Some little changes were seen on the money market on Tuesday as the dollar's supply matched with the rising demand by the importers, dealers said. The rupee moved slightly after picking one paisa against dollar for buying and selling at 85.63 and 85.68, they said.
This puts the Fed at odds with other major central banks, which are starting to worry about rising price pressure, and reinforces the view that the European Central Bank will probably hike rates before the Fed.
The dollar index, which tracks its performance against a basket of major currencies, edged up 0.1 percent to 76.948, but still remained close to a 3-1/2 month low of 76.756 hit on Monday. Indian rupee was trading at Rs 45.11 versus dollar, Malaysian ringgit was available at 3.0385 in relation to the US currency and Chinese yuan was at 6.5703 in terms of the greenback.
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Open Buying Rs 85.65
Open Selling Rs.85.80
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Buying Rs.85.63
Selling Rs.85.68
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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 12.50 13.15 12.60 13.25 12.88
1-Week 11.70 12.85 12.80 12.90 12.56
2-Week 11.80 12.85 12.75 12.90 12.58
1-Month 12.05 12.90 12.90 13.00 12.71
2-Months 12.50 13.15 13.15 13.25 13.01
3-Months 12.90 13.20 13.20 13.30 13.15
4-Months 13.00 13.30 13.25 13.35 13.23
5-Months 13.20 13.45 13.40 13.50 13.39
6-Months 13.35 13.50 13.45 13.55 13.46
9-Months 13.40 13.60 13.50 13.65 13.54
1-Year 13.45 13.60 13.55 13.65 13.56
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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 12.50 13.15 12.60 13.25 12.88
1-Week 12.00 12.90 12.85 13.00 12.69
2-Week 12.40 13.10 13.00 13.20 12.93
1-Month 12.60 13.20 13.00 13.30 13.03
2-Months 12.90 13.40 13.30 13.50 13.28
3-Months 13.10 13.60 13.40 13.70 13.45
4-Months 13.25 13.65 13.45 13.75 13.53
5-Months 13.40 13.70 13.50 13.75 13.59
6-Months 13.50 13.75 13.70 13.90 13.71
9-Months 13.60 13.80 13.75 13.95 13.78
1-Year 13.50 13.90 13.80 14.00 13.80
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According to the currency dealers, the dollar resumed trading at overnight closing of Rs 85.40 and Rs 85.70, as its buying and selling rates, respectively. Because of weak supply, the dollar moved up on buying side and ended at Rs 85.50, while its selling rates remained intact at last day closing of Rs 85.70, the dealers said.
The rupee also maintained downward slide and further declined against the pound sterling. The pound's buying and selling rates were increased to Rs 138.50 and Rs 139.00, as compared to previous closing of Rs 137.50 and Rs 138.50, respectively, they added.
The dollar opened at Rs 85.90 (buying) and Rs 86.20 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 85.90 (buying) and Rs 86.20 (selling).
Pound Sterling opened at Rs 136.35 (buying) and Rs 136.75 (selling) against the previous rate. It did not witness any change in the evening session and closed at Rs 136.35 (buying) and Rs 136.75 (selling).