Mumbai: The Indian rupee was trading down by 2 paise at 62.24 against the dollar at 1.14 p.m. local time. According to dealers, the weakness in the domestic unit can be attributed to bunch up dollar demand due to a public holiday today.
The dollar index was in the green against a basket of major currencies, on the back of support from minutes of the US Federal Reserve, which showed policymakers remained committed to reducing its massive stimulus at the current pace.
The inter-bank call money rate, the rate at which banks borrow money from each other to meet short-term requirements, opened lower at 8.1 per cent from the previous close of 9 per cent.
Yield on the 10-year benchmark 8.83 per cent Government security, maturing in 2023, remained flat at 8.76 per cent. Bond prices rose to ₹100.40 from ₹100.38. Bond prices and yields move in the opposite direction.
Bureau Report
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