The rupee wiped off its early losses and was trading a tad strong at 60.65 against the dollar at 4.10 p.m. local time on mild dollar selling by exporters amid weak equity market.
After opening weak by 14 paise at 60.82 per dollar against the previous close of 60.68 against the dollar on the back of fresh dollar demand from importers and gains in the dollar index, the domestic unit hovered in the range of 60.52 and 60.88 in the afternoon trade.
The US dollar index, which measures the greenback’s strength against major global currencies, was trading strong at 81.95, up 0.07 per cent against the previous close of 81.83.
The inter-bank call money rate, the rate at which banks borrow short-term funds from one another, opened higher at 8.25 per cent from Monday’s close of 7 per cent.
Yield on the 8.40 per cent 10-year government bond maturing in 2024 remained flat at 8.53 per cent. Prices lowered to Rs. 99.12 from the previous close of Rs. 99.11. Bond prices and yields move in opposite directions.