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The rupee closed stronger at 62.07 against the dollar, in line with other Asian currencies gaining against the American currency.
The Indian unit had closed at 62.30 on Tuesday. Mild inflow of dollars and sentiments helped the rupee gain, according to a trader. Intra-day, it moved in a narrow range of 62.07 to 62.27. According to traders, the rupee is likely to remain range-bound in the 61.80 to 62.60 band this week unless some clear signals emerge, traders added. Marketmen are looking at inflation data, due next week, to ascertain if the Reserve Bank of India will spring a positive surprise in terms of key rates on January 28.
Call rates, G-Sec The inter-bank call money rate, the rate at which banks borrow short-term money from each other, ended flat at 8.75 per cent from Tuesday’s close. The yield on benchmark 8.83 per cent government security, maturing in 2023, also remained almost flat at 8.80 per cent from the previous close of 8.79 per cent. Prices ended weaker at Rs 100.16 from Tuesday’s close of Rs 100.24
satyanarayan.iyer@thehindu.co.in
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