Range-bound trading was seen on the money market on Friday as the rupee moved but little versus dollar, experts said. The rupee gained two paisa in relation to dollar for buying at 85.81 and it also inched up by one paisa for selling at 85.86, they said.
"For investor risk appetite to come back, we'll need a recovery in US economic data and the prospect of an end to Greece's debt crisis. None of which is there at the moment," said Koji Fukaya, chief FX strategist at Credit Suisse.
The single currency fell 0.4 percent to $1.4137 in Asia, edging closer to an overnight trough of $1.4073, its lowest in three weeks. China's yuan closed flat against dollar on Friday, meaning it has now gained more than 5.4 percent in the year since it was unshackled from a de facto dollar peg, a quicker gain than analysts had expected at the time. In relation to the greenback the Chinese yuan was at 6.466. Indian rupee was trading at Rs 44.90 versus dollar and Malaysian ringgit was at 3.0450 in terms of dollar.
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Open Buying Rs 85.81
Open Selling Rs 85.86
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Buying Rs 86.10
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 13.50 13.00 13.75 13.25
1-Week 12.25 13.30 13.25 13.35 13.04
2-Week 12.50 13.30 13.30 13.35 13.11
1-Month 12.75 13.25 13.25 13.30 13.14
2-Months 12.80 13.25 13.25 13.35 13.16
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 12.75 13.50 13.00 13.75 13.25
1-Week 12.75 13.40 13.30 13.45 13.23
2-Week 12.90 13.50 13.35 13.55 13.33
1-Month 13.00 13.40 13.50 13.50 13.35
2-Months 12.95 13.35 13.30 13.40 13.25
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 remained intact that helped its appreciation against the rupee in the local market. Amid fresh buying, the dollar's rate was increased to Rs 86.20 and Rs 86.40 on buying and selling side against the overnight closing of Rs 86.10 and Rs 86.30, respectively.
On the contrary, the rupee could not maintain upward slide and depreciated its worth against the pound sterling. The pound was purchased and sold at Rs 139.70 and Rs 140.70, as compared to previous closing of Rs 139.30 and Rs 140.30, 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).