The dollar and euro rode over the rupee's weakness in the currency market on Thursday in process of trading, dealers said. The rupee resisted sharp fall versus dollar, losing five paisa for buying and selling at 88.75 and 88.80, they said.
Reuters adds: In the fourth Asian trade euro steadied after rallying the previous day as major central banks acted together to ease a credit squeeze stemming from the euro zone's debt crisis, while the Australian dollar gave back some of its hefty gains.
The yuan ended up against dollar on Thursday but traded below the Chinese central bank's mid-point, as the market showed still decent dollar demand at the year-end. The dollar was trading versus the Indian rupee at Rs 51.80 and it was available at 3.1440 versus Malaysian ringgit.
========================
Open Buying Rs 88.60
Open Selling Rs 88.80
========================
========================
Buying Rs 88.75
Selling Rs.88.80
========================
=================================================================
Repo Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 11.90 11.90 11.90 11.90 11.90
1-Week 11.75 11.90 11.90 11.90 11.86
2-Week 11.75 11.90 11.85 11.90 11.85
1-Month 11.60 11.80 11.85 11.90 11.79
2-Months 11.65 11.80 11.80 11.85 11.78
3-Months 11.65 11.75 11.80 11.85 11.76
4-Months 11.65 11.75 11.80 11.85 11.76
5-Months 11.70 11.80 11.80 11.85 11.79
6-Months 11.65 11.75 11.80 11.85 11.76
9-Months 11.70 11.85 11.85 11.90 11.83
1-Year 11.70 11.85 11.85 11.90 11.83
=================================================================
Call Rates (Yield p a)
-----------------------------------------------------------------
Tenor Low Bid High Bid Low Offer High Offer Average
=================================================================
Overnight 11.90 11.90 11.90 11.95 11.91
1-Week 11.85 11.95 11.90 12.00 11.93
2-Week 11.85 11.95 11.90 12.00 11.93
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
=================================================================
According to the currency dealers, the dollar witnessed fresh demand that kept the local currency under pressure. The dollar was ended higher at Rs 88.45 and Rs 88.80, as its buying and selling rates against the overnight closing of Rs 88.20 and Rs 88.60, respectively.
Likewise, rupee remained under pressure throughout the day and was slide down against the pound sterling. The pound's buying and selling rates were improved from Wednesday closing of Rs 136.60 and Rs 137.50 to Rs 137.50 and Rs 138.90, 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).