The rupee ended slightly higher at 55.12 against the dollar on robust FII inflows.

The local currency, which had closed at 55.33 on Monday, opened stronger at 54.95 against the greenback.

“Initially there were heavy inflows, so the rupee gained,” a chief dealer with a public sector bank said. “The rupee, however, reversed its earlier gains in the later half of the trading session as the demand for dollars increased from oil importers.”

Intraday, the rupee moved between a high and low of 54.80 and 55.90, respectively.

Currency markets are keenly looking for cues on further monetary stimulus from US Federal Reserve.

Call rate, G-Secs

The interbank call rates closed higher at 8.10 per cent compared with a previous close of 7.90 per cent.

The widely traded 9.15 per cent government security, which matures in 2024, closed at Rs. 106.43 (yield, 8.30 per cent) compared with Rs. 106.68 (yield, 8.27 per cent).

The 8.15 per cent government security maturing in 2022 closed at Rs. 100.38 (yield, 8.09 per cent) compared with Rs. 100.67 (yield, 8.05 per cent).

satyanarayan.iyer@thehindu.co.in

(This article was published on July 17, 2012)
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