The dollar showed its muscles against the rupee on the currency market on Monday due to strong demand by the importers to cover the forward buying, dealers said. The rupee fell versus dollar, losing 21 paisa for buying at 87.25 and shed 22 paisa for selling at 87.30, they said.
The euro was helped slightly by the dollar coming under mild pressure with a US congressional "super committee" expected to formally announce on Monday the failure of its three-month-long effort to forge a $1.2 trillion deficit reduction plan.
Still, many players remained nervous of holding euro, unsure how policymakers can bring down the borrowing costs of many euro-zone governments from current elevated levels. The euro drifted to $1.3513, down 0.1 percent from $1.3519 late in New York and well off Friday's peak of $1.3614. The dollar was trading against the Indian rupee at Rs 51.34, it was available at 3.1680 versus the Malaysian ringgit and the US currency was at 6.354 in terms of the Chinese yuan.
========================
Open Buying Rs 87.15
Open Selling Rs 87.30
========================
========================
Buying Rs.87.25
Selling Rs.87.30
========================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 11.60 11.90 11.80 11.90 11.80
1-Week 11.50 11.80 11.80 11.90 11.75
2-Week 11.60 11.75 11.75 11.80 11.73
1-Month 11.60 11.75 11.75 11.85 11.74
2-Months 11.65 11.75 11.75 11.85 11.75
3-Months 11.65 11.75 11.75 11.85 11.75
4-Months 11.65 11.75 11.75 11.85 11.75
5-Months 11.65 11.75 11.75 11.85 11.75
6-Months 11.65 11.80 11.80 11.85 11.78
9-Months 11.70 11.80 11.80 11.85 11.79
1-Year 11.75 11.85 11.85 11.90 11.84
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 11.60 11.90 11.80 11.90 11.80
1-Week 11.60 11.80 11.80 11.80 11.75
2-Week 11.65 11.85 11.85 11.90 11.81
1-Month 11.70 11.85 11.85 12.00 11.85
2-Months 11.75 11.90 11.85 12.00 11.88
3-Months 11.80 11.90 11.90 11.95 11.89
4-Months 11.80 11.90 11.90 11.95 11.89
5-Months 11.80 11.90 11.90 12.00 11.90
6-Months 11.85 11.95 11.95 12.00 11.94
9-Months 11.85 12.00 12.00 12.10 11.99
1-Year 11.90 12.00 12.10 12.15 12.04
=================================================================
According to dealers, the dollar resumed trading at overnight Rs 87.20 and Rs 87.60 as buying and selling rates, respectively, and rose to Rs 87.30 as buying rate while its selling rate remained unchanged at Rs 87.60.
On the contrary, the rupee appreciated against pound sterling, which declined to Rs 136.65 and Rs 137.30 for buying and selling respectively, from last Saturday's Rs 137.20 and Rs 137.60, dealers.
The dollar opened at Rs 87.60 (buying) and Rs 88.05 (selling) against last rate. It did not observe further change in the second session and closed at Rs 87.60 (buying) and Rs 88.05 (selling).
Pound Sterling opened at Rs 137.80 (buying) and Rs 137.90 (selling) against the same overnight value. It did not observe further change in the evening session and closed at Rs 137.80 (buying) and Rs 137.90 (selling).