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Rupee dips most in 10 months

Source : BUSINESS_STANDARD
Last Updated: Mon, Oct 08, 2012 19:31 hrs
A shopkeeper poses for a picture as he counts Indian currency notes at his shop in Jammu

The rupee fell the most this year as investors sought the perceived safety of the dollar before European finance ministers met on Monday to discuss a regional debt crisis.

The rupee declined 1.5 per cent to 52.65 per dollar here, the biggest drop since December 12, according to data compiled by Bloomberg.

Bonds recover on good demand
Government securities (G-sec) recovered on good buying support from banks and companies.

The 8.33 per cent G-sec maturing in 2026 climbed to Rs 100.73 from Rs 100.53 previously, while its yield declined to 8.24 per cent from 8.26 per cent.

The 8.15 per cent G-sec maturing in 2022 surged to Rs 99.99 from 99.20, while its yield inched down to 8.15 per cent from 8.16 per cent. The 8.97 per cent G-sec maturing in 2030 also rose to Rs 105.36 from Rs 105.23, while its yield eased to 8.39 per cent from 8.40 per cent.

Call rates end higher
Call rates remained high at the overnight money market here on Monday, on good demand from borrowing banks.

The rate ended higher at 8.10 per cent from 7.70 per cent last Friday. It moved in a range of 8.10 per cent and 7.90 per cent.

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