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Extending its losses for the third straight day, the rupee on Thursday hit a fresh 20-month low of 64.26 intra-day against the American currency but a fag-end recovery saw it regaining some lost ground before ending at 64/dollar, showing a loss of 10 paise. The domestic currency continued to witness a downward trend on the back of sustained capital outflows by foreign funds and consistent dollar demand from importers and banks. The rupee resumed sharply lower at 64.10 to a dollar at the Interbank Foreign Exchange against the overnight closing level of 63.90 and drifted further to hit a new 20-month low of 64.26/dollar.
Bond prices fall, call rates up
Government bond (G-Sec) prices remained under intense selling pressure for the third consecutive day following sustained unwinding by banks and corporates. The 8.40 per cent government security maturing in 2024 fell to ₹102.48 from ₹102.85 on Wednesday, while its yield rose to 8.01 per cent from 7.95 per cent. The overnight call money rates finished higher at 7.30 per cent from Wednesday’s closing level of 6.30 per cent after hovering in a range of 7.30 per cent and 6.25 per cent.
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