 "Rupee gains on dollar selling by banks & exporters")
The rupee today gained 12 paise to close at 54.25 against the dollar on fresh selling by banks and exporters amid firm equity markets.
Persistent foreign capital inflows into equity markets amidst the weakness of the dollar abroad supported the domestic currency, dealers said. The rupee resumed higher at 54.35 per dollar as against the previous closing level of 54.37 at the Interbank Foreign Exchange Market.
Bonds trade bearish
Government bonds traded bearish on selling pressure from banks and companies.
The 8.15 per cent government security maturing in 2022 dropped to Rs 102.49 from last Friday's level of Rs 102.61, while its yield edged up to 7.76 per cent from 7.74 per cent. The 8.33 per cent government security maturing in 2026 dipped to Rs 104.29 from Rs 104.40, while its yield inched up to 7.80 per cent from 7.79 per cent. The 8.20 per cent government security maturing in 2025 eased to Rs 103.21 from Rs 103.24, while its yield held steady at 7.79 per cent.
Call rates end higher
Overnight money rates ended higher due to good demand from borrowing banks. The rate finished higher at 7.55 per cent from 6.75 per cent previously. It moved in a range of 7.60 per cent and 7.25 per cent.
Persistent foreign capital inflows into equity markets amidst the weakness of the dollar abroad supported the domestic currency, dealers said. The rupee resumed higher at 54.35 per dollar as against the previous closing level of 54.37 at the Interbank Foreign Exchange Market.
Bonds trade bearish
Government bonds traded bearish on selling pressure from banks and companies.
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The 8.15 per cent government security maturing in 2022 dropped to Rs 102.49 from last Friday's level of Rs 102.61, while its yield edged up to 7.76 per cent from 7.74 per cent. The 8.33 per cent government security maturing in 2026 dipped to Rs 104.29 from Rs 104.40, while its yield inched up to 7.80 per cent from 7.79 per cent. The 8.20 per cent government security maturing in 2025 eased to Rs 103.21 from Rs 103.24, while its yield held steady at 7.79 per cent.
Call rates end higher
Overnight money rates ended higher due to good demand from borrowing banks. The rate finished higher at 7.55 per cent from 6.75 per cent previously. It moved in a range of 7.60 per cent and 7.25 per cent.