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The rupee carried forward its last week’s slide against the dollar to close 11 paise weaker at 63.68 due to a stronger American currency backed by improved US economic data.
Amid thin volumes of trade, the domestic unit opened a tad lower at 63.63 from Friday’s close of 63.57 per dollar.
Despite capital inflows into the domestic market, the unit continued to decline for the fourth straight trading session to 63.76 as most Asian currencies weakened against the greenback.
Also, month-end dollar demand limited the appreciation in the rupee.
Intra-day, the rupee moved in the range of 63.62 and 63.76 per dollar at the Interbank Foreign Exchange market.
The rupee carried forward its last week’s slide against the dollar to close 11 paise weaker at 63.68 due to a stronger American currency backed by improved US economic data.
Amid thin volumes of trade, the domestic unit opened a tad lower at 63.63 from Friday’s close of 63.57 per dollar.
Despite capital inflows into the domestic market, the unit continued to decline for the fourth straight trading session to 63.76 as most Asian currencies weakened against the greenback.
Also, month-end dollar demand limited the appreciation in the rupee.
Intra-day, the rupee moved in the range of 63.62 and 63.76 per dollar at the Interbank Foreign Exchange market.
Call Rates and G-Sec yields ease
Amid very high liquidity, the interbank call money rates, the rates at which banks borrow from each other for liquidity mismatched, closed lower at 7 per cent from Friday’s close of 8 per cent. During the day, the call money market oscillated between 5.20 per cent and 8.50 per cent.
The yields on the benchmark 8.40 per cent government security, which matures in 2024, softened sharply to 7.92 per cent from the previous close of 7.97 per cent. The price rose to Rs 103.12 from Rs 102.78. Bond prices and yields move in opposite directions.
Amid very high liquidity, the interbank call money rates, the rates at which banks borrow from each other for liquidity mismatched, closed lower at 7 per cent from Friday’s close of 8 per cent. During the day, the call money market oscillated between 5.20 per cent and 8.50 per cent.
The yields on the benchmark 8.40 per cent government security, which matures in 2024, softened sharply to 7.92 per cent from the previous close of 7.97 per cent. The price rose to Rs 103.12 from Rs 102.78. Bond prices and yields move in opposite directions.
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