The rupee was trading strong at 59.22 against the dollar at 4.28 p.m. local time.
The rupee opened at a 10-month high of 59.48 per dollar against the previous close of 59.70 against the dollar on the back of strong inflows into the domestic equity market.
The markets cheered up to the exit poll prediction, released late Monday evening, of a comfortable victory for the Narendra Modi-led NDA Government in the national elections. The final election results will be released on Friday.
Call rates and G-Secs
The overnight call money rate (the rate at which banks borrow money from each other to overcome short-term liquidity mismatches) opened lower at 8.45 per cent against the previous close of 9 per cent.
The yield on 10-year benchmark 8.83 per cent bond, maturing in 2023, softened to 8.77 per cent from the previous close of 8.78 per cent. Bond prices dropped to Rs 100.33 from Rs 100.29. Bond yields and prices move in opposite directions.
