Forex

Rupee closes tad higher

Our Bureau Mumbai | Updated on June 11, 2014 Published on June 11, 2014

rupee

The rupee ended a tad higher at 59.27 against the dollar on thin volumes of trading ahead of the expected inflation data on Thursday and next week.

The domestic unit opened marginally weaker at 59.33 per dollar against Tuesday’s close of 59.29, tracking weak Asian currencies and bouts of demand for the American currency from importers and banks.

Further, some weakness in the Euro and domestic equity market weighed on the rupee which declined to 59.37 per dollar at the Interbank Foreign Exchange market.

BSE-benchmark Sensex ended at 25,474 poitns, lower by 110 points (0.43 per cent) weaker over its previous close.

The rupee hovered in a narrow range of 59.22 and 59.37 against the dollar, moving 15 paise during the day.

Market investors will keenly watch as the Government is due to release Consumer Price Inflation index on Thursday and Wholesale Price Index inflation data on June 16.

Call and Bond rates

The overnight call money rate (the rate at which banks borrow money from each other to overcome short-term liquidity mismatches) closed higher at 7.50 per cent from Tuesday’s close of 7.00 per cent. It moved in range of 8.40 per cent and 7.00 per cent.

The 8.83 per cent benchmark bond maturing in 2023 rose to Rs 101.88 from the previous close of Rs 101.70, while its yield declined to 8.53 per cent from 8.56 per cent previously.

Bond yields and prices move in opposite direction.

Published on June 11, 2014
This article is closed for comments.
Please Email the Editor