The rupee ended weaker at 60.32 against the dollar on heavy buying of the US currency by oil importers. On Wednesday, the rupee had ended at an eight month high of 60.16. According to Abhishek Goenka, Founder and CEO, India Forex Advisors, “The weakness in the rupee was mainly attributed to strength in the US dollar, depreciating euro and dollar buying in the local market. Going ahead, US unemployment claims, GDP and home sales data will be closely watched today.”
Call rates dip, bond yields harden
The inter-bank call money rate ended marginally lower at 7.05 per cent against the previous close of 7.10 per cent. The 8.83 per cent 10-year benchmark bond, maturing in 2023, fell to ₹100.07 from the previous close of ₹100.28, while the yield hardened to 8.81 per cent from 8.78 per cent.