The rupee shed 6 paise to 61.33 per dollar against the previous close of 61.27 on fresh demand for dollar from banks and importers, amid strengthening of the greenback overseas.
The domestic unit fell sharply on Friday on reports that the Government is considering to close the dollar swap window offered to oil companies.
Later, the RBI came out with a statement refuting the reports. “The OMC swap window remains operational. Any tapering of the window, as and when it occurs, will be done in a calibrated manner, the RBI said in a statement.
The RBI statement helped the rupee gain amid persistent selling of dollar by banks and exporters on the back of sustained capital inflows from foreign funds.
In addition, the weakening of dollar after the US lawmakers reached a deal to avoid the debt ceiling default and ended the 16-day partial government shutdown provided a breather to the rupee.
The shutdown has caused billions of dollars in losses and is expected to delay the tapering programme of the US Federal Reserve.
Call rates and G-Secs
The inter-bank call money rate, the rate at which banks borrow from each other to meet their short-term fund requirement, opened higher at 9.10 per cent against the previous close of 8.85 per cent.
The 7.16 per cent government security, which matures in 2023, opened stronger at Rs 91.1 against the previous close of Rs 90.701.
The yields softened to 8.53 per cent from 8.65 per cent. Bond yields and prices move in opposite directions.
The domestic unit fell sharply on Friday on reports that the Government is considering to close the dollar swap window offered to oil companies.
Later, the RBI came out with a statement refuting the reports. “The OMC swap window remains operational. Any tapering of the window, as and when it occurs, will be done in a calibrated manner, the RBI said in a statement.
The RBI statement helped the rupee gain amid persistent selling of dollar by banks and exporters on the back of sustained capital inflows from foreign funds.
In addition, the weakening of dollar after the US lawmakers reached a deal to avoid the debt ceiling default and ended the 16-day partial government shutdown provided a breather to the rupee.
The shutdown has caused billions of dollars in losses and is expected to delay the tapering programme of the US Federal Reserve.
Call rates and G-Secs
The inter-bank call money rate, the rate at which banks borrow from each other to meet their short-term fund requirement, opened higher at 9.10 per cent against the previous close of 8.85 per cent.
The 7.16 per cent government security, which matures in 2023, opened stronger at Rs 91.1 against the previous close of Rs 90.701.
The yields softened to 8.53 per cent from 8.65 per cent. Bond yields and prices move in opposite directions.
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