The rupee ended slightly higher at 63.48 against the dollar, a day after factory output for July showed some improvement and consumer price index-based inflation eased a tad.

The Indian unit opened weaker at 63.70 from previous close of 63.50. Intraday, it moved between a high of 63.36 and a low of 64.18. The rupee gained 2.77 per cent against the American currency in the week’s trade.

The currency market participants will be clued into global developments early next week when the US Federal Reserve Chief, Ben Bernanke, is likely to announce steps to taper the whopping $85 billion per month fiscal stimulus programme.

Also, the new governor at the Reserve Bank of India, Raghuram Rajan, will make his first monetary policy statement on Friday next.

The rupee and other emerging market currencies are likely to remain a little edgy next week due to the global events, according to market participants.

Call Rates, G-Sec

The interbank call money rates, the rates at which banks borrow from each other to meet their short-term fund requirements closed a tad higher at 10.25 per cent from previous close of 10.20 per cent.

The 7.16 per cent benchmark government security, which matures in 2023, closed slightly higher at Rs 91.34 from previous close of Rs 91.26. Yields remained almost unchanged at 8.48 per cent.

satyanarayan.iyer@thehindu.co.in

(This article was published on September 13, 2013)
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