Rupee edges up as govt hikes gold duties

The currency closed at 61.28 a dollar

The rupee strengthened marginally on Tuesday following the government's decision to raise import duties on gold and silver, but traders said the piecemeal approach failed to provide adequate confidence to the market. The partially convertible rupee closed at 61.28 a dollar. The unit moved in a wide 60.96 to 61.66 range during the session.

Bonds remain bearish
Government securities (G-sec) remained bearish on consistent selling pressure from banks and companies. The 7.16 per cent G-sec maturing in 2023 fell to Rs 91.83, while its yield climbed to 8.40 per cent.

Call rates end steady

Call money rates ended steady at the overnight market here as demand from borrowing banks matched supply. The rates ended steady at 10.25 per cent.

It moved in a range of 10.35 per cent and nine per cent.