The rupee surrendered initial gains and fell for the second day to end nine paise weaker at 62.09 per dollar against the previous close of 62 on concerns about the US Federal Reserve tapering its stimulus programme.

The rupee sentiment was buoyed after RBI Governor Raghuram Rajan surprised the markets by leaving the repo rate and CRR unchanged at 7.75 per cent and 4 per cent, respectively.

The inter-bank call money rate, the rate at which banks borrow from each other to meet their short-term requirements, ended higher at 8.90 per cent against the previous close of 8.85 per cent.

The 8.83 per cent G-sec, which matures in 2023, ended higher at Rs 100.2 against the previous close of Rs 99.44. Yield on the security softened to 8.78 per cent from 8.91 per cent.

(This article was published on December 18, 2013)
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