Rupee washes out early gains, ends 6 paise down at 54.92

Even as stocks rose, the rupee on Tuesday surrendered initial gains and closed six paise lower at 54.93 on late demand for the American currency from importers.

However, a smart rise in stocks and weak dollar overseas cushioned the rupee’s fall to some extent, said forex brokers.

Bonds higher
Government securities (G-sec) surged on sustained demand from banks and companies. The 8.15 per cent G-sec maturing in 2022 climbed to Rs 101.79 from Rs 101.70 yesterday, while its yield moved down to 7.87 per cent from 7.89 per cent.

Call rates end lower
The call money rates ended lower at the overnight call money market here on Tuesday due to lack of demand from borrowing banks.

The rate finished lower at 6.75 per cent from seven per cent previously.