The rupee recovered from its five month-low to end stronger on Thursday at 61.23 against the dollar, tracking positive sentiments on Government approving FDI liberalisation in Defence and the Railways. The rupee opened 16 paise stronger at 61.37 per dollar against the previous close of 61.53 in early trade at the Interbank Foreign Exchange market. Rising global geo-political tensions and capital outflows as foreign investors booked profits weakened the rupee to 61.54. The RBI likely sold dollars starting at around 61.50 levels to limit rupee depreciation, a currency dealer said. The RBI and stronger Asian currencies helped the Indian unit recover to 61.21 in the late afternoon trades.
Call rates drop, bond yields slip
The inter-bank call money rate ended at 7.50 per cent from Wednesday’s close of 9 per cent. Yield on the 8.40 per cent 10-year government bond maturing in 2024 fell a tad to 8.63 per cent from the previous close of 8.64 per cent. Prices rose to ₹98.45 from ₹98.39. Our Bureau