The rupee ended a tad lower at 62.36 (previous close: 62.32) against the dollar despite positive economic data emanating from the Government and the RBI over the past few days.
Market players believe that the rupee is likely to remain in the 61-63/$ range as there is uncertainty as to when the US Fed will roll back its monetary stimulus.
The rupee was expected to appreciate because of higher-than-expected GDP growth and a more benign current account deficit.
But oil marketing firms getting back to the market to meet their dollar demand (a dedicated window earlier) did not let the rupee gain.
Call rates flat The inter-bank call money rates, the rates at which banks borrow from each other to meet their short-term requirements, closed almost flat at 6.78 per cent (previous close: 6.75 per cent).
The 7.16 per cent benchmark government security, which matures in 2023, closed lower at Rs 88.04 from its previous close of Rs 88.16. The yields hardened to 9.06 per cent from previous close of 9.04 per cent.