 13.30 13.25 13.35 13.25
5-Months 13.10 13.30 13.30 13.35 13.26
6-Months 13.15 13.35 13.30 13.40 13.30
9-Months 13.15 13.35 13.35 13.40 13.31
1-Year 13.15 13.40 13.40 13.50 13.36
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According to the currency dealers, the dollar's demand could not remain intact that pushed its value down against the rupee. The dollar was traded at Rs 86.00 and Rs 86.20, as its buying and selling rates, against the Wednesday closing of Rs 86.10 and Rs 86.30, respectively.
Similarly, the rupee recovered its day earlier loss and appreciated its worth against the British pound. The pound's buying and selling rates were declined from overnight closing of Rs 140.80 and Rs 141.50 to Rs 140.30 and Rs 141.00 respectively, the dealers said.
The dollar resumed trading at Rs 86.00 (buying) and Rs 86.30 (selling) against the last rate. 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 the overnight value. It did not observe further change in the evening session and closed at Rs 138.30 (buying) and Rs 138.45 (selling).