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The rupee ended down 0.4 per cent on Monday as market players panicked after tensions rose on the possibility of a war between Ukraine and Russia.
Such an event would send crude oil prices soaring. There were reports of investors seeking refuge in the relatively safe haven US economic assets to counter the event risk.
The rupee closed lower at 62.04 against the dollar from the previous close of 61.80. The rupee is likely to trade in the 61.80 to 62.50 range for the rest of this week.
Call rates dip, bond yields harden
The inter-bank call money rate, the rate at which banks borrow money from each other, ended weaker at 7 per cent from its previous close of 7.75 per cent. Yield on the 10-year benchmark 8.83 per cent Government security, maturing in 2023, hardened to 8.90 per cent from its previous close of 8.86 per cent. Bond prices fell to ₹99.50 from ₹99.77.
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