Rupee falls by 54 paise to close at 54.79 a dollar

Our Bureau Updated - March 12, 2018 at 05:24 PM.

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Ending at a three-week low, the rupee fell by 54 paise against the dollar on Friday to close at 54.79 after the greenback continued to strengthen against other currencies overseas.

The Indian unit opened 32 paise lower at 54.57 from a close of 54.25 on Thursday at the Interbank Foreign Exchange market.

According to forex dealers, increased demand for dollars from banks and oil importers also put pressure on the rupee. However, positive domestic equity markets helped the rupee gain to 54.44 per dollar in the afternoon trades.

The BSE-benchmark Sensex ended 144 points higher (up 0.72 per cent) at 20,083 points. Later, the rupee fell to a low of 54.81 to the dollar in the second session of trading on a stronger dollar.

The American currency strengthened to over four-year high against the Japanese yen, while most Asian currencies were trading lower against the dollar.

Investors will watch out for the consumer price inflation data on Monday for cues on the future course of monetary policy in June.

Call rates, G-Secs

The inter-bank call money rates ended flat from Thursday’s close at 7.30 per cent. The call money market moved in a narrow range of 7.20 to 7.35 per cent.

The benchmark 8.15-per cent government security, which matures in 2022, closed higher for the third-consecutive day at Rs 103.64 from its previous close of Rs 103.52 on Thursday. Yields further softened to 7.58 per cent from 7.60 per cent. Bond prices and yield rates trade in the opposite direction.

Beena.parmar@thehindu.co.in

Published on May 10, 2013 09:15