Comments
Declining for the third consecutive day, the rupee slipped by four paise to 63.81 against the US dollar on sustained demand for the American currency from banks and importers on weak cues from global markets. However, persistent capital inflows from foreign funds restricted the rupee’s fall, forex dealers said.
The local currency opened almost flat at 63.76 as against its previous closing of 63.77. It moved in a range of 63.75 and 63.84 during the day before ending at 63.81, showing a loss of 4 paise or 0.06 per cent. The domestic currency had lost seven paise, or 0.11 per cent, in last three days.
Bonds slip; call rates remain weak
The government bond (G-Sec) prices retreated after a two-day rally due to fresh selling pressure from banks and corporates amid profit taking by market participants ahead of the weekend. Inter-bank call rates dropped further owing to reduced demand from borrowing banks on the back of adequate liquidity in the banking system. The new benchmark 7.72 per cent government security maturing in 2025 softened to ₹99.38 from ₹99.40 yesterday, while its yield held steady at 7.81 per cent. The overnight borrowing rates dropped to 6.80 per cent from Thursday’s closing level of 7.15 per cent after touching a low of 6.00 per cent in early trade.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.