Bullish sentiment was seen on the money market on Thursday as the rupee managed to recover modestly against dollar and euro, dealers said.
In the fourth Asian trade euro rallied against the US dollar in Asia on Thursday on news Germany and France had agreed a joint position on a debt bailout for Greece, fuelling hopes for real progress after so many false starts.
The dollar was also weighed by caution over what course lawmakers will take in raising the US debt limit as the August 2 deadline rapidly approaches. Indian rupee was trading at Rs 44.45 versus dollar, Malaysian ringgit was at 2.9910 in terms of the greenback and Chinese yuan was at 6.4520 in relation to the US currency.
The rupee also recovered 86 paisa in relation euro for buying at Rs 121.40 and Rs 121.90, they said.
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Open Buying Rs 86.00
Open Selling Rs 86.20
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Buying Rs 86.12
Selling Rs 86.15
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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 13.75 13.90 13.80 13.90 13.84
1-Week 12.90 13.50 13.50 13.60 13.38
2-Week 13.00 13.45 13.45 13.50 13.35
1-Month 13.00 13.40 13.40 13.50 13.33
2-Months 13.10 13.40 13.40 13.45 13.34
3-Months 13.15 13.40 13.40 13.45 13.35
4-Months 13.15 13.40 13.40 13.50 13.36
5-Months 13.20 13.45 13.45 13.55 13.41
6-Months 13.25 13.50 13.50 13.60 13.46
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 13.75 13.90 13.85 13.90 13.85
1-Week 13.00 13.55 13.50 13.65 13.43
2-Week 13.10 13.50 13.50 13.60 13.43
1-Month 13.15 13.45 13.45 13.50 13.39
2-Months 13.15 13.45 13.45 13.50 13.39
3-Months 13.20 13.50 13.45 13.60 13.44
4-Months 13.20 13.50 13.50 13.65 13.46
5-Months 13.25 13.55 13.50 13.65 13.49
6-Months 13.30 13.60 13.50 13.65 13.51
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 moneychangers, the dollar commenced trading at its last day closing of Rs 86.00 and Rs 86.20 on the buying and selling sides. In the absence of buying support, dollar could not sustain itself and declined to Rs 85.90 and Rs 86.10, respectively.
On the contrary, the rupee could not get out of pressure and maintained downward move. At the end of trading, the pound further improved to Rs 138.80 and Rs 139.50 as compared to Wednesday closing of Rs 138.30 and Rs 139.00, respectively, the moneychangers added.
The dollar opened at Rs 86.00 (buying) and Rs 86.25 (selling) against same last rate. It did not observe any change in the second session and closed at Rs 86.00 (buying) and Rs 86.25 (selling).
Pound sterling opened at Rs 138.30 (buying) and Rs 138.45 (selling) against same overnight value. It did not observe further change in the evening session and closed at Rs 138.30 (buying) and Rs 138.45 (selling).