Forex

Rupee opens stronger on European central bank's bond-buying plan

Beena Parmar Mumbai | Updated on March 12, 2018

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The rupee today opened stronger against the dollar at 55.54 on stronger domestic and Asian equity markets after the European Central Bank announced bond buying measures on Thursday.

It had closed higher at 55.61 against the American currency on a stronger euro.

At 10.18 am, the domestic unit was trading steady at 55.60 per US dollar. The BSE-benchmark Sensex was trading higher by 286.74 points or 1.65 per cent at 17,631.75.

Asian markets and the euro also gained after the European Central Bank charted out a bond-buying scheme to calm the euro zone’s debt crisis. Further, robust US jobs data supported the global markets.

Call rates and G-secs

The overnight call money market opened lower at 7.75 per cent from its previous close of 8 per cent on Thursday. Currently, rates of the call money market were trading at 7.50 per cent.

The 10-year benchmark 8.15 per cent Government security was trading marginally lower at Rs 99.85 (yield: 8.17 per cent) from a close of Rs 99.92 (yield: 8.16 per cent) on Thursday.

>beena.parmar@thehindu.co.in

Published on September 06, 2012

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