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The rupee closed a tad lower at 61.40 against the dollar as the American currency gained in strength against other major currencies. The US dollar was trading 0.25 per cent higher at 87.14 against a basket of world’s major currencies. The Indian unit had closed at 61.36 on Friday. On Monday, it opened lower at 61.51, but regained its strength after HSBC’s PMI data pointed to some industrial recovery. Intra-day, the rupee moved between 61.51 and 61.38.
Call rates, bond yields drop
The inter-bank call money rate, the rate at which banks borrow short-term funds from one another, closed flat at 7.10 per cent. Yield on the 10-year benchmark 8.40 per cent government security, maturing in 2024, closed a tad lower at 8.25 per cent from the previous close of 8.27 per cent. The price of the bond closed higher at ₹100.91 from the previous close of ₹100.78.
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