Re ends stable in line with local stocks

Last Updated: Tue, Dec 11, 2012 04:42 hrs

The rupee on Monday closed marginally down at 54.51 against the US currency amid flat stock markets and recovery in dollar against major world currencies.

At the Interbank Foreign Exchange market, the local unit commenced strong at 54.30 a dollar from last close of 54.47. It immediately touched a high of 54.26 on hopes of rally in domestic equities. However, it fell back after hesitancy in local equities to a low of 54.57 before settling at 54.51.

Bonds react downward

Government bonds reacted downwards on fresh selling pressure from banks and companies. The 8.15 per cent government security maturing in 2022 moved down to Rs 99.86 from Rs 99.87 previously, while its yield held steady at 8.17 per cent.

Call rates recover
Overnight money rates recovered at the money market here on Monday on good demand from borrowing banks. The rate finished higher at 7.90 per cent.

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