Rupee falls for second day

The rupee fell for a second session on Monday on dollar demand from private oil firms, with the currency finding some support from continued strong inflows into local stocks. The rupee closed at 61.52/53 a dollar compared with 61.27/28 on Friday. The partially convertible currency found some support from continued strong foreign fund inflows into local stocks, which has propelled the shares to a near three-year high.

Bonds turn bearish
Government securities (G-secs) turned bearish on selling pressure from banks and companies. The 7.16 per cent G-sec maturing in 2023 dropped to Rs 90.70 from Rs 91.01 previously, while its yield rose to 8.60 per cent from 8.55 per cent.

Call rates end higher
Call money rates ended higher at the overnight market due to good demand from borrowing banks. The rates ended higher at nine per cent from 6.50 per cent on Friday.