Persisted fall in the value of the rupee, indicating that the national currency may hit the low level at 87 versus dollar in the near future, dealers said on Wednesday. The rupee shed 15 paisa in relation to dollar for buying at 86.89 and lost 14 paisa for selling at 86.93, they said.
In the third Asian trade euro slipped to a fresh one-month low against dollar and the yen on Wednesday as the euro zone debt crisis threatened to engulf top-rated members such as France, as government bonds of core countries came under pressure.
The common currency fell as far as $1.3437, its lowest level in more than a month, after the French bond yield spread over benchmark, German bunds hit euro-era highs near 200 basis points and the spread of triple-A rated Austria also shot up. Italian yields spiked back above the critical seven percent level as the appointment of former EU Commissioner Mario Monti to head a new government failed to quell concerns over the country's long-term political and economic future.
Short-covering lifted dollar/ringgit to above a strong resistance at 3.1600, which was capped last month. The pair is seen heading to 3.1724, the 76.4 percent Fibonacci retracement of its October slide. "The 3.16 looked to have turned to a support as long as the euro stays under 1.35," said a senior dealer for a Malaysian bank in Kuala Lumpur. The yuan ended little changed against dollar on Wednesday, after the People's Bank of China set a weaker mid-point and dollar index hit a one-month high as the euro zone debt crisis threatened to engulf top-rated members. The dollar war trading versus the Indian rupee Rs 50.89.

========================
Open Buying     Rs 86.40
Open Selling    Rs.86.70
========================

========================
Buying          Rs.86.89
Selling         Rs.86.93
========================

=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor       Low Bid   High Bid   Low Offer   High Offer   Average
=================================================================
Overnight     9.00       9.50        9.10        9.75        9.34
1-Week       11.00      11.40       11.40       11.60       11.35
2-Week       11.40      11.60       11.65       11.70       11.59
1-Month      11.50      11.65       11.70       11.75       11.65
2-Months     11.65      11.75       11.75       11.80       11.74
3-Months     11.65      11.75       11.75       11.80       11.74
4-Months     11.65      11.75       11.75       11.85       11.75
5-Months     11.65      11.75       11.75       11.85       11.75
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     9.00       9.60        9.10        9.75        9.36
1-Week       11.30      11.65       11.50       11.75       11.55
2-Week       11.50      11.75       11.75       11.80       11.70
1-Month      11.70      11.85       11.80       12.00       11.84
2-Months     11.75      11.90       11.85       11.95       11.86
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
=================================================================