TH:Rupee trading weak at 63.70 on fresh dollar demand
The rupee was trading weak by 20 paise at 63.70 against the dollar at 3.57 p.m. local time.
The domestic unit shed 20 paise to 63.70 per dollar against the previous close of 63.50 on fresh demand for dollar from importers.
Factory output data released yesterday showed 2.6 growth in industrial output during July compared with a decline of 2.2 per cent in June and decline in consumer price index-based inflation to 9.52 per cent during August from 9.64 per cent in July.
According to dealers, the numbers are expected to bring some cheer to the market.
The inter-bank call money rates, the rates at which banks borrow from each other to meet their short-term fund requirements, opened higher at 10.3 per cent from the previous close of 10.20 per cent.
Bond yields remained flat from the previous close of 8.49 per cent. The 7.16 per cent government bond, which matures in 2023, opened higher at Rs 91.3 from the previous close of Rs 91.26.