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The rupee closed weaker at 54.39 against the dollar as month-end demand for the US currency weighed on the Indian unit.
The domestic unit opened 14 paise lower at 54.28 against the dollar at the Interbank Foreign Exchange market against Monday's close of 54.14.
Falling commodity and gold prices has given some hope that the yawning gap in trade and current account deficit will be bridged to an extent. A lower current account deficit will help in strengthening of the rupee.
Intraday, the rupee moved between a high and low of 54.26 and 54.42, respectively.
The currency, bond and call money markets will remain shut on Wednesday on account of Mahavir Jayanti.
Call rates, G-Sec up
The interbank call money rates closed higher at 7.75 per cent from the previous close of 7.60 per cent.
The 8.15 per cent government security, which matures in 2022, closed higher at Rs 102.67 from the previous close at Rs 102.54. Yields softened to 7.73 per cent from precious close of 7.75 per cent.
satyanarayan.iyer@thehindu.co.in
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