| Date: |
24-09-2013 |
| Subject: |
Rupee opens lower at 62.85 per dollar |
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Mumbai: The Indian rupee on Tuesday opened lower at 62.8550 per dollar against its Monday’s close of 62.5975. The rupee is Asia’s second worst-performing currency this year, losing 12.53%.
Month-end dollar demand from importers is putting pressure on the rupee. The Reserve Bank of India (RBI) is largely staying away from the currency market for the last couple of days, say currency dealers.
Yield on the 10-year bond was at 8.826% compared with its Monday’s close of 8.874%.
The government on Monday said its second half borrowing programme will remain intact at Rs.2.35 trillion and that it will meet its fiscal deficit target set this year.
At 9.14am, the local currency was trading at 62.8350 per dollar, down 0.38%. India’s equity benchmark Sensex was trading at 19,848.11 points, down 0.27%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 80.461, up 0.02% from its previous close of 80.449.
Source : livemint.com
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