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The rupee gained 50 paise to end significantly higher at 60.78 to a dollar against the previous close of 61.28 at the Interbank Foreign Exchange market on Thursday on strong gains in the equity market and dollar selling by banks and exporters.
The Sensex and the Nifty rose nearly 0.7 per cent at the closing session on Thursday on sustained buying by funds and retail investors amid firm European cues.
According to forex dealers, the dollar’s weakness against other currencies helped prop up the domestic unit.
The dollar index, which measures its strength against major global currencies, was trading weak at 81.54 against its previous close of 81.59. In intra-day trade, the domestic unit touched a high of 60.76 and a low of 61.12. Our Bureau
The forex market is closed on Friday, August 15, on account of ‘Independence Day’.
Call rates rise, bond yields fall
The inter-bank call money rate, the rate at which banks borrow short-term funds from one another, ended higher at 8.50 per cent from Wednesday’s close of 7.25 per cent.
Yield on the 8.40 per cent 10-year government bond maturing in 2024 fell to 8.51 per cent against the previous close of 8.54 per cent. Prices rose to ₹99.20 from ₹99.05. Bond prices and yields move in opposite directions.
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