Forex

Rupee closes weaker at 53.06

Our Bureau Mumbai | Updated on October 10, 2012 Published on October 10, 2012

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BL11MARKETS-INDIA-RUPEE

The rupee closed weaker at 53.06 against the dollar after Standard and Poor’s downgrade warning and demand for the American currency from oil-importers persisted.



Ratings agency S&P’s warning of a "significant chance" of downgrading the credit rating on India weakened the rupee below 53 levels.



The Indian unit opened 26 paise lower at 52.98 on weak Asian markets and a stronger dollar. It had closed at 52.72 on Tuesday.



Intraday, the rupee moved between a high and low of 52.85 and 53.18, respectively.



Call rates and G-Secs



The overnight call money rates closed unchanged from previous close of 8.05 per cent.



The 10-year benchmark, 8.15 per cent government security, maturing in 2022 closed at Rs 99.94 (yield: 8.15 per cent) from its previous close Rs 100.02 (yield: 8.14 per cent) on Tuesday.



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Published on October 10, 2012
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