The rupee managed to hold the overnight firmness against dollar and euro on the currency market on Friday, experts said. The rupee picked up seven paisa versus dollar for buying and selling at 85.63 and 85.67 despite the higher demand for the US currency, they said.
ECB President Jean-Claude Trichet signalled that the benchmark refinancing rate, now at 1.25 percent, would rise next month. But markets expected as much and had already priced in the prospect of a July rate hike.
The yuan closed down slightly versus dollar on Friday, consolidating its recent gains, as the People's Bank of China fixed the mid-point a shade weaker for the second day after letting it hit a slew of record highs recently.
Indian rupee was trading at Rs 44.73 in relation to dollar and Malaysian ringgit was at 3.0150 in terms of the greenback.
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Open Buying Rs 85.63
Open Selling Rs 85.67
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Buying Rs 85.65
Selling Rs 85.85
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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 12.00 12.75 12.25 13.00 12.50
1-Week 12.25 13.00 12.75 13.10 12.78
2-Week 12.50 13.00 12.90 13.10 12.88
1-Month 12.75 13.05 13.10 13.20 13.03
2-Months 12.80 13.20 13.20 13.30 13.13
3-Months 12.90 13.30 13.25 13.35 13.20
4-Months 13.00 13.35 13.30 13.40 13.26
5-Months 13.10 13.35 13.35 13.40 13.30
6-Months 13.25 13.45 13.40 13.50 13.40
9-Months 13.30 13.60 13.60 13.70 13.55
1-Year 13.40 13.65 13.65 13.75 13.61
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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 12.00 12.75 12.25 13.00 12.50
1-Week 12.40 13.00 12.80 13.10 12.83
2-Week 12.50 13.05 13.00 13.15 12.93
1-Month 12.90 13.25 13.25 13.30 13.18
2-Months 12.95 13.30 13.25 13.35 13.21
3-Months 13.10 13.35 13.30 13.40 13.29
4-Months 13.10 13.35 13.30 13.40 13.29
5-Months 13.25 13.50 13.40 13.60 13.44
6-Months 13.30 13.60 13.45 13.65 13.50
9-Months 13.50 13.70 13.60 13.75 13.64
1-Year 13.50 13.75 13.60 13.90 13.69
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According to the currency dealers, the dollar witnessed fresh demand that helped its appreciation in the open market. The dollar was closed at Rs 85.75 and Rs 85.95, as its buying and selling rates against Rs 85.70 and Rs 85.90 of Thursday, respectively.
On the contrary, the rupee showed strength and improved its worth against the British pound. The pound's buying and selling rates were declined from overnight closing of Rs 140.70 and Rs 141.50 to Rs 140.20 and Rs 140.80, respectively, the dealers said.
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).