Snapping its two-day losing streak, the rupee recovered by 9 paise at 64.04 against the US dollar on fresh selling of the greenback by banks and exporters on hopes of fresh foreign capital inflows into the equity market. The rupee opened higher at 64.01 against last weekend’s level of 64.13 and hovered in a range of 63.92 and 64.07 before concluding at 64.04.
Bonds decline, call rates ease
The government bond prices declined due to renewed selling by banks and corporates as well as profit-taking by market participants in the run-up to the RBI monetary policy meet. The 7.72 per cent government security maturing in 2025 moved down to ₹99.35 from the weekend level of ₹99.40, while its yield remained stable at 7.81 per cent. The overnight call money rates eased marginally to 6.75 per cent from last Friday’s closing level of 6.80 per cent.
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