The rupee weakened four paise on Monday to end at 61.87 against the US dollar due to sustained demand for the American currency from banks and importers. Some caution adopted by participants ahead of core sector data outcome also impacted sentiments, said forex brokers. The rupee resumed lower at 61.90 a dollar as against last Friday’s closing level of 61.83 a dollar. It dropped further to a low of 61.99 on strong dollar demand from importers. However, it witnessed a strong rebound to hit an intra-day high of 61.80 on fresh dollar selling by banks and export houses. It ended the day at 61.87 a dollar.

Bonds, call end lower

Government bonds declined on selling pressure from banks and corporates. The 8.40 per cent government security maturing in 2024 eased to ₹104.32 from ₹104.45 previously, while its yield edged up to 7.74 per cent from 7.72 per cent. The overnight call money rates ended lower at 7.00 per cent from last Friday’s closing level of 7.25 per cent. It moved in a wide range of 7.95 per cent and 6.75 per cent.

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