Snapping a four-session gaining spree, the rupee on Monday lost 36 paise to close at 49.05/06 against the dollar, due to fresh buying of the American currency by importers. Forex dealers said renewed dollar demand from importers and some banks on hopes of a further rise in the US currency’s value in the near future also weighed against the rupee.
Bonds decline further
The government securities (G-Sec) declined further due to sustained selling pressure by banks and companies. The 8.79 per cent (G-Sec) maturing in 2021 remained weak to Rs 104.00 from last Friday’s close of Rs 104.1275, while its yield moved up to 8.18 per cent from 8.16 per cent.
Call rate finishes lower
The call rate also finished lower on the overnight call money market here on Monday, owing to lack of demand from borrowing banks, amid ample liquidity in banking system. The overnight rate ended lower at 8.60 per cent from last Friday’s closing level of 8.70 per cent.
