Inching closer to the 56-level, the rupee on Wednesday weakened by five paise to hit a fresh six-month low of 55.48 on continued dollar demand from importers, ahead of US Federal Reserve Chairman Ben Bernanke's Congressional testimony. The local currency commenced better at 55.35 a dollar from its previous close of 55.41 on the Interbank Foreign Exchange market and improved further to a high of 55.33.
Bonds end lower
Government securities (G-Sec) ended lower on selling pressure from banks and companies. The 8.33 per cent G-Sec maturing in 2026 declined to Rs 107.98 from Rs 108.13 yesterday, while its yield climbed to 7.37 per cent from 7.35 per cent. The 8.15 per cent G-Sec maturing in 2022 fell to Rs 105.11 from Rs 105.21, while its yield moved up to 7.37 per cent from 7.35 per cent. The 8.20 per cent G-Sec maturing in 2025 also looked down to Rs 106.60 from Rs 106.77, while its yield edged up to 7.37 per cent from 7.35 per cent.
Call rates finish higher
Call money rates finished higher at the overnight to market here on Wednesday, due good demand from borrowing banks.
The overnight call money rate finished higher at 7.30 per cent from 7.25 per cent yesterday. It moved in a range of 7.35 per cent and 7.20 per cent.
