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The rupee on Tuesday dropped 22 paise to close at 65.50 against the resurgent dollar amid rising expectations of a rate hike by the US Federal Reserve. Forex trading sentiment turned a little shaky ahead of the RBI policy meet outcome tomorrow, currency traders said. Increased demand for the American unit fromimporters and corporates along with massive capital outflows largely contributed to the rupee’s weakness, traders said.
Bondyieldsflat, call rate dips
Government bonds (G-Secs) rebounded following freshdemandfromcorporates and banks. The 6.79 per cent 10-year benchmark bondmaturing in 2027climbed to ₹100.98 from ₹100.88 previously, while its yield softened to 6.65 per cent from 6.66 per cent.The overnight callmoneyratefinished lowerat 5.85 per cent fromlast Friday’s level of 5.95 per cent.
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