The rupee ended higher at 54.57 against the dollar on the back of higher forex inflows which outweighed the dollar demand from oil importers.

A stronger euro towards the end of the day’s trade also helped the rupee.

The Indian currency opened a tad lower at 54.78 from the previous close of 54.75 against the dollar, but then quickly gained to 54.58 due to capital inflows.

The local unit then pared early gains and was trading lower at 54.76 against the dollar in intra-day trade as dollar demand from oil importers caught up with the inflow of the American currency for a brief period.

Intraday, the rupee moved between a high and low of 54.56 and 54.78, respectively.

Over the next 10 days, currency traders will keep an eye on the factory output (IIP) figures, inflation data and also the earnings outcome of key companies.

Call rates, G-Secs

The interbank call money rates closed lower at 7.95 per cent from the previous close of 8.08 per cent.

The 8.15 per cent government security, which matures in 2022, closed higher at Rs 101.78 (yield: 7.87 per cent) from the previous close of Rs 101.67 (yield: 7.89 per cent).

satyanarayan.iyer@thehindu.co.in

(This article was published on January 10, 2013)
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