Rupee has worst month since May

Last Updated: Thu, Nov 01, 2012 05:48 hrs

The rupee completed its biggest monthly loss since May, after the International Monetary Fund and the central bank forecast the slowest economic growth for the nation in almost a decade.

The rupee declined 1.8 per cent this month to 53.82 a dollar in Mumbai, according to data compiled by Bloomberg. The currency, which rose 0.3 per cent on Wednesday, touched 54.21 earlier, the weakest level since September 21.

Bonds remain lower
Government bonds dropped on continued selling pressure from banks and companies.

The 8.15 per cent government security maturing in 2022 dipped to Rs 99.56 from 99.78 yesterday, while its yield rose to 8.21 per cent from 8.18 per cent.

The 8.33 per cent government security maturing in 2026 fell to Rs 100.23 from Rs 100.54, while its yield surged 8.30 per cent from 8.26 per cent. The 8.19 per cent government security maturing in 2020 plunged to Rs 99.62 from Rs 99.83, while its yield gained to 8.26 per cent from 8.22 per cent.

Call rates end higher
Call money rates finished higher at the overnight market here on Wednesday on good demand from borrowing banks.

The rate finished higher at 8.15 per cent from 8.05 per cent yesterday. It moved in a range of 8.15 per cent and eight per cent.

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