The rupee maintained its overnight gains against the US currency due to slight fall in stress over the dollar buying to cover forward requirements, dealers said on the money market on Friday. The rupee managed to recover further ground in relation to dollar, recovering 53 paisa for buying at 89.12 and picked up 56 paisa for selling at 89.14, they added.
Versus euro, the rupee was higher by 67 paisa for buying and selling at Rs 116.58 and Rs 117.08, they said.
Reuters adds: In the final Asian trade euro edged up on the US dollar in holiday-thinned Asian trade on Friday, but was still on track to end the year modestly lower as the European debt crisis looks set to last for many more months.
The single currency changed hands at $1.3063, from $1.3050 late in New York and well within the tight $1.3016/$1.3120 range of the past 36 hours.
The dollar versus the Indian rupee was available at Rs 52.73, against the Malaysian ringgit was at 3.1550, the greenback was trading in relation to the Chinese yuan at 6.3395.
========================
Open Buying Rs 89.12
Open Selling Rs 89.14
========================
========================
Buying Rs 89.30
Selling Rs 89.60
========================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 11.25 11.90 11.50 11.90 11.64
1-Week 11.60 11.75 11.70 11.80 11.71
2-Week 11.60 11.80 11.80 11.85 11.76
1-Month 11.65 11.85 11.80 11.90 11.80
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
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 11.25 11.90 11.50 11.90 11.64
1-Week 11.65 11.90 11.85 12.00 11.85
2-Week 11.70 11.95 11.90 12.00 11.89
1-Month 11.70 11.90 11.90 12.00 11.88
2-Months 11.70 11.90 11.85 12.00 11.86
3-Months 11.80 11.90 11.85 12.00 11.89
4-Months 11.80 11.90 11.90 12.00 11.90
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
=================================================================
According to the currency dealers, the dollar remained under pressure and could not sustain due to lacking declining demand. At the end of trading, the dollar was closed lower at Rs 89.20 and Rs 89.70 against the Thursday closing of Rs 89.70 and Rs 90.10, as its buying and selling rates, respectively.
Similarly, the rupee maintained upward trend and was further appreciated against the pound sterling. The pound's buying and selling rates were declined to Rs 139.30 and Rs 140.30, as compared to last day closing of Rs 140.40 and Rs 141.40, the dealers added.
The dollar resumed trading at Rs 89 (buying) and Rs 89.20 (selling) against same overnight value. It did not observe further change in the second session and closed at Rs 89 (buying) and Rs 89.20 (selling).
Pound Sterling opened at Rs 138 (buying) and Rs 138.90 (selling) against same last rate. It did not observe further change in the evening session and closed at Rs 138 (buying) and Rs 138.90 (selling).