 "Rupee weakens on month-end dollar demand")
The rupee once again weakened against the dollar in early trades on Monday after a sharp recovery was recorded on Friday. The weakening was due to month-end dollar demand, said currency dealers.
At 10:15am, the rupee was trading at Rs 64.07 per dollar compared with Friday's close of Rs 63.35. In early trades, it breached the Rs 64 per dollar mark to hit Rs 64.13 per dollar. The rupee had opened at Rs 63.69 per dollar.
Last week the rupee had touched an all-time low of Rs 65.56 against the dollar after Federal Reserve minutes hinted that US was on course to start tapering the stimulus as early as next month.
Currency dealers expect the Reserve Bank of India (RBI) to step in by way of intervention through state-run banks later during the day.
Meanwhile, tracking the rupee, government bond yields rose. The yield on the 10-year benchmark government bond 7.16% 2023 was quoting at 8.32% at 10:15am compared with previous close of 8.26%.
At 10:15am, the rupee was trading at Rs 64.07 per dollar compared with Friday's close of Rs 63.35. In early trades, it breached the Rs 64 per dollar mark to hit Rs 64.13 per dollar. The rupee had opened at Rs 63.69 per dollar.
Last week the rupee had touched an all-time low of Rs 65.56 against the dollar after Federal Reserve minutes hinted that US was on course to start tapering the stimulus as early as next month.
Currency dealers expect the Reserve Bank of India (RBI) to step in by way of intervention through state-run banks later during the day.
Meanwhile, tracking the rupee, government bond yields rose. The yield on the 10-year benchmark government bond 7.16% 2023 was quoting at 8.32% at 10:15am compared with previous close of 8.26%.
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