Sliding trend was seen in the currency market on Tuesday as the rupee fell against both the US currency and euro, dealers said. In the interbank market, the rupee shed three paisa in terms of dollar for buying at Rs 60.36 and slid two paisa for selling at Rs 60.40, respectively.
Increased dollar demand pushed the rupee down against the greenback. The rupee may recover its lost ground if the supply improves in th coming days, money experts said. In the world market, dollar matched a 26-year low versus sterling and hung near a record low against euro as investors confident that US rates will remain steady flocked to currencies whose rates are expected to continue climbing.
Traders also sold dollar ahead of an upcoming US national holiday on concerns that the United States may be a target following an attack on Glasgow airport and foiled attempts to detonate car bombs in London late last week.
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KERB BUYING Rs 60.90
KERB SELLING Rs 60.99
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Buying Rs 60.39
Selling Rs 60.40
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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 8.10 9.40 8.30 9.40 8.80
1-Week 8.65 8.90 8.75 9.00 8.83
2-Weeks 8.65 8.90 8.75 9.00 8.83
1-Month 8.70 8.80 8.75 8.90 8.79
2-Months 8.70 8.90 8.80 9.00 8.85
3-Months 8.75 8.90 8.85 9.00 8.88
4-Months 8.80 9.00 8.85 9.05 8.93
5-Months 8.85 9.00 8.95 9.10 8.98
6-Months 8.85 9.10 8.95 9.10 9.00
9-Months 8.90 9.10 9.00 9.15 9.04
1-Year 8.90 9.10 9.10 9.25 9.09
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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 8.25 9.40 8.50 9.50 8.91
1-Week 8.90 9.25 9.10 9.40 9.16
2-Weeks 8.90 9.25 9.10 9.40 9.16
1-Month 9.00 9.25 9.10 9.50 9.21
2-Months 9.25 9.50 9.40 9.70 9.46
3-Months 9.25 9.60 9.40 9.75 9.50
4-Months 9.40 9.75 9.65 9.90 9.68
5-Months 9.50 9.75 9.75 10.00 9.75
6-Months 9.75 10.00 10.00 10.25 10.00
9-Months 10.00 10.25 10.25 10.50 10.25
1-Year 10.00 10.50 10.25 10.75 10.38
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According to the currency dealers, the dollar's trading commenced at Rs 61.00 and Rs 61.10 as its buying and selling rates, respectively. As a result of selling pressure, the dollar could not sustain and started declining. At the end of trading, the dollar moved down to Rs 60.90 and Rs 61.00 on buying and selling counters, respectively, the dealers added.
On the contrary, the local currency could not maintain upward slide and depreciated its worth against the pound sterling. The pound's buying rate improved from overnight closing rate of Rs 121.00 to Rs 121.50 while selling rate moved up from Rs 121.60 to Rs 121.80, the dealers added.
The dollar opened at Rs 60.90 (buying) and Rs 61 (selling) against same overnight value. It did not observe any change in the second session and closed at Rs 60.90 (buying) and Rs 61 (selling).
British pound resumed trading at Rs 120 (buying) and Rs 120.20 (selling) against same previous rate. It did not witness any change in the evening session and closed at Rs 120 (buying) and Rs 120.20 (selling).