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The rupee ended stronger at 61.85 against the dollar as pressure of Ukraine crisis eases on the Asian and domestic equity markets.
Most Asian currencies started gaining after Russia's president ordered troops in military drills in central and western Russia to return to base. This raised hopes of an end to the possible war in Ukraine.
The domestic unit opened weaker at 62.12 per dollar as against the previous close of 62.04. During the afternoon trades, it strengthened to 61. 82 at the Interbank Foreign Exchange market on heavy capital inflows.
BSE-benchmark Sensex surged by 263 points (1.26 per cent) to end at 21,210 points at day’s close. According to dealers, the rupee is likely to trade in the 61.80 to 62.50 range for the rest of this week.
Call rates higher, Yields fall sharply
The inter-bank call money rate, the rate at which banks borrow money from each other, ended a tad higher at 7.10 per cent from the previous close of 7 per cent.
Yield on the 10-year benchmark 8.83 per cent Government security, maturing in 2023, softened to 8.83 per cent from 8.90 per cent. Bond prices rose to Rs 99.93 from Monday’s close of Rs 99.50.
Bond prices and yields move in the opposite direction.
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