The rupee completed the first monthly loss since January, as global funds cut holdings of the nation’s stocks on concern that economic growth was cooling. The rupee dropped 1.9 per cent this month to 45.0575 per dollar at close in Mumbai, according to data compiled by Bloomberg. It rose 0.1 per cent from yesterday, advancing for a fourth day.
BONDS RISE
Government bonds improved further on sustained buying by banks and companies. The 7.80 per cent government security maturing in 2021 strengthened to Rs 95.95 from Rs 95.81 yesterday, while its yield softened further to 8.41 per cent from 8.43 per cent.
CALL RATE RECOVERS
The call rate recovered on the overnight call money market on Tuesday on lack of funds in the banking system. The overnight call money rate rebounded to close at 7.25 per cent from 6.20 per cent yesterday.
