Tracking the euro and global markets, the rupee remained volatile in the afternoon session.

The rupee snapped a three day winning streak to close at 55.42 against the dollar.

Heavy buying of dollars by oil importers and a weak euro reversed the local unit’s three day gain.

“There were two triggers why the rupee slipped today - dollar buying by oil importers and weakening of euro,” a chief dealer with a public sector bank said.

The domestic unit, which had closed at 55.07 on Monday, touched and intraday low towards the fag end of the trading session.

Intraday, the rupee traded between an high and low of 54.96 and 55.42, respectively.

Call Rates and G-Secs

The overnight call rates closed unchanged from its previous close of 8.05 per cent.

The day’s most widely traded, 8.33 per cent government bond, maturing in 2026 closed higher at Rs 100.13 (yield: 8.31 per cent) from the previous close of Rs 100.02 (8.33 per cent).

The 8.15 per cent government bond maturing in 2022 also closed higher at Rs 100.06 (yield: 8.13 per cent) from its previous close of Rs 99.99 (yield: 8.15 per cent).

(This article was published on August 8, 2012)
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