The rupee closed nearly unchanged on Tuesday, after having traded slightly stronger for most of the session helped by a globally weaker dollar, as month-end demand for the US currency from oil firms weighed.
Trading was largely range-bound as hopes that Iran's nuclear deal with world powers would lower oil prices were tempered by doubts about how quickly the accord would translate into higher supplies.
The partially convertible rupee ended steady at 62.51/52 a dollar compared to its close on Monday. It moved in a range of 62.28 to 62.53 a dollar during the session but was largely wedged between 62.35 and 62.45 levels for most part of the day.
Bonds recover
Government securities (G-secs) recovered on fresh buying support from banks and companies. The 8.83 per cent G-sec maturing in 2023 climbed to Rs 100.60 from Rs 100.50 on Monday, while its yield inched down to 8.74 per cent from 8.75 per cent. The 7.16 per cent G-sec maturing in 2023 rose to Rs 88.17 from Rs 76.82, while its yield fell to 9.04 per cent from 9.09 per cent. The 8.28 per cent G-sec maturing in 2027 also shot up to Rs 93.40 from Rs 93.22, while its yield moved-down to 9.13 per cent from 9.15 per cent.
Call rates end stable
Call money rates ended steady as demand from borrowing banks matched supply. The rates finished stable at 8.70 per cent.
Trading was largely range-bound as hopes that Iran's nuclear deal with world powers would lower oil prices were tempered by doubts about how quickly the accord would translate into higher supplies.
The partially convertible rupee ended steady at 62.51/52 a dollar compared to its close on Monday. It moved in a range of 62.28 to 62.53 a dollar during the session but was largely wedged between 62.35 and 62.45 levels for most part of the day.
Bonds recover
Government securities (G-secs) recovered on fresh buying support from banks and companies. The 8.83 per cent G-sec maturing in 2023 climbed to Rs 100.60 from Rs 100.50 on Monday, while its yield inched down to 8.74 per cent from 8.75 per cent. The 7.16 per cent G-sec maturing in 2023 rose to Rs 88.17 from Rs 76.82, while its yield fell to 9.04 per cent from 9.09 per cent. The 8.28 per cent G-sec maturing in 2027 also shot up to Rs 93.40 from Rs 93.22, while its yield moved-down to 9.13 per cent from 9.15 per cent.
Call rates end stable
Call money rates ended steady as demand from borrowing banks matched supply. The rates finished stable at 8.70 per cent.