Five-day winning streak for rupee; up 6 paise at 61.63

The rupee on Wednesday ended six paise higher at 61.63 against the dollar to extend gains to the fifth straight day on sustained selling of the US currency by banks and exporters in view of strong capital inflows.

Forex traders said strong equity markets mainly supported the rupee sentiment as the benchmark BSE Sensex rose further by 104.2 points or 0.36 per cent to an all-time closing high of 28,889 points.

On the other hand government bonds (G-Secs) surged further on sustained buying support from banks and corporates while, the overnight call money rate remained lower at the money market due to lack of demand from borrowing banks amid ample liquidity in the banking system.

The 8.40 per cent G-Secs maturing in 2024 climbed to Rs 104.7 from Rs 104.5 previously, while its yield eased to 7.7 per cent.

The 8.60 per cent G-secs maturing in 2028 rose to Rs 107.23 from Rs 106.8250, while its yield fell to 7.72 per cent.

The 8.27 per cent G-sec maturing in 2020 advanced to Rs 102.5 from Rs 102.3, while its yield moved down to 7.68 per cent from 7.73 per cent.

The 8.15 per cent government security maturing in 2026 also gained to Rs 104.0475 from Rs 103.87, while its yield went down 7.62 per cent from 7.65 per cent.