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The rupee slipped marginally to close 5 paise lower at 63.57 against the dollar amid thin trades and mild dollar demand from oil companies.
The domestic unit had closed weaker at 63.52 on Wednesday. On Thursday, the currency market remained closed due to Christmas holiday.
Friday, the unit opened higher at 63.48 due to mild capital flows and some Asian currencies edged up against the dollar.
However, it declined to 63.68 due to dollar demand from oil importers. In the late afternoon session of trades, the rupee recovered after banks were seen selling dollars on behalf of the Reserve Bank due to less volumes of trade, a dealer said.
Intra-day, the rupee moved in the 21 paise range between 63.47 and 63.68 against the American dollar.
Call Rates and G-Sec yields up
The interbank call money rates, the rates at which banks borrow from each other for liquidity mismatched, closed a tad higher at 8 per cent from Wednesday’s close of 7.95 per cent. During the day, the call money market moved between 7.75 per cent and 8.50 per cent.
The yields on the benchmark 8.40 per cent government security, which matures in 2024, hardened slightly to 7.97 per cent from 7.96 per cent. The price fell to Rs 102.78 from Rs 102.90. Bond prices and yields move in opposite directions.
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