Mumbai: The rupee was trading weak by 9 paise at 60.61 against the dollar at 11.24 a.m. local time.After opening weak by 9 paise at 60.61 per dollar against the previous close of 60.52 against the dollar on fresh dollar demand from banks and importers, the domestic unit hovered in the range of 60.57 and 60.68 in the morning trade.
Forex dealers said besides dollar’s gains against other currencies, increased demand for the American unit from importers had put pressure on the rupee, but a higher opening in the domestic equity market limited the losses.
The domestic currency had lost two paise to close at 60.52 against the US currency in yesterday’s trade, following sustained dollar demand from importers amid firm cues from overseas.
The interbank call money rate, the rate at which banks borrow short-term funds from one another, opened higher at 7.5 per cent from the previous close of 7 per cent.
Yield on 10-year benchmark 8.4 per cent government security, maturing in 2024, remained flat at 8.54 per cent. Prices of the security rose marginally to Rs. 99.01 from Rs. 99.
Bureau Report
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