The rupee today made sharp gains of over a rupee at 55.67 against the dollar on stronger equity markets and steep rise in the Euro.
The domestic currency oscillated from an intra-day low of 56.66 to end at a day’s high (55.67) from a close of 56.80 on Thursday. It opened 19 paise higher at 56.61 on the Interbank Foreign Exchange market.
“High dollar selling from the foreign banks, steep rise in euro on positive moves from the EU summit and oil importers staying off the markets led the rupee gains,” said a chief dealer of a nationalised bank.
Further, the NDF (Non-Deliverable Forwards) were at a discount as compared to the local markets leading to increase in dollar selling, the deader added.
Call rates and G-Secs
The call money rates closed higher at 8.20 per cent from as close of 8 per cent on Thursday. It touched a high of 8.50 per cent in the day’s trade.
The 9.15 per cent government bond maturing in 2024 ended lower at 105.46 (yield of 8.42 per cent) from Rs 105.58 (yield of 8.41 per cent) on Thursday.
The 8.79 per cent bond maturing in 2021 closed lower at Rs 102.59 (yield at 8.38 per cent) from Rs 102.71 (yield of 8.36) yesterday.