The rupee ended 20 paise stronger against the dollar at a three-week high of 60.15 as banks and exporters sold the American dollars amid caution ahead of US jobs data.

The domestic unit opened higher at 60.20 per dollar against the previous close of 60.35 on the back of a robust opening in the domestic equity market.

According to dealers, dollar selling by exporters and banks and increased capital inflows helped the domestic currency to strengthen. Later, demand for the greenback capped the rupee’s overall gains as the rupee declined to 60.25 per dollar in the first session of trading.

However, weaker American currency overseas and continued dollar sales during the day supported the rupee to strengthen to 60.09 per dollar.

Experts say the rupee is likely to trade in the range of 59.50 to 60.50 per dollar range.

Call rate sheds; Bond yields almost flat

Amid high liquidity, the overnight call money rate (the rate at which banks borrow money from each other to overcome short-term liquidity mismatches) ended sharply weaker at 7.50 per cent from the previous close of 9 per cent.

The yield on 10-year benchmark 8.83 per cent bond, maturing in 2023, softened a tad to 8.80 per cent as against Wednesday’s close of 8.82 per cent. The price rose to Rs 100.13 from Rs 100. Bond yields and prices move in opposite directions.

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