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The rupee appreciated by 10 paise on Monday to end at a near six-week high of 60.29 against the greenback, tracking a solid rally in local shares and continued dollar selling by exporters and some banks. Strong inflows also helped the rupee even as the widely tracked dollar index was up 0.10 per cent against six major global rivals, forex dealers said.
At the Interbank Foreign Exchange market, the rupee traded in a narrow range of 60.19 and 60.31, before concluding at its opening level of 60.29 - a rise of 10 paise or 0.17 per cent.
Bond yields drop, call rates surge
Government bond prices surged on firm buying support from banks and corporates. Overnight call money rates too, ended higher at the money market due to strong demand from borrowing banks. The 8.40 per cent government security maturing in 2024 climbed to ₹99.3050 from ₹99.18, while its yield edged-down to 8.50 per cent from 8.52 per cent. The overnight call money rates ended higher at 8.25 per cent as against last Friday’s 6.50 per cent. It moved in a range of 8.25 per cent and 7.90 per cent.
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