Rupee slips to 62.37 against the dollar

New Delhi: The rupee was trading down at 62.37 at 4.30 pm at the Interbank Foreign Exchange. The rupee had closed at 62.26 on Tuesday.

Appreciation of the US dollar in overseas markets and fresh demand from importers weighed on the local currency.

The rupee opened the session at 62.32 and moved in a narrow range of 62.43-62.27.

Bonds, call rate

The yield on the 10-year benchmark 8.40 per cent government security maturing in 2024 rose a tad to 7.77 per cent from the previous close of 7.74 per cent.

The price of the security was trading lower at 104.08 from 104.25. Bond prices and yields move in opposite directions.

The inter-bank call money rate, the rate at which banks lend to each other to overcome overnight liquidity mismatches, was lower at 7.30 per cent against the previous close of 7.40 per cent.