Forex

Rupee ends lower at 62.03 on dollar demand from importers

Our Bureau MUMBAI | Updated on November 28, 2014

currency

The rupee breached the 62 level mark to end 16 paise lower at 62.03 per dollar against the previous close of 61.87 on month-end dollar demand from importers.

After opening marginally weak at 61.90, the rupee hovered in the range of 61.87 and 62.10 in the evening trade.

Forex dealers said that hefty gains in the domestic equity market also failed to prop up the domestic unit, the dollar's gains against other currencies overseas dampened the rupee sentiment.

Government bond yields on Friday slipped to record levels on falling crude prices globally.The 8.40 per cent 10-year benchmark bond maturing in 2024 rose to ₹102.05 from ₹101.65 previously, while its yield softened to 8.08 per cent from 8.15 per cent. At 9.40 am, the bond yield was trading lower at 8.09 per cent. The overnight call money rates ended lower at 7.90 per cent from yesterday’s close of 7.75 per cent.

Published on November 28, 2014

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