The rupee on Tuesday gained 33 paise to close at 49.46/47 against the US currency in line with sharp rebound in local equities amid fresh dollar selling by exporters and some banks.
The domestic currency moved between 49.32 and 49.75 at the Interbank Foreign Exchange (Forex) market before settling up by 33 paise, or 0.66 per cent, at 49.46/47. Fresh dollar selling by exporters and some banks in anticipation of dollar falling overseas aided the rupee.
Bonds settle mixed
The government securities (G-Sec) improved further on sustained buying from banks and corporates. The 8.79 per cent (G-Sec) maturing in 2021 rose further to Rs 103.4375 from Rs 103.32 yesterday, while its yield moved down to 8.27 per cent from 8.28 per cent. The 9.15 per cent (G-Sec) maturing in 2024 also hardened to Rs 105.8850 from Rs 105.69, while its yield declined further to 8.39 per cent from 8.41 per cent previously. The 8.19 per cent (G-Sec) maturing in 2020 too firmed up to Rs 99.32 from Rs 99.18, while its yield slipped to 8.31 per cent from 8.33 per cent.
Call rate firms up
Call rate dropped sharply on excess liquidity in the banking system amid lack of buying interest from borrowing banks. The overnight call money rate dipped to finish at 8.60 per cent from 9.10 per cent on Monday before moving in a range of 9.15 per cent and 8.60 per cent.
