Rupee ends marginally up at 54.85

Our Bureau Updated - March 12, 2018 at 03:41 PM.

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After a weak intra-day trade, the rupee ended marginally higher at 54.85 against the dollar on Monday as exporters and corporates sold dollars.

The Indian unit had closed at 54.90 on Friday on the back of capital outflows due to growth worries by investors.

Breaching the 55-mark, the unit opened lower at a near two-month low of 55.03 against the dollar tracking the weaker domestic and Asian equity markets. A disappointing Budget last week and continued pressure on the current account and fiscal deficit this fiscal hurt the rupee sentiments.

After a weak opening, it fell to 55.14 per dollar in the afternoon trade. However, the domestic currency reversed its losses later to trade at 54.79 per dollar on mild dollar selling by investors.

Further, the euro was trading at over two-and-a-half month low adding to the rupee woes.

Call rates and G-Secs

Amid high liquidity, the inter-bank call money rates closed lower at seven per cent from Friday's close of 7.50 per cent. Intra-day, the call money market moved in the 6.25 to 7.90 per cent range.

Call money rates are indicative of inter bank borrowing to meet their short-term requirements. A lower rate indicates higher liquidity in the financial system.

The 8.15 per cent government security, which matures in 2022, was trading higher at Rs 101.70 from its previous close of Rs 101.55 on Friday. Yields declined to 7.88 per cent from 7.91 per cent.

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beena.parmar@thehindu.co.in

Published on March 4, 2013 05:57