The rupee edged up by two paise to close at 61.84 against the greenback on Wednesday on stray dollar selling by exporters. Firm dollar overseas and sustained capital inflows, however, restricted the rupee rise, a forex dealer said. Some dollar demand from importers, mainly oil refiners, to meet their month-end requirements also capped the rupee rise, he added. The domestic unit commenced a tad higher at 61.85 a dollar from previous close of 61.86.
Bonds surge, call rates end higher
Government bonds surged on Wednesday on sustained buying support from banks and corporates. The overnight call money rate ended higher due to good demand from borrowing banks amid tight liquidity in the banking system. The 8.40 per cent 10-year benchmark bond maturing in 2024 rose to ₹101.68 from ₹101.5750 previously, while its yield moved down to 8.14 per cent from 8.16 per cent. The overnight call money rates ended higher at 8.05 per cent from yesterday’s close of 7.70 per cent.
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