The rupee weakened on Monday, snapping two days of gains after data showed higher-than-expected inflation for September and robust dollar demand from a large private oil firm. The partially convertible rupee closed at the day's low of 61.55 a dollar compared to 61.08 on Friday, after moving in a 61.13 to 61.55 range. The wholesale price index rose 6.46 per cent in September from a year earlier, well above expectations of a six per cent advance and above the 6.1 per cent seen in August.
Bonds remain lower
Government bonds remained lower on sustained selling pressure from banks and companies. The 7.16 per cent government security maturing in 2023 fell to Rs 90.86 from Rs 91.38 previously, while its yield moved up to 8.57 per cent from 8.49 per cent.
Call rates finish higher
Call rates ended higher at the overnight market on Monday, owing to good demand from borrowing banks. The rates finished higher at 8.95 per cent from 8.25 per cent last Friday.
Bonds remain lower
Government bonds remained lower on sustained selling pressure from banks and companies. The 7.16 per cent government security maturing in 2023 fell to Rs 90.86 from Rs 91.38 previously, while its yield moved up to 8.57 per cent from 8.49 per cent.
Call rates finish higher
Call rates ended higher at the overnight market on Monday, owing to good demand from borrowing banks. The rates finished higher at 8.95 per cent from 8.25 per cent last Friday.