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The rupee on Friday ended 21 paise lower at 61.63 per dollar against the previous close of 61.42 amid dollar demand from importers and gains in the American dollar overseas.
Forex dealers attributed the rupee’s weakness to increased demand for the US currency from importers. Besides, the dollar’s strength against other currencies overseas put pressure on the rupee, they said. Forex market remained closed yesterday on account of “Guru Nanak Jayanti’’.
A note from India Forex Advisors said, “The key US labour market data and Janet Yellen’s speech will be watched keenly by investors. The US Dollar is expected to bag further gain with the hawkish stance of Fed and ongoing US economic reports.”
Call rates rise, Bond yields
The inter-bank call money rate, the rate at which banks borrow short-term funds from one another, ended higher at 8.15 per cent from the previous close of 8 per cent.
Yield on the 10-year benchmark 8.40 per cent government security, maturing in 2024, hardened to 8.20 per cent from the previous close of 8.19 per cent. The price of the bond fell to Rs. 101.20 from Rs. 100.36.
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