Friday Rupee closed at 60.62

The Rupee has closed at 61.08 on Wednesday. It opened almost flat at 61.06 a day after the markets remained close for polling in the country’s financial capital. Intraday, the rupee moved in 60.53-61.15 range.

The Indian currency gained on Friday to close stronger at 60.62 against the doller on the back of strong doller inflows from an infrastructure company and the RBI’s government bond auction. The RBI’s 20;000 crore government bond auction was also seed aiding the Indian unit.

The overnight call money rate ( the rate at which banks borrow money from each other to overcome liquidity mismatches ) opened higher at 8.75% against the previous close of 7.1%.

The yield on 10 year benchmark 8.83% bond, maturing in 2023, softened a tad to 8.84% from the previous close of 8.85%. Prices of the bond rose to Rs 99.88 from Rs 99.85.
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