Rupee falls 15p, posts first loss in 3 days

Falling for the first time in three days, the rupee on Monday erased initial gains to end 15 paise lower at 62.43 against the dollar on fag-end demand for the US currency from banks and importers, amid a tepid stock market. The rupee resumed higher at 62.15 per dollar as against the last weekend's level of 62.28 at the Interbank Foreign Exchange (Forex) Market. It firmed up further to 62.08 per dollar on selling of the US currency by banks and exporters.

Bonds gain, call rates surge
Government securities' (G-sec) prices gained on sustained buying support from banks and corporates and overnight call money rates finished higher on good demand from borrowing banks. The 8.83 per cent government security maturing in 2023 climbed to Rs 100.88 from Rs 100.59 previously, while its yield declined to 8.69 per cent from 8.74 per cent.

The 8.28 per cent government security maturing in 2027 shot up to Rs 93.62 from Rs 93.3975, while its yield slipped to 9.11 per cent from 9.14 per cent. The 8.12 per cent government security maturing in 2020 also moved up to Rs 95.55 from Rs 95.45, while its yield edged-down to 9.00 per cent from 9.02 per cent.

The overnight call money rate ended higher at 9.15 per cent from 8.050 last Friday, it moved in a range of 9.25 per cent and 8.40 per cent.

The 7.28 per cent government security maturing in 2019, the 8.24 per cent government security maturing in 2027 and the 8.32 per cent government security maturing in 2032, were also quoted up at Rs 93.5150, Rs 93.3350 and Rs 92.85, respectively.