The dollar and euro were higher on the currency market on Wednesday in process of trading, dealers said. The rupee could not come out of the weak spells as dollar tended higher due to strong demand by importers, marketmen said.
Reuters adds: in the third Asian session euro clawed higher and stayed above a one-week low hit the previous day, with markets cautiously optimistic that European leaders will take decisive action to contain the region's debt crisis at a summit later this week. The euro rose 0.3 percent to $1.3435, hovering above Tuesday's low near $1.3334. There was talk of light stop-loss bids in euro at $1.3470 and also near $1.3500. The dollar was trading versus the Indian rupee at Rs 51.43, it was at 3.1230 in relation to the Malaysian ringgit and the US currency was at 6.3528 in terms of the Chinese yuan.
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Open Buying Rs 89.50
Open Selling Rs 89.80
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Buying Rs 89.40
Selling Rs.89.45
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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 11.90 11.90 11.90 11.90 11.90
1-Week 11.80 11.90 11.90 11.90 11.88
2-Week 11.80 11.90 11.85 11.90 11.86
1-Month 11.70 11.85 11.85 11.90 11.83
2-Months 11.70 11.85 11.85 11.90 11.83
3-Months 11.70 11.80 11.80 11.85 11.79
4-Months 11.70 11.75 11.80 11.85 11.78
5-Months 11.70 11.80 11.80 11.85 11.79
6-Months 11.65 11.75 11.80 11.85 11.76
9-Months 11.70 11.85 11.85 11.90 11.83
1-Year 11.70 11.85 11.85 11.90 11.83
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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 11.90 11.90 11.90 11.95 11.91
1-Week 11.85 11.95 11.90 12.00 11.93
2-Week 11.85 11.95 11.90 12.00 11.93
1-Month 11.80 11.90 11.85 12.00 11.89
2-Months 11.80 11.90 11.85 12.00 11.89
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 11.85 11.90 11.90 12.00 11.91
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
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According to dealers, the dollar resumed traded at last Saturday]s Rs 89.50 and Rs 90.00 as buying and selling rates, and closed lower at Rs 89.20 as its buying rate and its selling rate remained intact at Rs 90.00. The rupee also remained unchanged on buying side but declined on the selling side against pound sterling. The pound was purchased and sold at Rs 138.30 and Rs 139.00 respectively. Some dealers quoted Rs 138.20 and Rs 139.20 as buying and selling rates, respectively.