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Re falls for third day down 9 paise

Agencies/Mumbai 23 Nov 12 | 12:18 AM

The rupee fell for a third day in a row to close at a fresh 2-1/2-month low of 55.21 against the dollar on Thursday, down by nine paise following sustained dollar demand from importers. However, firm stock markets and a slightly weak dollar abroad amid continued foreign fund inflows capped the fall, a forex dealer said.

At the Interbank Foreign Exchange market, the domestic currency commenced higher at 55.08 a dollar against previous close of 55.12 and immediately touched a high of 55.01 on strong local stocks and weak dollar overseas. Emergence of dollar demand from importers, mainly oil refiners, to meet their month-end requirements weighed on the rupee and it fell back to a low of 55.27 before concluding at 55.21, a fall of nine paise or 0.16 per cent.

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Bonds remain bearish, call rates finish higher
The government bonds remained lower on persistant selling pressure from banks and corporates, while overnight money rates finished higher at the call money market here on Thursday on good demand from borrowing banks.

The 8.15 per cent government security maturing in 2022 dipped to Rs 99.4950 from Rs 99.6125 previously, while its yield moved up 8.23 per cent from 8.21 per cent.

The 8.33 per cent government security maturing in 2026 slid to Rs 100.03 from Rs 100.23, while its yield edged up to 8.32 per cent from 8.30 per cent.

The 8.20 per cent government security maturing in 2025 dropped to Rs 98.93 from Rs 99.15, while its yield rose to 8.34 per cent from 8.31 per cent.

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Company Price Gain (%)
Dr Reddy's Labs2,013.756.30
Tata Motors307.753.78
St Bk of India254.153.69
Bajaj Auto2,811.253.36
Coal India278.453.23


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