As a result of strong demand for dollars by importers the rupee depreciated in relation to the US currency in interbank dealings on the currency market on Thursday, dealers said. The rupee dropped 11 paisa against dollar for buying at 86.79 and shed 10 paisa for selling at 85.82, they said.
In the fourth Asian trade euro dipped on profit-taking, after having extended its rally to a two-month high above $1.35 overnight, bringing a key technical level in focus that could throw a speed-bump in its path.
Disappointing earnings from Goldman Sachs and weak US housing data on Wednesday hit appetite for riskier assets, giving traders an excuse to book profits on the euro.
"The euro has actually had quite a strong move since the beginning of the year. So it's time for a pause and fall before it trades higher," said a trader for a European bank in Hong Kong. The euro eased 0.1 percent from late US trading on Wednesday to $1.3459. Indian rupee was trading at Rs 45.59 versus dollar and Chinese yuan was available at 6.5863 in terms of the greenback.
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Open Buying Rs 86.00
Open Selling Rs.86.10
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Buying Rs.85.79
Selling Rs.85.82
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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 11.05 11.90 11.10 12.00 11.51
1-Week 11.55 12.55 12.50 12.60 12.30
2-Week 11.65 12.70 12.65 12.80 12.45
1-Month 11.90 12.90 12.90 13.00 12.68
2-Months 12.40 13.10 13.00 13.20 12.93
3-Months 12.80 13.15 13.15 13.30 13.10
4-Months 12.90 13.20 13.20 13.30 13.15
5-Months 13.00 13.25 13.25 13.40 13.23
6-Months 13.25 13.45 13.30 13.50 13.38
9-Months 13.25 13.60 13.60 13.75 13.55
1-Year 13.35 13.65 13.70 13.80 13.63
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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 11.05 11.90 11.10 12.00 11.51
1-Week 12.25 12.60 12.55 12.70 12.53
2-Week 12.30 12.90 12.75 13.00 12.74
1-Month 12.40 13.10 12.90 13.20 12.90
2-Months 12.75 13.25 13.25 13.40 13.16
3-Months 12.90 13.40 13.25 13.50 13.26
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 13.30 13.70 13.65 13.90 13.64
9-Months 13.30 13.75 13.70 13.90 13.66
1-Year 13.40 13.80 13.75 13.90 13.71
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According to the currency dealers, the rupee was able to appreciate its worth against the dollar on account of decline in buying support. The dollar was purchased and sold at Rs 85.80 and Rs 86.20, as compared to its overnight closing rates of Rs 86.20 and Rs 86.40, respectively, the dealers said.
Likewise, the rupee showed strength and recovered some of its earlier loss against the pound sterling. The pound was traded at Rs 136.00 and Rs 137.00, as its buying and selling rates, as compared to Wednesday's closing of Rs 136.70 and Rs 137.50, respectively, they added.
The dollar resumed trading at Rs 85.60 (buying) and Rs 85.80 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 85.60 (buying) and Rs 85.80 (selling).
Pound Sterling opened at Rs 136.30 (buying) and Rs 136.70 (selling) against the previous rate. It did not witness any change in the evening session and closed at Rs 136.30 (buying) and Rs 136.70 (selling).