The rupee on Tuesday gained a hefty 58 paise against the US currency to end its five-session falling streak on fresh dollar selling by exporters and banks. Suspected intervention by the central bank and also hopes of more capital inflows into equity markets helped the rupee to bounce back, a dealer said. At the Interbank Foreign Exchange (Forex) market, the domestic unit settled at 50.69/70, a gain of 58 paise, or 1.13 per cent, over the last close.
In the past five sessions, it had fallen by 1.09 paise or 2.17 per cent.
Bonds decline on selling pressure
The government securities (G-Sec) declined further on sustained selling pressure from banks and corporates. The 8.79 per cent (G-Sec) maturing in 2021 moved down to Rs 101.8450 from Rs 102.05 yesterday, while its yield rose to 8.50 per cent from 8.47 per cent. The 9.15 per cent (G-Sec) maturing in 2024 declined to Rs 105.21 from Rs 105.41, while its yield moved up to 8.47 per cent from 8.44 per cent.
Call rate also ends lower
Call rate also ended lower on overnight call money market here on Tuesday due to lack of demand from borrowing banks. The overnight call money rate finished lower at 8.50 per cent from yesterday’s closing level of nine.
