The rupee ended stronger on dollar flows by custodian banks. This is the second straight day when the rupee appreciated against the dollar. It ended at 62.08 compared with Wednesday's close of 62.44 per dollar. The rupee had opened at 62.30 and during intra-day trades it touched a high of 61.98 and a low of 62.37 per dollar.
"Rupee strengthened because of dollar flows by custodian banks, though we are in the month-end dollar demand time. These flows helped the rupee," said N S Venkatesh, chief general manager and head of treasury, IDBI Bank and chairman of the Fixed Income Money Market and Derivatives Association of India.
Bonds recover
Government securities (G-secs) recovered on fresh buying support from banks and comapnies. The 7.16 per cent G-sec maturing in 2023 rose to Rs 89.96 from Rs 89.5475 previously, while its yield declined to 8.72 per cent from 8.79 per cent. The 8.28 per cent G-sec maturing in 2027 climbed to Rs 93.50 from Rs 93.10, while its yield eased by 9.11 per cent from 9.16 per cent. The 8.12 per cent G-sec maturing in 2020 also gained to Rs 95.01 from Rs 94.75, while its yield fell by Rs 9.07 per cent from Rs 9.13 per cent.
Call rates finish stable
Call money rates finished higher at the market here on Thursday due to good demand from borrowing banks.
