Weakness prevailed on the currency market on Saturday as the rupee drifted lower sharply in terms of dollar, dealers said. The rupee failed to retain its overnight firmness, losing 37 paisa against the dollar for buying and selling at 86.57 and 86.62, they said.
The news helped temporarily calm markets a day after US stock indexes posted their worst losses in two years. The dollar rallied on Thursday after Japan intervened to curb yen strength and on worries the euro zone debt crisis was spreading.
A report showing stronger-than-expected US jobs growth in July assuaged some concerns the economy was slipping back into a recession, but investors remained jittery.
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Open Buying Rs 86.00
Open Selling Rs.86.20
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Buying Rs.86.57
Selling Rs.86.62
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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 13.00 12.25 13.20 12.61
1-Week 12.80 13.00 13.00 13.10 12.98
2-Week 12.90 13.05 13.10 13.15 13.05
1-Month 12.90 13.05 13.10 13.15 13.05
2-Months 12.90 13.10 13.15 13.20 13.09
3-Months 12.95 13.15 13.15 13.25 13.13
4-Months 13.00 13.15 13.20 13.25 13.15
5-Months 13.00 13.20 13.20 13.30 13.18
6-Months 13.00 13.20 13.20 13.30 13.18
9-Months 13.10 13.25 13.25 13.35 13.24
1-Year 13.15 13.30 13.30 13.40 13.29
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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 13.00 12.25 13.25 12.63
1-Week 12.85 13.10 13.00 13.15 13.03
2-Week 12.90 13.15 13.15 13.20 13.10
1-Month 13.00 13.20 13.20 13.25 13.16
2-Months 13.00 13.25 13.20 13.30 13.19
3-Months 13.05 13.25 13.20 13.30 13.20
4-Months 13.10 13.30 13.25 13.35 13.25
5-Months 13.10 13.30 13.30 13.35 13.26
6-Months 13.15 13.35 13.30 13.40 13.30
9-Months 13.15 13.35 13.35 13.40 13.31
1-Year 13.15 13.40 13.40 13.50 13.36
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According to the currency dealers, the dollar resumed trading on Friday's closing of Rs 86.00 and Rs 86.20, as its buying and selling rates, respectively. The dollar witnessed no change in its buying rate, which remained intact at Rs 86.00, while following fresh demand, its selling rate moved up to Rs 86.30.
Similarly, the rupee remained under pressure and was declined against the pound sterling. The pound's buying and selling rates were improved from previous closing of Rs 140.30 and Rs 141.00 to Rs 140.70 and Rs 141.50, respectively, the dealers said.
The dollar resumed trading at Rs 86.00 (buying) and Rs 86.35 (selling) against the last rate. It did not observe further change in the second session and closed at Rs 86.00 (buying) and Rs 86.35 (selling).
Pound Sterling opened at Rs 138.35 (buying) and Rs 138.50 (selling) against the overnight value. It did not observe further change in the evening session and closed at Rs 138.35 (buying) and Rs 138.50 (selling).