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The rupee on Wednesday rose to its highest level in over a month and closed 10 paise up at 61.75 against the dollar following sustained selling of American currency by exporters and some banks, amid firm local equities.
At the Interbank Foreign Exchange (Forex) market, the local currency commenced weak at 61.90 a dollar from the previous close of 61.85. It eased to a low of 61.92 in early trades. However, helped by positive cues, the rupee later rebounded to an over one-month intra-day high of 61.6650, before concluding at 61.75 - a rise of ten paise or 0.16 per cent. On Tuesday, it had gained 19 paise or 0.31 per cent.
Meanwhile, government securities ended mixed owing to alternate bouts of buying and selling. The 8.83 per cent 10-year benchmark bond maturing in 2023 fell to Rs 99.90 from Rs 99.9375 previously, while its yield held stable at 8.84 per cent. The 8.12 per cent government security maturing in 2020 moved down to Rs 94.60 from Rs 94.65, while its yield edged-up to 9.21 per cent from 9.20 per cent.
The 7.28 per cent government security maturing in 2019 also declined to Rs 92.9975 from Rs 93.04, while its yield inched-up to 8.98 per cent from 8.97 per cent. However, the 8.28 per cent government security maturing in 2027 gained to Rs 92.42 from Rs 92.40, while, its yield edged-down to 9.27 per cent from 9.28 per cent.
The 6.07 per cent government security maturing in 2014 edged-up to Rs 99.4025 from Rs 99.40, while, its yield climbed to 9.07 per cent from 9.04 per cent.
The 9.20 per cent government security maturing in 2030 also gained to Rs 99.70 from Rs 99.65, while its yield inched down to 9.23 per cent from 9.24 per cent.
The overnight call money rate ended higher at 8.50 per cent from 7.10 per cent on Tuesday. It moved in a wide range of 9.00 per cent and 7.65 per cent.
