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The rupee ended unchanged on Wednesday as the dollar strength overseas and greenback buying by state run banks were offset by gains in local shares.
The partially convertible rupee ended at 60.12/13 to a dollar, unchanged from Tuesday's closing.
The rupee did not move significantly after data showed India's exports in June rose 10.22 per cent from a year earlier, as overall analysts called the numbers mixed.
"Any major reaction to the trade deficit data was not expected as the numbers were positive on certain fronts and negative on some others. The rupee will continue to trade in a narrow range until new cues come in," said Paresh Nayar, head of FX and fixed income at FirstRand Bank.
Government bond (G-sec) prices gained further on sustained buying support from banks and corporates. The 8.83 per cent 10-year benchmark bond maturing in 2023 climbed to Rs 100.65 from Rs 100.58, while its yield fell to 8.72 per cent from 8.74 per cent previously.
The overnight call money rate remained lower due to subdued demand from borrowing banks. The rates ended lower at 7.01 per cent from Tuesday's level of 8.50 per cent. It moved in a range of 8.75 per cent and 7.00 per cent.
Meanwhile, the Reserve Bank of India (RBI), under the Liquidity Adjustment Facility (LAF), purchased securities worth Rs 21,313 crore in 57-bids at the 1-day repo auction at a fixed rate of 8.00 per cent on Wednesday morning, while it sold securities worth Rs 6,420 crore from 8-bids at the 1-day reverse repo auction at a fixed rate of 7.00 per cent on Tuesday evening.
