At the Interbank Foreign Exchange (Forex) market, the domestic unit commenced better at 58.74 a dollar from previous close of 58.77, which is its all-time low on a closing basis. However, in a session marked with volatility the rupee moved erratically in a range of 58.61 and 58.91 against the US dollar. It ended at 58.70, a rise of 7 paise or 0.12%.
Traders are hoping Fed chairman Ben Bernanke will continue with the plan to buy $45 billion in treasuries and $40 billion in mortgage-backed securities each month.
Yields range-bound
Bond yields edged lower, tracking slight gains in the rupee.
The benchmark 10-year bond yield closed down 2 basis points (bps) at 7.26%. It moved in a range of 7.26% to 7.28% in the session.