Forex

Rupee down 25 paise

Our Bureau Mumbai | Updated on March 12, 2018 Published on October 21, 2013

27BL27_IW_RUPEE   -  Business Line

The rupee weakened by 25 paise to end lower at 61.52 to a dollar against the previous close of 61.27 on sustained dollar demand from importers and banks amid volatility in equity markets.

According to a treasury dealer with a public sector bank, dollar buying by a private sector oil company weighed on the domestic unit.

In intra-day trade, the domestic unit touched a high of 61.33 and a low of 61.58.

Abhishek Goenka, Founder and Chief Executive Officer of India Forex Advisors, said it was a mixed session for the currency.

“While it weakened on sustained dollar demand from importers, consistent buying (in the equity markets) by the foreign institutional investors helped the rupee to restrict the losses,” Goenka said.

Globally, with the end of the US shutdown, dealers are now focused on the September US jobs report, due on Tuesday, which is likely to fuel speculation on whether US Federal Reserve can end its tapering programme this year.

Call rates up, bond yields flat



The inter-bank call money rate, the rate at which banks borrow from each other to meet their short-term fund requirements, ended higher at 9 per cent against the previous close of 8.85 per cent.

The 7.16 per cent government security, which matures in 2023, ended flat from the previous close of Rs 90.70. The yields remained flat from the previous close of 8.60 per cent.

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Published on October 21, 2013
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