The rupee ended 23 paise lower at 61.76 a dollar against the previous close of 61.53 due to gains in the American currency overseas and month-end dollar demand from importers. Suresh Nair, Director Admisi Forex, said, “The rupee continued to weaken against the dollar on Tuesday on broad dollar strength. The dollar extended gains against the other major currencies, rising to fresh four-year high as the euro fell sharply after data showed that the annual rate of inflation in the euro zone slowed this month.”
Call rates, G-Sec yields end higher
The inter-bank call money rate, the rate at which banks borrow short-term money from each other, ended higher at 8.10 per cent against the previous close of 7.70 per cent. Government bond (8.40 per cent G-Sec, maturing in 2024) yields hardened to 8.51 per cent from Monday’s close of 8.49 per cent. The price of the security ended lower at ₹99.25 from the previous close of ₹99.39.