The rupee gained 5 paise to open marginally higher at 62.05 against the previous close of 62.10 on the back of large dollar inflows. Investors were keenly watching US Federal Reserve Chair Janet Yellen’s comments on the US economy and monetary policy. Yellen said if the economy keeps improving, the Fed will take “further measured steps” to reduce the support it is providing through bond purchases. She sought to reassure investors that she will embrace the approach to interest rate policy that her predecessor Ben Bernanke pursued before he stepped down as chairman. A positive CPI data is likely to provide further support to the domestic unit, said a dealer.
Call rates up, bond yields fall
The inter-bank call money rate, the rate at which banks borrow money from each other to meet short-term liquidity mismatches, opened higher at 9.10 per cent against the previous close of 9 per cent. Yield on the 10-year benchmark 8.83 per cent Government security, maturing in 2023, softened to 8.76 per cent from 8.81 per cent. Bond prices rose to ₹100.4 from the previous close of ₹100.1. Bond prices and yields move in opposite direction.
Call rates up, bond yields fall
The inter-bank call money rate, the rate at which banks borrow money from each other to meet short-term liquidity mismatches, opened higher at 9.10 per cent against the previous close of 9 per cent. Yield on the 10-year benchmark 8.83 per cent Government security, maturing in 2023, softened to 8.76 per cent from 8.81 per cent. Bond prices rose to ₹100.4 from the previous close of ₹100.1. Bond prices and yields move in opposite direction.
Source: News in Hindi
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