LM:Rupee closes at 62.77 on dollar demand from importers
Mumbai: The Indian rupee continued to decline against the dollar on Tuesday on demand for the US currency from importers.
The Indian rupee closed at 62.77 per dollar, down 0.27% against its previous close of 62.5975 per dollar.
The rupee had opened at 62.8550 per dollar and traded in the range of 62.4450 and 62.9075 per dollar.
Since January this year, the rupee has weakened 12.39% and has lost the second most among Asian currencies, after the Indonesian rupiah.
The dollar index, which measures the US currency’s strength against major currencies, was at 80.561, up 0.13% from its previous close of 80.449.
India’s benchmark equity index Sensex edged 19 points higher to 19,920.21.
Yield on the benchmark 10-year bond closed at 8.848%, down 0.3% compared with its previous close of 8.874%.
The inter-bank call money rate stood at 9.5%, unchanged from the previous close.
The government on Monday said its second half borrowing programme will remain unchanged at Rs.2.35 trillion and that it will meet its fiscal deficit target set this year.
