The Indian rupee ended lower as shares ended weak and importers bought dollars. But, dollar sales from exporters limited fall.
The spot rupee closed lower at Rs 50.44 per USD as against its previous close of Rs 50.32.
The government bonds ended higher almost a rupee-and-half because RBI's unexpected rate cuts lifted sentiment. RBI Governor, D Subbarao's comments fan hopes of further rate cuts going ahead. Surfeit liquidity and fall in international crude oil prices may have added to buying.
The widely traded 6.05%, 2019 paper closed sharply higher at Rs 99.07 as against its previous close of Rs 97.56.
