The rupee today gained to close at 54.57 against the dollar due to heavy dollar selling by banks and exporters. The Indian unit had closed at 54.81 on Friday.

On Monday, the unit resumed almost flat from Friday at 54.80 per dollar at the Interbank Foreign Exchange Market. Persistent selling of the American currency by banks and exporters mainly boosted the rupee value against the dollar, said a dealer with a public sector bank.

Intra-day, the rupee moved in the range of 54.54 to 54.82 per dollar.

Besides, strengthening of euro against the dollar overseas with a firm domestic equity market supported the rupee.

Call Rates, G-Secs spurt

The inter-bank call money rates closed higher at 7.70 per cent from Friday’s close of 7 per cent. The call money market moved in the 7.50 to 8.60 per cent range.

The 8.15 per cent government security, which matures in 2022, ended higher at Rs 101.52 from a close of Rs 101.38 on Friday, while the yields declined to 7.91 per cent from 7.93 per cent.

beena.parmar@thehindu.co.in

(This article was published on April 8, 2013)
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