Comments
The rupee closed a tad weaker at 61.84 against the American dollar after capital inflows by foreign investors to buy Infosys shares, being sold by the promoters.
The domestic unit had closed at 61.79 per dollar on Friday.
The unit declined to 61.94 in its opening trade due to weakness in other Asian currencies over the American currency. However, four Infosys co-founders sold shares worth $1.1 billion on Monday.
This boosted investor confidence which pumped dollar into the equity markets. This helped the rupee recover to 61.84 per the dollar.
The Indian unit traded in a narrow range of 11 paise 61.84 to 61.95 on Friday.
Call Rates and G-secs
The overnight call money rates, rates at which banks borrow from each other for liquidity mismatches, ended at 8.05 per cent.
The benchmark government security (8.40 per cent G-Sec, maturing in 2040) yield softened to end lower at 7.91 per cent (price closed at Rs 103.19) from the previous close of 7.94 per cent. The yields have softened in the week due to expectations of a policy rate cut by the RBI next year.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.