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Rupee drops on fear of rain hitting inflation

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The on concern that will and spur food inflation.

The rupee declined 0.1 per cent to 55.3 per dollar in Mumbai. One-month implied volatility, a measure of exchange-rate swings used to price options, fell five basis points to 10.15 per cent.

Bonds remain lower
dropped on continued selling pressure from banks and corporates. The 8.15 per cent government security maturing in 2022 dipped to Rs 99.6 from 99.8 last Friday, while its yield rose to 8.2 per cent from 8.1 per cent.

Call rates recover
recovered at the overnight call money market on fresh demand from borrowing banks. The call money rate finished higher at 8.15 per cent from last Friday's closing level of eight per cent. It moved in a range of 8.1 per cent and 7.9 per cent.

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