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Rupee ends higher by 6 p against dollar

In line with stock markets, the rupee ended higher by 6 paise at 60.07 against the dollar on fresh selling of the American currency by banks and exporters in view of strong capital inflows.

The rupee resumed higher at 59.98 per dollar as against the last closing level of 60.13 at the interbank foreign exchange market.

After moving in a narrow range, it settled at 60.07, a gain of 6 paise from its previous close.

Pramit Brahmbhatt, Veracity Group CEO, said: “Today, the rupee appreciated as corporates were seen selling dollars. Exporters too were seen selling dollars at higher levels, but the dollar demand from oil importers capped the rupee gain. Dollar index is also trading weak which helped Rupee futures to appreciate almost quarter per cent.”

Government securities (G-Sec) rose on good buying support from banks and corporates, while the overnight call money market rate ended lower due to lack of demand from borrowing banks.

The 8.83 per cent government security maturing in 2023 climbed to Rs 100.45 from Rs 100.1725.

The 8.28 per cent government security maturing in 2027 advanced to Rs 94.03 from Rs 93.83, while its yield fell to 9.06 per cent from 9.08 per cent.

The 8.24 per cent government security maturing in 2027 also gained to Rs 93.87 from Rs 93.67, while its yield edged down to 9.06 per cent from 9.08 per cent.

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