The rupee on Thursday strengthened to a five-and-a-half month high to close at 51.75 against the dollar.

The domestic unit opened higher at 52.01 against the dollar from its previous close of 52.16 on Wednesday. Intra-day, it moved in the range of 51.66 to 52.05 against the US dollar.

The reform measures such as raising the FDI limit in insurance and pension sectors are likely to further boost the rupee.

Rating agency Crisil today said the Indian currency is likely to stay in the range of 51 – 53 levels till March FY'13. The Indian unit has gained two per cent in the last four sessions.

Call Rates and G-Secs

The overnight call money rates closed lower at 7.75 per cent from Wednesday’s close of 8.05 per cent.

The 10-year benchmark 8.15 per cent government security maturing in 2022 ended marginally lower at Rs 99.98 from Rs 100, while yields closed at 8.14 per cent from its previous close of 8.15 per cent.

Beena.parmar@thehindu.co.in

(This article was published on October 4, 2012)
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