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The rupee rose to a week's high on Wednesday, helped by gains in the euro, though gains remained under check as month-end dollar demand from oil companies continued to creep in at stronger rupee levels.
Traders said concerns over the expiry of the special currency swap windows opened by the Reserve Bank of India (RBI) at the end of this month were likely to limit any sharp upside in the rupee.
The concessional swap windows had attracted about $25 billion, RBI Deputy Governor H R Khan said on Monday.
The partially convertible rupee closed at a session high of 62.15/16 a dollar, the strongest since November 19 and above its close of 62.51/52 on Tuesday.
Bonds rise
Government securities (G-secs) rose on good buying support from banks and companies. The 8.83 per cent G-sec maturing in 2023 advanced to Rs 100.94 from Tuesday's Rs 100.60, while its yield declined to 8.69 per cent from 8.74 per cent.
Call rates end lower
Call money rates ended lower at the overnight market due to lack of demand from borrowing banks. The rates settled lower at 8.5 per cent from Tuesday's close of 8.7 per cent. It moved in a range of 8.8 per cent and 8.25 per cent.
