The rupee tumbled by 19 paise to end at a more than two-year low of 66.76 against the US dollar on month-end demand for the American currency from importers and some banks. Besides, persistent foreign capital outflows affected the market sentiment, forex dealers said. The domestic currency opened lower by 66.66 as against Thursday’s closing of 66.57 at the forex market and dropped further to 66.89 before ending at 66.76, a loss of 0.29 per cent. The local currency has now dropped 44 paise, or 0.66 per cent, in the last two days.

Bond yields up; call rates drop

Government bond (G-Secs) dropped further on selling pressure from banks and corporates, and the overnight call money rates also ended lower due to subdued demand from borrowing banks amid ample liquidity in the banking system. The 7.72 per cent G-Sec maturing in 2025 fell to ₹99.69 from ₹100 previously, while its yield moved up to 7.77 per cent from 7.72 per cent. The overnight call money rates also finished lower at 6.40 per cent from Thursday’s close of 6.75 per cent. It resumed higher at 6.80 per cent and moved in the 6.10-6.90 per cent range.

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