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Despite positive wholesale price index-based inflation data, the rupee ended almost flat at 61.55 because of robust demand for dollars from oil importers.
The rupee shed 12 paise to 61.65/$ in the opening trade against Monday’s close of 61.53.
However, the domestic unit recovered to 61.42 as the WPI inflation for December released on Wednesday was at a five-month low of 6.16 per cent.
“After witnessing gains in the last few sessions, the rupee was seen weakening slightly as the US dollar index strengthened taking cues from the better-than-expected retail sales data,” said Abhishek Goenka, Founder and CEO, India Forex Advisors.
Call rates dip The inter-bank call money rate, the rate at which banks borrow short-term money from each other, ended weaker at 8.55 per cent against the previous close of 8.75 per cent.
Bond yields drop Yield on the benchmark 8.83 per cent government bond, maturing in 2023, softened to 8.64 per cent from the previous close of 8.71 per cent. Prices ended sharply higher at Rs 101.23 from Rs 100.76.
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