The rupee performed on both sides versus dollar on the currency market on Wednesday in process of trading, dealers said. The rupee was firm against the dollar as it retained overnight for buying and selling at 87.71 and 87.76, they said.
Strong selling by Japanese exporters into the 0100 GMT Tokyo fix helped trigger stop-loss selling below the previous day's low near 76.35 yen and later below 76.20 yen, and dragged the greenback lower, traders said. Shortly after hitting its intraday low, the dollar spiked up from around 76.20 yen or so to an intraday high of 76.86 yen in a matter of seconds.
The dollar was trading against the Indian rupee at Rs 48.05, the greenback was available at 3.1120 versus the Malaysian ringgit and the US currency was at 6.378 in terms of the Chinese yuan.
========================
Open Buying Rs 88.40
Open Selling Rs 88.60
========================
========================
Buying Rs.87.71
Selling Rs.87.76
========================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 11.25 13.15 11.50 13.25 12.29
1-Week 13.15 13.25 13.25 13.30 13.24
2-Week 13.15 13.25 13.30 13.35 13.26
1-Month 13.00 13.20 13.25 13.30 13.19
2-Months 13.00 13.20 13.25 13.30 13.19
3-Months 13.00 13.25 13.25 13.35 13.21
4-Months 13.00 13.25 13.25 13.35 13.21
5-Months 13.10 13.30 13.25 13.35 13.25
6-Months 13.10 13.30 13.25 13.35 13.25
9-Months 13.15 13.30 13.35 13.40 13.30
1-Year 13.20 13.35 13.35 13.40 13.33
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 11.25 13.15 11.50 13.25 12.29
1-Week 13.15 13.30 13.30 13.35 13.28
2-Week 13.15 13.30 13.30 13.35 13.28
1-Month 13.15 13.25 13.25 13.30 13.24
2-Months 13.10 13.25 13.30 13.35 13.25
3-Months 13.10 13.30 13.30 13.35 13.26
4-Months 13.10 13.30 13.30 13.35 13.26
5-Months 13.15 13.35 13.35 13.40 13.31
6-Months 13.15 13.35 13.35 13.45 13.33
9-Months 13.20 13.40 13.40 13.50 13.38
1-Year 13.25 13.50 13.40 13.60 13.44
=================================================================
According to dealers, the dollar buying and selling rates improved to Rs 88.70 and Rs 89.00 against overnight Rs 88.50 and Rs 88.80, respectively.
The rupee lost 10 paisa on buying side and remained unchanged on selling side in relation to pound sterling. The pound was purchased and sold at Rs 139.90 and Rs 140.50 against the Tuesday closing of Rs 139.80 and Rs 140.50, respectively, dealers said.
The dollar resumed trading at Rs 87.20 (buying) and Rs 87.35 (selling) against same last rates. It did not observe further change in the second session and closed at Rs 87.20 (buying) and Rs 87.35 (selling).
Pound serling opened at Rs 138.45 (buying) and Rs 138.60 (selling) against same previous rates. It did not observe further change in the evening session and closed at Rs 138.45 (buying) and Rs 138.60 (selling).