Rupee gains 6 p on equity market rally

Jul 23 2014, 01:42 IST
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SummaryThe rupee resumed higher at 60.25 per dollar against the last closing level of 60.30 per dollar at the Interbank Forex Market.

Rebounding from one-month low, the rupee on Tuesday rose six paise to end at 60.24 against the US dollar on fresh selling of the American currency by exporters and positive cues from a strong domestic share market. The rupee resumed higher at 60.25 per dollar against the last closing level of 60.30 per dollar at the Interbank Forex Market.

Bonds edge up

Government bonds edged up on expectation the new 10-year debt at this week's auction will be sold at yields substantially below the current benchmark, leading to a re-pricing of existing debt. The new 10-year bond ended at 8.41% in the when-issued market with 29 trades reported, CCIL data show. Dealers estimate the bond could be sold at a coupon of 8.40-8.45%

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