As the dollar gained amid improving economic scenario in the United States, the rupee plunged sharply to close lower at 60.54 against the American currency.

After opening weak by 21 paise to 60.24 per dollar against the previous close of 60.03 due to month-end dollar demand from oil importers amid narrow movement of trade, the domestic unit hovered in the range of 60.20 and 60.60 in intraday.

Also, the rupee fell on month end demand for the American currency from oil importers.

The US dollar index, measured against a basket of currencies, was trading strong at 81.50, up 0.09 per cent.

Call rates up, G-Sec yields flat

The interbank call money rate, the rate at which banks borrow short-term funds from one another to tide over liquidity mismatches, ended higher at 8.05 per cent from previous close of 7 per cent.

Yield on benchmark 8.83 per cent government security ended flat at 8.72 per cent. It closed flat at Rs 100.68.

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