Rupee ends higher at 60.47

The rupee ended 20 paise higher at 60.47 a dollar against the previous close of 60.67 on the back of gains in the domestic equity market and foreign institutional investors pouring money into bonds on reports of an upgrade in India’s credit rating. Meanwhile, the inter-bank call money rate, the rate at which banks borrow short-term funds from one another to tide over liquidity mismatches, ended higher at 7.95 per cent from Thursday’s close of 7.75 per cent. The yield on India’s 10-year benchmark bond maturing in 2024, ended flat at 8.51 per cent. Prices rose a tad to ₹ 99.22 from ₹ 99.21. Our BureauBond yields and prices move in opposite directions.