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Rupee gains 80 paisa against euro

26 Mar, 2004

The rupee on Thursday posted fresh gain of 80 paisa in relation to the euro in the open market for buying and selling at Rs 70.10 and Rs 70.40, respectively.
The single European currency was under pressure in the local markets after shedding its lustre in the world markets, dealers said, adding the euro declined sharply following the speculations that the European Central Bank might cut interest rate in the coming days.
The rupee did not show any major change versus the dollar in the open market for buying and selling at Rs 57.72 and Rs 57.77, respectively.
The dollar in the meantime lost its value in terms of the yen after positive economic data in Japan, they said.
The rupee inched up with a gain of two paisa in relation to the dollar for buying and selling at Rs 57.47 and Rs 57.48, respectively.

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Kerb Buying             Rs 57.72
Kerb Selling            Rs 57.77
================================

Interbank closing rates for dollar on Thursday.

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Buying                Rs 57.47
Selling               Rs 57.48
==============================
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Repo Rates (Yield p a)
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Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight   0.50       0.75       1.00        1.25           0.88
1-Week      1.20       1.45       1.70        1.95           1.58
2-Week      1.25       1.50       1.75        2.00           1.63
1-Month     1.30       1.50       1.50        1.75           1.51
2-Months    1.30       1.50       1.70        1.90           1.60
3-Months    1.30       1.50       1.40        1.60           1.45
4-Months    1.40       1.60       1.60        1.70           1.55
5-Months    1.50       1.50       1.70        1.80           1.65
6-Months    1.50       1.60       1.70        1.90           1.68
9-Months    2.00       2.20       2.40        2.40           2.30
1-Year      2.10       2.30       2.50        2.70           2.40
=================================================================
Call Rates (Yield p a)
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Tenor      Low Bid   High Bid   Low Offer   High Offer    Average
=================================================================
Overnight   0.75       1.00       1.25        1.50           1.13
1-Week      1.50       1.75       2.00        2.25           1.88
2-Week      1.30       1.60       1.80        2.10           1.70
1-Month     1.40       1.60       1.70        1.90           1.65
2-Month     1.50       1.70       1.90        2.10           1.80
3-Month     1.40       1.60       1.50        1.70           1.55
4-Month     1.50       1.70       1.90        2.10           1.80
5-Month     1.70       1.90       2.10        2.30           2.00
6-Month     1.60       1.80       1.90        2.20           1.88
9-Month     2.20       2.40       2.60        2.80           2.50
1-Year      2.30       2.50       2.70        2.90           2.60
=================================================================

The dollar commenced trading at overnight closing rates of Rs 57.75 and Rs 57.85 as its buying and selling rates, respectively. The opening rates continued to prevail throughout the day. Owing to lacking fluctuation in greenback's value, most of the investors remained on the sidelines. As a result, the trading volume remained considerably low, the currency dealers said.
On the contrary, the rupee registered improvement in its worth against the pound sterling. The pound's buying rate declined from previous closing rate of Rs 106.60 to Rs 105.00 while selling rate moved down from Rs 107.00 to Rs 105.50, the dealers added.
The dollar opened at Rs 57.70 (buying) and Rs 57.80 (selling) against the same last rates. It did not observe any further change in the evening session and closed at Rs 57.70 (buying) and Rs 57.80 (selling).
Pound sterling opened at Rs 104.50 (buying) and Rs 104.60 (selling) against the last rates of Rs 106 and Rs 106.20, respectively. It did not observe any further change in the second session and closed at Rs 104.50 (buying) and Rs 104.60 (selling).
Canadian dollar opened at Rs 43.20 (buying) and Rs 43.30 (selling) against the last rates of Rs 43.40 (buying) and Rs 43.50 (selling). It did not observe any further change in the evening session and closed at Rs 43.20 (buying) and Rs 43.30 (selling).

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