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The rupee breached the crucial 61/$ mark due to the central bank’s status quo on interest rates and lack of clarity on when the liquidity tightening measures would end.
However, it recovered from the day’s lows to end marginally higher at 60.40 against the dollar after the Government announced measures to boost exports and attract more foreign capital.
Call, bond rates
The inter-bank call money rates, the rate at which banks borrow from each other, closed lower at 9.75 per cent from the previous close of 10.25 per cent.
The benchmark 7.16 per cent government security, which matures in 2023, closed higher at Rs 93.25 from the previous close of Rs 92.72. Yields softened to 8.17 per cent from 8.25 per cent.
The absence of a definite timeline to withdraw the liquidity tightening measures had resulted in a sharp jump in yields.
beena.parmar@thehindu.co.in
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