Forex

Rupee settles lower at 53.91 ahead of RBI policy meet

Our Bureau Mumbai | Updated on March 12, 2018 Published on January 28, 2013
Indian rupee notes and US dollar bills

The Indian currency closed weaker at 53.91 against the dollar ahead of RBI's monetary policy review on Tuesday.

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The rupee closed weaker at 53.91 against the dollar as currency markets remained cautious ahead of the third-quarter monetary policy review on Tuesday.



Also, sustained demand for dollars from oil importers kept up the pressure on the Indian unit.



The domestic unit opened lower at 53.85 against the dollar as oil importers rushed to cover their month-end demand for the US currency.



The local unit had closed stronger at 53.69 on Thursday after the RBI allowed foreign investors to invest $5 billion more, each, in government and corporate bonds. Currency markets had remained closed on Friday for Eid.



Intraday, the rupee moved in a narrow range between a high and low of 53.75 and 53.99, respectively.



Call rates, G- Secs



The interbank call money market, closed higher at 8.10 per cent. It had closed at 7.90 per cent on Thursday.



The 8.15 per cent government security (G-Sec), which matures in 2022, closed higher at Rs 101.86 (yield: 7.86 per cent) from its previous close of Rs 101.72 (yield: 7.88 per cent).





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Published on January 28, 2013
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