Rupee ends tad higher at 59.25

Our Bureau Updated - March 12, 2018 at 05:08 PM.

rupee

For the second consecutive day, the rupee nudged up 2 paise to end marginally higher at 59.25 against the dollar maintaining caution ahead of the inflation data which was released after market hours.

The domestic currency had ended at 59.27 on Wednesday.

Thursday, the unit opened weaker at 59.34 per dollar on mild dollar demand from banks and importers and weaker global markets.

However, capital flows into the domestic equity market helped the rupee gain to 59.24 at the Interbank Foreign Exchange market.

BSE-benchmark Sensex ended at 25,576 points, stronger by 102 points (0.40 per cent) over its previous close.

Intra-day, the rupee traded in a narrow range of 59.24 and 59.36 against the dollar, moving 12 paise.

Call rate closes lower

Amid very high liquidity, the overnight call money rate (the rate at which banks borrow money from each other to overcome short-term liquidity mismatches) closed lower at 7.05 per cent from Wednesday’s close of 7.50 per cent. It moved in a wide range of 8.25 per cent and 6.00 per cent.

The 8.83 per cent benchmark bond maturing in 2023 declined a tad to Rs 101.80 from the previous close of Rs 101.88, while its yield hardened slightly to 8.54 per cent from 8.53 per cent previously.

Bond yields and prices move in opposite direction.

Published on June 12, 2014 11:59