Rupee slips on dollar buying speculation
The rupee weakened, erasing earlier gains, on speculation importers stepped up purchases of the dollar to meet payments as the market will be shut for a local holiday tomorrow.
The rupee dropped 0.5 per cent to 53.74 a dollar, according to data compiled by Bloomberg.
Bonds remains weak
Government bonds eased further on continued selling from banks and corporates.
The 8.15 per cent government security maturing in 2022 softened further to Rs 100.08 from Rs 100.10 yesterday, while its yield edged up to 8.14 per cent from 8.13 per cent.
The 8.33 per cent government security maturing in 2026 also declined to Rs 100.80 from Rs 100.84, while its yield inched up to 8.23 per cent from 8.22 per cent previously.
Call rates end stable
Call rates ended stable on alternate bouts of demand and supply.
The overnight rate moved in a small range of 8.10 per cent and 7.95 per cent before settling at its overnight closing level of 8.10 per cent.