Bearish sentiment was again witnessed on the currency market on Wednesday as the rupee continued its fall versus dollar, dealers said. The rupee shed four paisa in relation to dollar for buying at 85.74 and three paisa for selling at 85.78, they said.
INTERBANK MARKET RATES: In the third Asian trade, the dollar held firm, bolstered by further evidence that the US economic recovery was becoming self-sustaining, while a correction in high-flying commodity prices pressured the Australian dollar. Market players said that dollar's rise and drop in commodities during the week was driven by position unwinding, with investors trimming back some of the bets made before the year-end.
Indian rupee dropped to its lowest level as dollar climbed broadly against major currencies and Asian peers, while a shaky shares market added to the downbeat mood. At 10:22 am (0452 GMT), the rupee was at 45.20/21 per dollar, after hitting 45.26, its weakest since Dec 27 and 0.5 percent below its close of 44.98/99 on Tuesday. Malaysian ringgit was trading at 3.0645 in terms of dollar and Chinese yuan was available at 6.620.
OPEN MARKET RATES: The rupee slipped by five paisa against dollar for buying at 85.70 and 10 paisa for selling at 85.90, dealers said. The rupee, however, gained versus euro by 99 paisa for buying and selling at Rs 113.10 and Rs 113.60, they said.
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Open Buying Rs 85.70
Open Selling Rs 85.90
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
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Buying Rs.85.74
Selling Rs.85.78
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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 12.75 13.90 13.00 13.90 13.39
1-Week 11.65 13.00 12.90 13.10 12.66
2-Week 11.70 12.95 12.90 13.00 12.64
1-Month 12.00 12.90 12.85 12.95 12.68
2-Months 12.25 13.05 12.90 13.15 12.84
3-Months 12.65 13.10 13.10 13.20 13.01
4-Months 12.70 13.15 13.10 13.25 13.05
5-Months 12.75 13.20 13.20 13.35 13.13
6-Months 13.05 13.30 13.25 13.40 13.25
9-Months 13.10 13.40 13.30 13.60 13.35
1-Year 13.25 13.50 13.40 13.60 13.44
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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 12.75 13.90 13.00 13.90 13.39
1-Week 12.40 13.10 12.95 13.15 12.90
2-Week 12.45 13.00 12.95 13.10 12.88
1-Month 12.50 13.00 13.00 13.10 12.90
2-Months 12.75 13.25 13.25 13.40 13.16
3-Months 12.80 13.40 13.25 13.50 13.24
4-Months 12.90 13.50 13.30 13.60 13.33
5-Months 13.00 13.50 13.40 13.75 13.41
6-Months 13.10 13.60 13.40 13.90 13.50
9-Months 13.25 13.60 13.50 13.90 13.56
1-Year 13.25 13.75 13.60 14.00 13.65
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RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee-dollar parity remained unchanged at the currency markets of Islamabad and Rawalpindi on Wednesday.
The dollar resumed trading at Rs 85.55 (buying) and Rs 85.80 (selling) against last rate of Rs 86.20 (buying) and Rs 86.30 (selling). It did not observe further change in the evening session and closed at Rs 85.55 (buying) and Rs 85.80 (selling).
Pound sterling opened at Rs 136.20 (buying) and Rs 136.70 (selling) in the morning session. It did not observe further change in the last trading hours and closed at Rs 136.20 (buying) and Rs 136.70 (selling).
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