Mumbai, Sept 24:
The rupee shed 20 paise to 62.80 per dollar on Tuesday against the previous close of 62.60 on the back of weakness in the domestic equity market.
According to a Treasury dealer with a public sector bank, the domestic currency was impacted as the RBI had last week partially rolled back some of the emergency measures taken to support the rupee.
Further, the month-end dollar demand added to the pressure.
"The recovery in dollar index from its lowest level in seven months dented the sentiment for the rupee. The currency is expected to trade weak and it may head lower towards 63.50/64 in the present week," said Jayant Manglik, President-Retail Distribution, Religare Securities.
Bond yields, call rates
Yields on 10-year benchmark 7.16 per cent government bond, which matures in 2023, declined to 8.76 per cent from the previous close of 8.85 per cent. Prices of the 10-year bond fell to Rs 89.65 against the previous close of Rs 89.16
On Monday, with almost Rs 4,000-crore worth of Government Securities (G-Secs) devolving on underwriters in the bond auction aggregating Rs 15,000 crore, yields on G-Secs rose sharply.
Meanwhile, Economic Affairs Secretary Arvind Mayaram had put the Government's borrowing programme in the second half of the current fiscal at Rs 2.35 lakh crore. As originally planned in the Budget, the Government borrowing is on expected lines.
Inter-bank call money rate, the rate at which banks borrow from each other to meet their short-term funding needs, opened higher at 9.7 per cent from the previous close of 9.5 per cent.
(This article was published on September 24, 2013)
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