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Rupee Trading A Tad Weak At 60.17

Date 06-May-2014
Subject Rupee Trading A Tad Weak At 60.17

The rupee was trading a tad weak at 60.17 against the dollar at 3.37 p.m. local time on emergence of fresh dollar demand from banks and importers.

The domestic unit opened strong at 60.10 per dollar against the previous close of 60.15 on the back of weakness in the dollar index.

The rupee hovered in the range of 60.00-60.19 per dollar. Call rates, bond yields

The overnight call money rate (the rate at which banks borrow money from each other to overcome short-term liquidity mismatches) opened sharply higher at 8.35 per cent against the previous close of 7.50 per cent.

The yield on 10-year benchmark 8.83 per cent bond, maturing in 2023, softened a tad to 8.78 per cent against Friday's close of 8.8 per cent. Bond prices rose to Rs 100.27 from Rs 100.13. Bond yields and prices move in opposite directions.

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