The rupee ended flat at 60.13 as the dollar’s strength in the overseas markets was offset by gains in the domestic equity market. Abhishek Goenka, Founder and CEO of India Forex Advisors, said, “The initial weakness in the rupee was mainly attributed to the strength in the US dollar, falling euro and weak Asian currencies. However, later during the session, it was seen appreciating amid firm equity markets and positive exports numbers.”
The benchmark Sensex gained 321 points on Wednesday after the RBI announced a series of measures to make fund-raising easier for infrastructure companies
The inter-bank call money rate, the rate at which banks borrow short-term funds from each other to tide over liquidity mismatches, ended sharply lower at 7.01 per cent from the previous close of 8.50 per cent.
The benchmark 8.83 per cent Government security, which matures in 2023, rose to ₹100.65 against ₹100.58 on Tuesday, while yields softened to 8.72 per cent against the previous close of 8.73 per cent.