Rupee rises 19 paise

Our Bureau |PTI | | Updated on: Mar 12, 2018

rupee

The rupee gained 19 paise to end at 62.38 against the previous close of 62.57 a dollar on the back of a modest recovery in the domestic equity market.

The BSE Sensex ended at 20,310.74, up 49.71 points or 0.25 per cent and the NSE Nifty ended at 6,036.30, up 13.9 points or 0.23 per cent.

According to Abhishek Goenka, Founder and CEO of India Forex Advisors, investors would be keenly watching the US non-farm payrolls and India’s advance economic growth estimates, which are scheduled for release on Friday.

In intra-day trade, the domestic unit touched a high of 62.38 and a low of 62.54.

The dollar index, an indicator of six major global rivals, was up a mere 0.03 per cent as the US currency was showing some weakness ahead of the US jobs data.

Pramit Brahmbhatt, CEO, Alpari Financial Services, (India) said taking cues from stocks, the rupee appreciated over a quarter per cent. Now traders are waiting for India’s advance economic growth estimates for 2013-14.

Call rates fall, bond yields rise

The interbank call money rate, the rate at which banks borrow money from each other to meet short-term liquidity mismatches, ended sharply lower at 7.50 per cent against the previous close of 8.50 per cent. The yield on the benchmark 8.83 per cent Government security, maturing in 2023, hardened to 8.71 per cent from 8.68 per cent.

The price fell to ₹100.70 from the previous close of ₹100.78. Bond prices and yields move in opposite directions.

Published on February 06, 2014
COMMENTS
This article is closed for comments.
Please Email the Editor

You May Also Like

Recommended for you