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The rupee on Monday failed to maintain initial gains and ended lower by five paise at 60.21 against the dollar on fag-end demand for the US currency from banks and importers.
The rupee opened higher at 60.09 a dollar against last weekend's level of 60.16 at the interbank foreign exchange (Forex) market.
It firmed up further to 60.00 to the dollar on initial dollar selling from banks and exporters amid capital inflows into equity markets and weakness of the greenback abroad.
Government securities firmed up further on sustained buying support from banks and corporates, while the overnight call money rates recovered on fresh demand from borrowing banks. The 8.83 per cent government security maturing in 2023 hardened further to Rs 100.5950 from Rs 100.13, while its yield moved down to 8.79 per cent from 8.81 per cent.
The 8.28 per cent government security maturing in 2027 shot up to Rs 94.1950 from Rs 93.70, while its yield declined to 9.03 per cent from 9.10 per cent. The 8.35 per cent government security maturing in 2022 also strengthened to Rs 97.0450 from Rs 96.79, while its yield slipped to 8.87 per cent from 8.92 per cent.
The 8.24 per cent government security maturing in 2027, the 7.28 per cent government security maturing in 2019 and the 8.12 per cent government security maturing in 2020 were also quoted higher at Rs 93.97, Rs 94.08 and Rs 96.2950, respectively.
