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Snapping a six-day losing run, the rupee today closed six paise higher at 55.59 against the dollar on the back of good inflows in equities and dollar selling by some exporters. A weak dollar abroad aided the rupee sentiment. The rupee commenced lower at 55.70 a dollar from the previous close of 55.63. It immediately touched a low of 55.78 on initial caution in domestic equities and sustained dollar demand from importers, mainly oil refiners to meet their month-end requirements.
Bonds remain higher
Government securities surged on consistent buying support from banks and companies.
The 8.33 per cent government security maturing in 2026 climbed to Rs 108.33 from Rs 108.24 last Friday, while its yield inched down to 7.33 per cent from 7.34 per cent. The 8.15 per cent government security maturing in 2022 advanced to Rs 105.31 from Rs 105.27, while its yield held steady at 7.34 per cent. The 8.20 per cent government security maturing in 2025 jumped to Rs 106.99 from Rs 106.85 previously, while its yield edged down at 7.33 per cent from 7.34 per cent. The 8.07 per cent government security maturing in 2017, the 8.12 per cent government security maturing in 2020 and the 8.97 per cent government security maturing in 2030 were also quoted higher at Rs 102.92, Rs 105.21 and Rs 115.23, respectively.
Call rates end stable
Call money rates ended stable at the overnight market here today as demand from borrowing banks matched supplies. The overnight rate ended stable at 7.35 per cent. It moved in a range of 7.40 per cent and 7.20 per cent.
