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Snapping initial gains, the rupee ended four paise weaker at 62.57 on Wednesday as investors remained cautious ahead of US non-farm payrolls data and the European Central Bank meeting on Thursday. According to reports, FII outflows in equities worth ₹576 crore kept the pressure on the rupee. A better-than-expected US jobs data on Friday would help the US Federal Reserve to decide in favour of further tapering, thereby putting more pressure on the rupee, a dealer said.
Call rates, bond yields rise
The interbank call money rate, the rate at which banks borrow money from each other to meet short-term capital needs, closed higher at 8.50 per cent from Tuesday’s close of 7.20 per cent. The yield on the benchmark 8.83 per cent Government security, maturing in 2023, hardened to 8.71 per cent from 8.68 per cent. The prices fell to ₹100.78 from the previous close of ₹100.96. Bond prices and yields move in opposite direction. Our Bureau
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