The rupee closed lower at 60.07 against the dollar (previous close: 59.93) amid reports that foreign investors pulled out money due to the lack of specifics in the Union Budget announced late last week.
Marketmen were also cautious ahead of the consumer price index-based inflation data released on Monday. In intra-day trade, the rupee moved in a range of 59.90 and 60.20. Investors were also eyeing the Federal Reserve Chairperson Janet Yellen’s congressional testimony on Monday.
Call money rates close lower
The inter-bank call money rates, the rate at which banks borrow short-term funds from each other to tide over liquidity mismatches, ended marginally lower at 8.95 per cent from the previous close of 9 per cent. The benchmark 8.83 per cent Government security which matures in 2023closed at ₹100.29. Yields closed at 8.78 per cent.