The rupee on Wednesday ended higher by 13 paise to 54.55 against the dollar today on a stronger euro and positive domestic equity markets on positive vote on foreign direct investment (FDI) in retail.

The Indian currency had opened stronger at 54.57 per dollar from Tuesday’s close of 54.68 on the back of a seven-week high euro and a weak dollar. Intra-day, it moved between 54.40 and 54.63 range.

The domestic markets had gained on hopes of a favourable vote on the foreign direct investment in multi-brand retail due in the Parliament.

Post market hours, the government won the crucial FDI vote in the Lok Sabha which is likely to boost the rupee sentiments on Thursday. The reform will now be put to vote in the upper house or the Rajya Sabha on Thursday.

Further, lesser oil demand from importers supported the rupee.

Call rates and G-Secs

The overnight call money rates closed a tad softer at 8.05 per cent from its previous close of 8.10 per cent. Intra-day, it moved in the range of 7.90 to 8.10 per cent during the day.

The 10-year benchmark 8.15 per cent government security, maturing in 2022, ended flat from Tuesday’s close of Rs 99.86, while the yields remained unchanged at 8.17 per cent.

beena.parmar@thehindu.co.in

(This article was published on December 5, 2012)
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