Forex

Rupee ends lower at 61.94

Our Bureau Mumbai | Updated on March 12, 2018

rupee





The rupee ended 15 paise weaker at 61.94 against the dollar on a weaker euro and dollar demand from oil importing companies. The domestic unit had closed at 61.79 on Friday.

 

The unit opened at 61.74 on Monday aided by foreign capital flows into the domestic equity markets. It strengthened to 61.65 per dollar at the Interbank Foreign Exchange market.

However, the rupee was pulled down after the Euro depreciated to a near two-year low as investors bet the European Central Bank will ease monetary policy more aggressively to ward off deflation.

In addition, demand for the American currency from state-run banks on behalf of oil importers were also a drag on the rupee, which fell to 61.96 during the closing hours.

Investors will further watch out for key economic data due this week. The government will issue gross domestic product (GDP) data for the September quarter and fiscal deficit data for October on 28 November.

Call rates rise; Bonds end flat

The inter-bank call money rate, the rate at which banks borrow short-term funds from one another, closed higher at 8.60 per cent from the previous close of 7.50 per cent. Intra-day, the call money market moved between 7.85 per cent and 8.95 per cent range.

Yield on the 10-year benchmark 8.40 per cent government security, maturing in 2024, ended flat from its previous close of 8.16 per cent on Friday. The price of the bond increased a tad to Rs 101.55 from Rs 101.51.

Published on November 24, 2014

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