Amid volatile trade, the rupee ended stronger at 54.21 against the dollar on the back of capital flows into the domestic equity markets.
The domestic unit had closed weaker at 54.39 on Tuesday. The forex market was closed on Wednesday for Mahavir Jayanti.
The rupee opened stronger on Thursday at 54.18 against the dollar on stronger domestic equity market and a weaker American currency.
The BSE-benchmark Sensex ended 227.5 points higher (up 1.19 per cent) at 19,407.
Intra-day, the Indian currency moved in the 54.11-54.26 range at the Interbank Foreign Exchange market.
Further, expectations of a reduction in repo rate (the interest rate at which banks borrow short-term funds from the Reserve Bank of India) in the monetary policy review on May 3 supported the rupee.
Call, bonds end lower
The inter-bank call money rates ended a tad lower at 7.65 per cent from their previous close of 7.75 per cent on Tuesday. Intra-day, it moved in the 7.30-7.65 per cent range.
The benchmark 8.15 per cent government security, which matures in 2022, closed lower at Rs 102.42 from Tuesday’s close of Rs 102.67. Yields jumped to 7.77 per cent from 7.73 per cent.
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