Rupee ends weak on importer dollar buying

The rupee ended weak on Thursday, dragged down by month-end importer dollar demand and lower stocks, while uncertainty over the Iraq turmoil kept traders cautious. However, good dollar inflows prevented the unit from sliding sharply despite domestic stocks falling by nearly one per cent.

The rupee ended at 60.14/60.15 to the dollar after trading in a narrow 60.08-60.20 band compared with Wednesday's close of 60.1250/1350.

Foreign funds have bought shares worth $2.3 billion and debt worth $2.90 billion so far in June, taking total inflows in the year to $9.9 billion and $10.5 billion, respectively.

Bond prices slip

Government bond (G-sec) prices slipped on fresh selling from banks and corporates.

The 8.83 per cent 10-year benchmark bond maturing in 2023 dropped to Rs 100.6050 from Rs 100.80, while its yield moved up to 8.73 per cent from 8.70 previously.

Call rate ends lower

The overnight call money rate ended lower due to lack of demand from borrowing banks. It finished at 7.10 per cent from 8.00 per cent on Wednesday. It moved in the range of 8.40 per cent and 6.50 per cent.