The rupee on Wednesday ended a tad stronger at 61.53 to the dollar against the previous close of 61.55 amid thin trading volumes and gains in the domestic equity market. A dealer with a public sector bank said the nationwide bank union strike contributed to thin trading volumes. According to a note by India Forex Advisors, the domestic currency was trading in a narrow band in the absence of major drivers from the US zone.
Call rates, bond yields dip
The inter-bank call money rate, the rate at which banks borrow short-term funds from one another, ended lower at 7.50 per cent from the previous close of 8.95 per cent. Yield on the 10-year benchmark 8.40 per cent government security, maturing in 2024, softened to 8.15 per cent from the previous close of 8.17 per cent. The price of the bond rose to ₹101.58 from ₹101.39.