The rupee failed to come out of present weakness versus dollar on the currency market on Friday, dealers said. The rupee dropped by 10 paisa in relation to dollar for buying at 87.75 and it also lost 13 paisa for selling at 87.80, they said.
The euro hit a seven-week low of $1.3298 on Friday, and market players are bracing for further weakness in coming months, although short-covering may slow the currency's descent and cause some swings in between. The yuan ended down against dollar even though the People's Bank of China set the mid-point slightly higher, as dealers cited strong dollar demand around the month-end and the dollar index hit a two-month high. The dollar was available against the Indian rupee at Rs 52.18 and it was trading versus the Malaysian ringgit at 3.1905.
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Open Buying Rs 87.75
Open Selling Rs 87.80
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Buying Rs 87.65
Selling Rs 87.85
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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 11.75 11.90 11.90 11.95 11.88
1-Week 11.65 11.85 11.80 11.90 11.80
2-Week 11.70 11.75 11.80 11.85 11.78
1-Month 11.65 11.75 11.75 11.85 11.75
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
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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 11.75 11.95 11.90 11.95 11.89
1-Week 11.70 11.90 11.85 12.00 11.86
2-Week 11.75 11.90 11.85 12.00 11.88
1-Month 11.70 11.90 11.85 12.00 11.86
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
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According to the currency dealers, the dollar's demand remained intact that kept the local currency under pressure throughout the day. At the end of trading, the dollar was closed higher at Rs 87.70 and Rs 88.20 against the overnight closing of Rs 87.40 and Rs 87.80 on buying and selling counters, respectively.
The rupee was marginally declined by 10-paisa on buying side, while it remained unchanged on selling side against the pound sterling. The pound was traded at Rs 136.10 and Rs 136.80 on buying and selling side, compared with last day closing of Rs 136.00 and Rs 136.80, respectively, the dealers added.
The dollar opened at Rs 87.60 (buying) and Rs 88.05 (selling) against the 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 overnight value. It did not observe further change in the evening session and closed at Rs 137.80 (buying) and Rs 137.90 (selling).