The rupee gave up its overnight firmness in relation to dollar on the currency market at the weekend, experts said. The rupee dropped by 11 paisa in terms of the greenback for buying at 85.74 and it shed 10 paisa for selling at 85.77, they said.
"Tension in the European periphery is again rising and has potential to feed into a higher risk premium on the euro in coming weeks, as we enter a critical phase around securing a more long-term solution for Greece," said Jens Nordvig, head of G10 FX research at Nomura Securities in New York.
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Open Buying Rs.85.75
Open Selling Rs.85.95
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Buying Rs.85.74
Selling Rs.85.77
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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's demand could not remain intact that helped rupee recovery in the local market. The dollar was ended marginally lower at Rs 85.70 and Rs 85.90, as its buying and selling rates against the overnight closing of Rs 85.75 and Rs 85.95, respectively.
Similarly, the rupee maintained upward slide and further appreciated against the pound sterling. The pound was declined to Rs 140.00 and Rs 140.60 on buying and selling side, as compared to day earlier closing of Rs 140.20 and Rs 140.80, respectively, the dealers said.
The dollar resumed trading at Rs 85.55 (buying) and Rs 85.75 (selling) against the last rate. It did not observe further change in the evening session and closed at Rs 85.55 (buying) and Rs 85.75 (selling).
Pound Sterling opened at Rs 136.20 (buying) and Rs 136.65 (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).