Forex

Rupee stays higher at 55.72/dollar

Beena Parmar Mumbai | Updated on June 15, 2012 Published on June 15, 2012

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The rupee was trading at 55.72 per dollar at 1.30 pm.

The domestic unit opened higher at 55.68 against the greenback on strong Asian and global markets. It hovered around 55.64 to 55.78 range amid positive equity markets.

The rupee had ended lower at 55.80 to the American currency on Thursday on the back of 7.55 per cent inflation in May and dim hopes of rate cut by the Reserve Bank of India on June 18.

Traders expect the forex market to remain range-bound as it awaits the outcome of Greece elections over the week-end and the RBI monetary policy review.

Call Rates, G-Secs

The call money rate opened higher at 8.05 per cent from the previous close of 7.95 per cent. It was trading in the range of 8.00 to 8.20 per cent.

The 9.15 per cent government bond maturing in 2024 was trading lower at Rs 105.85 from its yesterday’s close of Rs 106. The yield rose to 8.38 per cent from 8.36 per cent.

The 10-year benchmark 8.79 per cent bond maturing in 2021 fell to Rs 102.86 with the yield rising at 8.34 per cent. The bond had closed at Rs 102.96 with a yield of 8.33 per cent on Thursday.

>beena.parmar@thehindu.co.in



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Published on June 15, 2012
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