The Indian rupee slipped by 24 paise at 69.75 against US Dollar on increased demand for the greenback from importers and banks and rising crude oil prices. Besides, strengthening of the American currency in the overseas market weighed on the domestic currency.
The yields on the 10-year government bonds were up 0.15% to 7.39% from its previous close of 7.38%.
On the economy front, the Reserve Bank of India said it will inject long-term liquidity worth $5bn into the system through foreign exchange swap arrangement with banks for three years.
The rupee ended higher by 17 paise to close at a two-month high of 69.54/$.
The Reserve Bank of India’s (RBI) reference rate for the dollar stood at Rs69.62, while for the Euro, it was at Rs78.57. The RBI’s reference rate for the Yen stood at Rs62.55; the reference rate for Great Britain Pound (GBP) was Rs91.15.
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