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The rupee lost steam in the fag end of the trading session to close at 55.64 against the US dollar.
The domestic unit opened strong at 55.50 and slipped to an intraday low of 55.67 on the back of weak US data and Chinese non-manufacturing PMI (Purchasing Managers Index) data.
The local currency has been hovering around the 56 to the dollar mark for much of last week. Investor sentiment has been weak for the past few days and stunted growth of the Indian Economy has added to investor woes. The country has been battling a double dilemma of slowing growth and high inflation.
The Central Bank has indicated that it will moderate the policy rates further to spur growth.
Call rates, G-Secs
Call rates softened to 8.20 per cent at close from a high 8.35 per cent during the opening bell. It had closed at 7.9 per cent of Friday.
The benchmark 8.79 per cent 10-year government bond maturing in 2021 was trading at Rs 102.86. The yield was 8.34 per cent.
satyanarayan.iyer@thehindu.co.in
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