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The rupee ended marginally lower at 61.42 against the dollar amid weaker Asian currencies and stable capital inflows.
The domestic unit had closed at 61.40 a dollar on Monday. The markets had remained closed on Tuesday.
Wednesday, the unit opened slightly stronger at 61.36 on the back of stable capital inflows. Intra-day, the rupee moved between 61.34 and 61.49 at the Interbank Foreign Exchange market.
Dollar strengthened against Asian currencies on the back of a victory by Republicans in the United States' mid-term elections, ending uncertainty about the political climate in the US.
Global factors, including the European Central Bank policy meeting on Thursday and the US monthly jobs data on Friday, will likely determine the rupee's short-term direction this week.
Currency markets will remain close on Thursday.
Call rates rise, Bond yields drop to record lows
The inter-bank call money rate, the rate at which banks borrow short-term funds from one another, closed higher at 8 per cent from Monday’s close of 7.10 per cent. Intraday, the call money market moved in the range of 7.25 per cent and 8.15 per cent.
Yield on the 10-year benchmark 8.40 per cent government security, maturing in 2024, closed at over a record-year low of 8.19 per cent from the previous close of 8.25 per cent. The price of the bond closed sharply higher at Rs 101.36 from Rs 100.91.
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