The rupee sunk further as it closed lower at 63.52 against the US dollar, hurt by the strength of the American currency which was seen appreciating against a basket of currencies. The local unit, opened at 63.44 after closing at 63.28 on Tuesday. In the day’s trade, the rupee moved in 63.37 to 63.56 range.
The rupee has faced pressure from the dollar, which has been strengthening on the back of strong economic data emanating from the country.
>#Dollar index struggling to break 90 decisively despite the strong GDP data. The price action in the coming sessions is going to be crucial
— Gurumurthy K (@gurukmurthy)
>December 24, 2014The interbank call money rates closed a tad lower at 7.95 per cent from previous close of 8 per cent.
The yields on the benchmark 8.40 per cent government security, which matures in 2024, hardened to 7.96 per cent from previous close of 7.92 per cent. The price fell to ₹102.90 from ₹103.16 at previous close.
Stability in crude and rupee, Dow hits 18,000 first time ever. Santa Claus has arrived. Cheers!
— lokeshwarri sk (@lokeshwarri)
>December 24, 2014The dollar index moves to 90, eight-year high on strong economic data. Adds to the pressure on rupee and gold.
— lokeshwarri sk (@lokeshwarri)
>December 24, 2014