Rupee ends higher, bonds lower

The rupee ended firm against the US dollar as banks sold the greenback following the rise in local share indices and the dollar's weakness globally.

The spot rupee closed higher at Rs 47.06 per USD as against its previous close of Rs 47.40 per USD.

Government bonds closed down as profit taking emerged post big rise on  Tuesday. Fall in US bonds also weighed on prices. But hope that RBI will keep rates steady has been cemented by Finance Minister's comments on Tuesday tempered the fall.

The widely traded 6.90%, 2019 paper ended lower at Rs 97.40 as against its previous close of Rs 97.74.