The rupee ended lower at 63.39 against the American currency as the markets remained jittery ahead of the two day Federal Open Markets Committee (FOMC) meeting that begins today in the United States.

The Indian currency opened weaker at 63.35 against Monday’s closed of 62.85.

The FOMC is expected to outline the pace of the tapering of the fiscal stimulus, which has infused over $1 trillion over the last year.

Intraday, the rupee moved between a high of 62.95 and a low of 63.64.

Call rates, G-Sec

The interbank call money rates, the rates at which banks borrow from each other to meet their short-term fund requirements, closed a tad higher at 10.25 per cent from previous close of 10.20 per cent.

The 7.16 per cent government security, which matures in 2023, closed a little lower at Rs 91.64 from previous close of Rs 91.70. Yields were almost flat at 8.43 per cent.

satyanarayan.iyer@thehindu.co.in

(This article was published on September 17, 2013)
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