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The rupee depreciated for the second day on Thursday closing down 12 paise at 63.42 against the US currency due to month-end dollar demand from importers and fall in stocks markets.
Persistent capital outflows too put pressure on the rupee, a dealer said. At the Interbank Foreign Exchange (Forex) market, the domestic unit commenced sharply lower at 63.52 a dollar from the previous close of 63.30 and dropped further to a low of 63.7250 during the day.
Meanwhile, Government bonds dropped further on sustained selling pressure.
The 8.40 per cent government security maturing in 2024 fell to ₹103.48 from ₹103.78 previously. The overnight call money rates ended lower at 6.50 per cent from yesterday’s level of 7.30 per cent.
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