The rupee maintained its firmness versus dollar in the interbank market on Tuesday for buying and selling at 59.45 and 59.50, respectively. The local currency gained strength on easy supply of dollars, analysts said.
Trade deficit widened to $1.091 billion in November from $591.04 million in October, and compares with a deficit of 129.93 million dollars in November 2003.
The Federal Bureau of Statistics data said the cumulative trade deficit from July through November was $2.511 billion, compared with $444.65 million gap in the same period a year earlier.
They said that the single European currency continuously surged in the world markets after touching the new high of $1.3467.
The rupee held to its overnight levels of Rs 59.90 and Rs 59.95 for a dollar, they added
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Kerb buying Rs 59.90
Kerb selling Rs 59.95
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Buying Rs 59.45
Selling Rs 59.50
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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 0.50 1.50 1.00 2.50 1.38
1-Week 1.50 1.75 2.00 2.25 1.88
2-Week 3.00 3.25 3.50 3.75 3.38
1-Month 3.50 3.75 4.00 4.50 3.94
2-Months 4.00 4.25 4.75 5.25 4.56
3-Months 4.00 4.50 4.75 5.20 4.61
4-Months 4.20 4.60 4.80 5.25 4.71
5-Months 4.25 4.70 4.90 5.30 4.79
6-Months 4.40 5.00 4.80 5.50 4.93
9-Months 4.60 5.00 5.00 5.40 5.00
1-Year 4.80 5.20 5.20 5.60 5.20
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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 1.00 2.00 1.50 3.00 1.88
1-Week 1.75 2.00 2.50 3.00 2.31
2-Week 3.25 3.50 3.75 4.00 3.63
1-Month 5.00 5.25 5.50 5.75 5.38
2-Month 4.75 5.00 5.25 5.50 5.13
3-Month 5.50 5.75 6.00 6.50 5.94
4-Month 5.00 5.25 5.50 5.75 5.38
5-Month 5.25 5.50 5.75 6.00 5.63
6-Month 5.50 5.75 6.00 6.50 5.94
9-Month 5.75 6.00 6.25 6.50 6.13
1-Year 6.00 6.25 6.50 6.75 6.38
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According to the currency dealers, the dollar resumed trading at overnight closing rates of Rs 60.00 and Rs 60.10 on buying and selling counters, respectively. Soon after the commencement of trading, it witnessed selling pressure, which pushed its worth down. At the close, the dollar was traded at Rs 59.95 and Rs 60.05 on buying and selling sides, respectively, they added.
On the contrary, the rupee showed weakness and further depreciated its value in relation to the pound sterling. The pound's buying rate improved from Monday's closing rate of Rs 115.60 to Rs 116.10, while selling rate increased to Rs 116.40 from Rs 116.00, the dealers said.
The dollar opened at Rs 59.90 (buying) and Rs 60 (buying) against the same last rate. It did not observe any further change in the second session, and closed at Rs 59.90 (buying) and Rs 60 (buying).
Pound sterling opened at Rs 116 (buying) and Rs 116.20 (selling) against the last rate of Rs 115.80 (buying) and Rs 115.90. It did not observe any further change in the evening session, and closed at Rs 116 (buying) and Rs 116.20 (selling).
Canadian dollar opened at Rs 49.80 (buying) and Rs 50 (selling) against the last rate of Rs 50.10 (buying) and Rs 50.20 (selling). It did not observe any further change in the second spell, and closed at Rs 49.80 (buying) and Rs 50 (selling).