The rupee ends a tad lower at 60.14 against the dollar from Friday’s close of 60.11 due to month-end dollar demand from oil importers amid narrow movement of trade.

The domestic unit opened flat at 60.11 per dollar amid flat opening in the domestic equity market amid dollar buying by public sector banks on behalf of oil importers to meet month-end payment commitments.

The unit surged to 60.08 during the day on mild sales by foreign banks. However, the gains were pared as the rupee declined to 60.16 as dollar demand pulled the currency down.

Intra-day, the rupee moved 8 paise between 60.08 and 60.16 per dollar at the Interbank Foreign Exchange market. It is likely to trade range bound in the week ahead due to absence of any major events.

Call rates, bond prices

The inter-bank call money rate, the rate at which banks borrow short-term funds from one another to tide over liquidity mismatches, ended weaker at 8.80 per cent from Friday’s close of 8.40 per cent. During the day, call rates moved between the range of 8.25 and 9.05 per cent.

Yield on the 10-year benchmark bond 8.40 per cent, maturing in 2024, closed lower at 8.43 per cent from its previous close of 8.67 per cent. The price ended at Rs 99.77

While yield on the widely traded 8.83 per cent government bond maturing in 2023 (previous benchmark) ended a tad higher at 8.70 per cent from the previous close of 8.67 per cent. The price ended at Rs 100.74.

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