The rupee gained against the dollar for the second consecutive session on Thursday to end 11 paise higher at 60.36.
The gains were on the back of stronger Asian currencies though limited by profit-taking on the domestic equity markets.
Thursday, the rupee opened almost flat at 60.46 as against Wednesday’s close of 60.47 at the Interbank Foreign Exchange Market.
It declined to 60.49 on capital outflows from the equity markets. Even as caution prevailed ahead of a key European Central Bank (ECB) meeting, stronger Asian currencies aided the rupee to strengthen to 60.33 per dollar.
Traders say any further monetary stimulus easing by the ECB could be a pump in more foreign inflows into the domestic equity market.
Call and Bonds
The interbank call money rate, the rate at which banks borrow short term funds from one another, ended weaker at 7.00 per cent from the previous close of 7.60 per cent.
The yield on 10-year benchmark 8.40 per cent government security, maturing in 2024, remained flat for the second straight session at 8.52 per cent. The price of the security nudged up to Rs 99.18 from Rs 99.17.
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