Rupee ends 13 paise lower at 63.42

Our Bureau Updated - January 05, 2015 at 07:53 PM.

rupee

The rupee ended weaker by 13 paise at 63.42 against the dollar tracking Asian currencies and demand for the American currency from oil importers.

The domestic unit had closed at 63.29 on Friday.

Monday, the unit opened at 63.48 on a stronger dollar and touched a low of 63.50 on mild capital outflows from the domestic equity market.

Major Asian currencies declined against the greenback. Further, the euro hit a near nine-year low against the dollar on Monday as investors bet on extension of stimulus measures by the European Central Bank (ECB), according to agency reports.

In the global currency market, the US dollar strengthened on speculation that the Federal Reserve is likely to raise interest rates this year.

However, the rupee recovered to 63.29 close to the end of the trading session at the Interbank Foreign Exchange market.

Call rates and Bonds

The yields on the benchmark 8.40 per cent government security, which matures in 2024, hardened to 7.89 per cent from the previous close of 7.87 per cent. The price rose to Rs 103.36. Bond prices and yields move in opposite directions.

The interbank call money rates, the rates at which banks borrow from each other for liquidity mismatched, closed at 9 per cent.

Published on January 5, 2015 04:42