The rupee rose 34 paise to 54.02 against the dollar at close on Friday due to increased selling of the US currency by exporters and banks. The Indian unit had closed at 54.36 on Thursday.

On Friday, the unit opened higher at 54.13 per dollar due to a stronger euro and positive opening in the domestic equity market.

Further, the government-owned Nalco’s offer-for-sale infused some capital flows supporting the rupee.

However, it declined to 54.22 due to mild capital outflows over uncertainty on Reserve Bank of India’s monetary policy due on March 19. A rate cut by the central bank is likely to boost the sentiments.

Call rates, G-Secs

The interbank call money rates closed slightly higher at 7.80 per cent from the previous close of 7.75 per cent.

The 8.15 per cent government security, which matures in 2022, closed slightly lower at Rs 101.84 from Thursday's close of Rs 101.83, while the yields remained unchanged from 7.86 per cent.

Beena.parmar@thehindu.co.in

(This article was published on March 15, 2013)
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