Rupee gains 38 paise; bonds, call rates up

The rupee gained 38 paise to close at a month's high of 61.52 against the dollar on Monday after local stocks surged and exporters and banks sold dollars. The rupee was also supported by weakness in the dollar overseas after disappointing US jobs data announced last weekend eased concerns about the Federal Reserve's tapering of the stimulus programme, a forex dealer said.

Bonds, call rates up
The government securities (G-Sec) rose further on persistent buying support from banks and corporates and the call money rates also ended higher at the overnight call money market here on Monday due to fresh demand from banks. The 8.83 per cent government security maturing in 2023 climbed to Rs 100.76 from Rs 100.45 previously, while its yield moved down to 8.71 per cent from 8.76 per cent. The overnight call money rate ended higher at 8.75 per cent from 7.80 per cent last Friday. It moved in a range of 9.00 per cent and 8.25 per cent.