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Ending the financial year on a stronger note, the rupee gained 19 paise on Tuesday to close at 62.49 against the dollar as banks and exporters sold dollars on stable inflows into the domestic equity market.
The domestic currency had closed 26 paise weaker at 62.68 on Monday.
Tuesday, the currency opened stronger at 62.61 as foreign investors participated in the domestic equity market.
Despite inflows, BSE-benchmark Sensex pared gains to end marginally weaker at 27957.49, down 18.37 points (0.07 per cent) from the previous close.
Sustained capital outflows amid firm dollar in Asian trade today capped the rupee rise, dealers said.
The domestic unit declined to 62.66 after which it gained in the second session of trade to 62.48 before ending at 62.49, showing a gain of 0.29 per cent.
Bond yields and Call Rates see sharp movements
The yield on 10-year benchmark 8.40 per cent Government security maturing in 2024, softened to 7.73 per cent from 7.76 per cent. During the day, the yields moved in a range of 7.72-7.75 per cent.
The price of the security rose to Rs 104.32 as against Rs 104.17. The prices and yields of bonds move in opposite direction.
Fluctuating widely on the last day of the financial year, the interbank call money rate, rate at which banks lend each other to meet overnight liquidity mismatches, closed almost flat at 7.80 per cent from Monday’s close of 7.75 per cent. Intra-day, it moved between 5.50 to 16.00 per cent range.
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