The rupee was trading a tad weak at 61.57 against the dollar at 11.28 a.m. local time.
The rupee opened weak by 10 paise at 61.65 per dollar against the previous close of 61.55 on the back of robust demand for dollars from oil importers.
According to government data released on Wednesday, wholesale inflation declined to a five-month low of 6.16 per cent in December.
“After witnessing gains in the last few sessions, the rupee was seen weakening slightly as the US dollar index strengthened taking cues from the better-than-expected retail sales data,” said Abhishek Goenka, Founder and CEO, India Forex Advisors.
The inter-bank call money rate, the rate at which banks borrow short-term money from each other, opened higher at 8.75 per cent against the previous close of 8.55 per cent.
Yield on the benchmark 8.83 per cent government bond, maturing in 2023, softened to 8.63 per cent from the previous close of 8.64 per cent. Prices ended sharply higher at Rs 101.29 from Rs 101.23.
