The rupee ended 13 paise higher at 61.50 to the dollar against the previous close of 61.63 on the back of dollar sales by banks and exporters. A note from India Forex Advisors said, “The domestic currency was seen holding its gains on expected flows from the easing policies of the European Central Bank and the Bank of Japan which held the currency from depreciating. Globally, the US dollar weakened against a basket of currencies on weak non-farm payroll data which gave the rupee a strong opening today.” In intra-day trade, the domestic unit touched a high of 61.44 and a low of 61.55.

Call rates, bond yields drop

The inter-bank call money rate, the rate at which banks borrow short-term funds from one another, ended lower at 7.80 per cent from the previous close of 8.15 per cent. Yield on the 10-year benchmark 8.40 per cent government security, maturing in 2024, softened to 8.17 per cent from the previous close of 8.20 per cent. The price of the bond rose to ₹101.45 from ₹100.20.

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