Higher demand for dollar, pushed into the negative territory on the currency market on Monday, dealers said. The rupee could not maintain its upward journey on the face of rising demand for dollar, losing six paisa for buying and selling at 89.11 and 89.16, dealers said.
Reuters adds: In the first Asian trade, euro slipped and was expected to struggle going into the year-end after the European Union agreed on deeper economic integration but fell short of a convincing plan to deal a decisive blow to the region's debt woes. The currency fell to a session low of $1.3334 after Moody's ratings agency said the two-year-old crisis is still in a "critical" and "volatile" stage, adding that the region is prone to further shocks and faces rising threats to cohesion. The dollar was trading at Rs 52.40 in terms of the Indian rupee, versus the Malaysian ringgit it was available at 3.1520 per unit and the greenback was at 6.360 in relation to the Chinese yuan.
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Open Buying Rs 89.11
Open Selling Rs 89.16
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Buying Rs 89.00
Selling Rs 89.30
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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 9.00 11.90 9.10 11.90 10.48
1-Week 11.20 11.80 11.40 11.90 11.58
2-Week 11.60 11.85 11.70 11.90 11.76
1-Month 11.65 11.85 11.75 11.90 11.79
2-Months 11.70 11.85 11.80 11.90 11.81
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 9.00 11.90 9.10 11.90 10.48
1-Week 11.50 11.90 11.40 12.00 11.70
2-Week 11.70 11.95 11.75 12.10 11.88
1-Month 11.75 11.95 11.90 12.10 11.93
2-Months 11.80 11.90 11.85 12.00 11.89
3-Months 11.80 11.90 11.85 11.95 11.88
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 the currency dealers, the dollar commenced trading at its Saturday closing of Rs 88.50 and Rs 89.10 on buying and selling counters, respectively. The dollar witnessed fresh demand that pushed down the rupee value in the open market. At the end of trading, the dollar was closed at Rs 88.80 and Rs 89.20 as its buying and selling rates, respectively, the dealers said.
On the contrary, the rupee showed strength and appreciated its worth against the British pound. The pound's buying and selling rates were slide down from the previous closing of Rs 138.10 and Rs 139.00 to Rs 137.80 and Rs 138.80, respectively, the dealers added.
The dollar opened at Rs 87.60 (buying) and Rs 88.05 (selling) against same last rates. 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 same overnight values. It did not observe further change in the evening session and closed at Rs 137.80 (buying) and Rs 137.90 (selling).