Rupee gains 16 paise against dollar

Paring early losses, the rupee on Thursday gained 16 paise to close at 53.58 against the US dollar on the back of a rise in local stocks amid fresh selling of the American currency by exporters.

At the Interbank Foreign Exchange (Forex) market, the domestic unit resumed weak at 53.80 a dollar from Tuesday’s close of 53.72 and further touched a low of 53.84 on initial dollar demand from importers. However, it recovered to a high of 53.42 on emergence of fresh dollar selling by exporters on hopes of fall in dollar value. It finally settled at 53.58, a gain of 16 paise, or 0.30 per cent.

Bonds recover on good demand
Government securities (G-sec) recovered on good buying support from banks and companies. The 8.15 per cent G-sec maturing in 2022 climbed to Rs 100.13 from Rs 100.08 previously, while its yield inched down 8.13 per cent from 8.14 per cent. The 8.33 per cent G-sec maturing in 2026 surged to Rs 100.86 from 100.80, while its yield edged down to 8.22 per cent from 8.23 per cent.

Call rates end higher
Call rates finished higher at the overnight market here on Thursday on good demand from borrowing banks. The overnight rate ended higher at 8.15 per cent from 8.10 per cent previously. It moved in a range of 8.15 per cent and 8.10 per cent.