The rupee rose on Tuesday, snapping a three-session falling streak, as buncheddollar inflows due to the US holiday on Friday helped offset negative sentiment due to the sharp fall in domestic shares.
The partially convertible rupee ended at 59.78/79 a dollar compared with 60.0125/0225 on Monday. The unit moved in a range of 59.68 to 60.00 during the session.
Government bond (G-Sec) prices declined further on sustained selling from banks and corporates. The overnight call money rate remained higher due to firm demand from borrowing banks.
The 8.83 per cent 10-year benchmark bond maturing in 2023 dropped to Rs 100.63 from Rs 100.83, while its yield moved up to 8.73 per cent from 8.70 per cent previously.
The overnight call money rates ended higher at 9.00 per cent from Monday's closing level of 8.75 per cent. It moved in a range of 9.00 per cent and 8.00 per cent.
The Reserve Bank of India (RBI), under the Liquidity Adjustment Facility (LAF), purchased securities worth Rs 208.54 billion in 52-bids at the 1-day repo auction at a fixed rate of 8.00 per cent today morning, while it sold securities worth Rs 25.69 billion from 13-bids at the 1-day reverse repo auction at a fixed rate of 7.00 per cent last Friday.
