The rupee dropped the most in about a month on speculation that capital inflows had slowed after India’s biggest equity offering in a year. It declined 0.7 per cent to 53.86 a dollar here, the biggest drop since January 4.
Bonds react downward
Government bonds reacted downwards on selling pressure from banks and companies.
The 8.15 per cent government security maturing in 2022 dropped to Rs 101.89 from Rs 101.99 last Friday, while its yield moved up at 7.86 per cent from 7.84 per cent.
Call rates end higher
Overnight money rates ended higher here on Monday on good demand from borrowing banks. It finished higher at 7.85 per cent from 7.50 per cent previously. It moved in a range of 7.85 per cent and 7.70 per cent.
