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The rupee recovered 10 paise during the day to end flat at 60.52 against the dollar on Monday on suspected dollar buying by banks on behalf of RBI.
The currency market had remained closed on Friday for Ganesh Chaturthi.
On Monday, the Indian unit opened flat from Thursday’s close of 60.52 per dollar. Heavy capital inflows into the domestic equity market supported the rupee to strengthen at 60.42 at the Interbank Foreign Exchange market.
However, the unit erased gains as forex dealers claim the RBI asked banks to buy dollars to prevent sharp appreciation in the Indian currency.
During the day, the rupee moved in the 11 paise range from 60.42 to 60.53 per dollar.
Call and G-Sec rates
The interbank call money rate, the rate at which banks borrow short term funds from one another, ended weaker at 7.00 per cent from the previous close of 8.60 per cent on Thursday.
The yield on 10-year benchmark 8.40 per cent government security, maturing in 2024, softened a tad to 8.54 per cent from Thursday’s close of 8.55 per cent. The price of the security rose marginally to Rs 99.00 from Rs 98.94.
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