The rupee recovered on the currency market on Tuesday as demand was matching with supply in process of trading, dealers said. The rupee gained nine paisa against dollar for buying at 85.90 and rose by 11 paisa for selling at 85.93, they said.
The Australian dollar fell broadly after lower-than-expected consumer inflation data reinforced market expectations that Australia's central bank will be in no hurry to lift interest rates, though it cut much of its losses in late Asian trade.
The single currency last traded at $1.3650, having risen as high as $1.3685, just one pip off a two-month peak marked in New York on Monday.
The move brings into play the next major resistance level, at $1.3742, a 61.8 percent re-tracement of the Nov-Jan fall, and then the euro's November 22 high of $1.3786.
China's yuan steadied versus dollar, hovering near its record trading high, after the People's Bank of China set the mid-point at a new peak but up only slightly from Monday's fixing, traders said.
The Indian rupee strengthened, supported by euro's gains against dollar and firmer local stocks. At 10:30 am (0500 GMT), the partially convertible rupee was at 45.48/49 per dollar, 0.4 percent above its close of 45.67/68 on Monday.
The rupee continued its fall against euro for buying and selling at Rs 116.85 and Rs 117.35, they said.
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Buying Rs 85.90
Selling Rs 85.93
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Buying Rs 86.15
Selling Rs 86.30
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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 13.35 12.90 13.50 13.13
1-Week 11.60 12.85 12.85 12.90 12.55
2-Week 11.75 12.95 12.95 13.05 12.68
1-Month 11.90 13.00 12.95 13.05 12.73
2-Months 12.45 13.10 13.10 13.25 12.98
3-Months 12.90 13.25 13.20 13.40 13.19
4-Months 13.00 13.30 13.20 13.40 13.23
5-Months 13.10 13.35 13.25 13.50 13.30
6-Months 13.35 13.45 13.40 13.55 13.44
9-Months 13.40 13.60 13.60 13.75 13.59
1-Year 13.45 13.65 13.70 13.80 13.65
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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 13.40 12.90 13.50 13.14
1-Week 12.25 13.00 12.85 13.10 12.80
2-Week 12.30 13.10 13.00 13.25 12.91
1-Month 12.40 13.20 12.90 13.30 12.95
2-Months 12.75 13.30 13.25 13.40 13.18
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 moneychangers, the dollar's supply and demand situation remained intact to the last level that helped the local currency to maintain its worth. The dollar was traded at overnight closing rates of Rs 86.00 and Rs 86.20, as its buying and selling rates, respectively, they said.
On the other hand, the rupee showed strength against the pound sterling amid low trading activity. The pound was purchased and sold at Rs 136.00 and Rs 137.00, as compared to overnight closing of Rs 136.50 and Rs 137.50, respectively, they added.
The dollar resumed trading at Rs 85.90 (buying) and Rs 86.10 (selling) against the same last rate. It did not observe further change in the evening session and closed at Rs 85.90 (buying) and Rs 86.10 (selling).
Pound Sterling opened at Rs 136.30 (buying) and Rs 136.70 (selling) against the same previous rate. British currency did not witness any change in the evening session and closed at Rs 136.30 (buying) and Rs 136.70 (selling).