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Re drops to 10-week low at 55.13

Source : BUSINESS_STANDARD
Last Updated: Wed, Nov 21, 2012 19:42 hrs
An employee counts Indian currency notes at a cash counter inside a bank in Kolkata

The rupee fell to a 10-week low after European leaders failed to agree on a debt-reduction package for Greece, boosting demand for the relative safety of the dollar.

The rupee declined 0.1 per cent to 55.13 per dollar in Mumbai, according to data compiled by Bloomberg. It touched 55.38 earlier, the weakest level since September 13, when the government began announcing measures to improve public finances and attract investment

Bonds remain weak
G-Sec bonds remained weak on sustained selling pressure from banks and corporates. The 8.15 per cent government security maturing in 2022 dropped to Rs 99.6125 from Rs 99.66 previously, while its yield edged up 8.21 per cent from 8.20 per cent.

The 8.33 per cent government security maturing in 2026 fell to Rs 100.23 from Rs 100.2625, while its yield held steady at 8.30 per cent. The 8.20 per cent government security maturing in 2025 slid to Rs 99.15 from Rs 99.22, while its yield inched up 8.31 per cent from 8.30 per cent.

Call rates end lower
The overnight call money rates ended lower at the money market due to lack of demand from borrowing banks. It finished lower at 8.00 per cent from 8.10 per cent yesterday. It moved in a range of 8.15 per cent and 7.95 per cent.

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