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The rupee on Wednesday closed down by a marginal two paise at 54.17 against the dollar due to fag-end demand for the US currency on reports of defence-related payments.
Foreign investors pumped in Rs 976.99 crore (over $180 million) into domestic stocks on Wednesday, according to BSE provisional data. The rupee commenced higher at 54.10 against the dollar from yesterday’s close of 54.14 at the Interbank Foreign Exchange market. It moved in a range of 54.04-54.20.
Bonds maintain uptrend
Government securities surge on consistent demand from banks and companies. The 8.15 per cent government security maturing in 2022 shot-up to Rs 102.93 from Rs 102.61 yesterday, while its yield declined to 7.69 per cent from 7.74 per cent. The 8.33 per cent government security maturing in 2026 rose to Rs 104.89 from Rs 104.39, while its yield moved down to 7.73 per cent from 7.79 per cent. The 8.20 per cent government security maturing in 2025 climbed to Rs 103.78 from Rs 103.30, while its yield went down at 7.72 per cent from 7.79 per cent.
Call rates end higher
Call money rates recovered on fresh demand from borrowing banks. The rate finished higher at 7.30 per cent from previous close of 7.25 per cent. It moved in a range of 7.40 per cent and 7.20 per cent.
