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The rupee closed slightly higher at 55.49 on mild dollar selling by foreign banks and a steady euro. It had closed at 55.57 against the dollar on Tuesday.
The domestic unit, which opened higher at 55.53, was trading range bound between 55.36 and 55.54 a dollar on Wednesday on a stable euro. Euro remained at a near seven-week high after the European Central Bank expressed hopes that it will act on containing Greece’s rising borrowing costs.
The rupee had strengthened to its highest level in more than a week on Tuesday tracking stronger euro and domestic equity markets. It has largely remained range-bound in August over Euro Zone uncertainty.
Call rates and G-secs
The overnight call money rates ended higher at 8.10 per cent from Tuesday’s close of 8 per cent. The call money moved in the range of 7.75 to 8.10 per cent.
The 8.15 per cent government bond maturing in 2022 climbed higher to close at Rs 99.51 (yield: 8.22 per cent) from a close of Rs 99.34 (8.25 per cent) on Tuesday.
The 8.33 per cent bond maturing in 2026 closed higher at Rs 99.56 (yield: 8.38 per cent) from previous close of Rs 99.41 (8.40 per cent) on Tuesday.
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