Rupee snaps 3-day losing streak

The rupee on Wednesday snapped a three-day losing streak by ending 12 paise higher at 55.68 on fag-end selling of dollars amid the euro gaining strength. The rupee resumed higher at 55.75 per dollar as against 55.80 per dollar at the Interbank Foreign Exchange (Forex) market on mild selling of dollars from banks. It then hovered in a range of 55.55-55.92 per dollar before ending the day at 55.68, showing a gain of 12p or 0.2 per cent from its last close.

Bonds end mixed
Government securities (G-sec) ended mixed with a positive bias, on alternate bouts of buying and selling. The 8.79 per cent G-sec maturing in 2021 moved up to Rs 103.19 from Rs 103.18 yesterday, while yield held steady at 8.29 per cent. The 8.15 per cent G-sec maturing in 2022 shot up to Rs 100.76 from Rs 100.45, while its yield declined to 8.04 per cent from 8.08 per cent.

Call rates finish stable
Call rates finished stable at the overnight call money market on Wednesday on alternate bouts of demand and supply. The overnight call money rate settled stable at yesterday’s closing level of 8.05 per cent. It moved in a range of 8.10 per cent and eight per cent.

RBI under the LAF purchased securities worth Rs 69,115 crore from 30 bids at the one-day repo auction at a fixed rate of eight per cent.