Rates moved both ways on the currency market on Friday in process of trading, dealers said. The rupee rose by 17 paisa in relation to dollar for buying at 86.58 and picked up 18 paisa for selling at 86.62, they said.
The deal included an agreement that private banks and insurers would accept 50 percent losses on their Greek debt holdings, leveraging of the EU bailout fund and recapitalisation of its banks. While the agreement is unlikely to solve all Europe's financial problems, the clear signs of progress, combined with healthy US third-quarter GDP, changed the outlook for the dollar to strongly bearish and to more upbeat for riskier currencies.
The yuan ended up against dollar on Friday, with the central bank setting a record high mid-point after dollar index slumped following a European debt deal, which sparked a massive relief rally in risk assets. The dollar versus the Indian rupee was available at Rs 48.89 and against the Malaysian ringgit it was trading at 3.0770.
========================
Open Buying Rs 86.58
Open Selling Rs 86.62
========================
========================
Buying Rs 86.90
Selling Rs 87.20
========================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 10.75 11.80 11.25 11.90 11.43
1-Week 11.25 11.65 11.60 11.70 11.55
2-Week 11.40 11.70 11.65 11.75 11.63
1-Month 11.60 11.70 11.70 11.80 11.70
2-Months 11.65 11.75 11.80 11.85 11.76
3-Months 11.65 11.75 11.80 11.85 11.76
4-Months 11.65 11.80 11.80 11.85 11.78
5-Months 11.65 11.80 11.80 11.85 11.78
6-Months 11.65 11.80 11.80 11.85 11.78
9-Months 11.70 11.80 11.80 11.85 11.79
1-Year 11.75 11.85 11.85 11.90 11.84
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 10.75 11.80 11.25 11.90 11.43
1-Week 11.40 11.70 11.65 11.80 11.64
2-Week 11.50 11.75 11.70 11.80 11.69
1-Month 11.60 11.80 11.75 11.85 11.75
2-Months 11.75 11.85 11.85 11.90 11.84
3-Months 11.80 11.90 11.90 11.95 11.89
4-Months 11.80 11.90 11.90 11.95 11.89
5-Months 11.80 11.90 11.90 12.00 11.90
6-Months 11.85 11.95 11.95 12.00 11.94
9-Months 11.85 12.00 12.00 12.10 11.99
1-Year 11.90 12.00 12.10 12.15 12.04
=================================================================
According to the currency dealers, the dollar resumed trading at its Thursday closing of Rs 87.00 and Rs 87.20 on the buying and selling side, respectively. The dollar witnessed no change in its buying rate, while it was appreciated on the selling side and was closed higher at Rs 87.30.
On the contrary, the rupee failed to maintain upward slide and remained under pressure against the pound sterling. The pound was purchased and sold at Rs 138.30 and Rs 139.00, as compared to overnight closing of Rs 137.50 and Rs 138.50, respectively, the dealers said.
The dollar opened at Rs 87.60 (buying) and Rs 88.05 (selling) against the last rate. It did not observe further change in the second session and closed at Rs 87.60 (buying) and Rs 88.05 (selling).
Pound Sterling opened at Rs 137.80 (buying) and Rs 137.90 (selling) against the overnight value. It did not observe further change in the evening session and closed at Rs 137.80 (buying) and Rs 137.90 (selling).