Thursday 17 October 2013

Rupee strengthens to 61.45 Vs dollar


The rupee gained 40 paise to 61.45 per dollar in the opening trade against the previous close of 61.85 on the back of weak dollar and firm domestic equity market.

The American currency had weakened as US Senate leaders on Wednesday night announced a deal to end the 16-day prolonged US shutdown that brought the world’s biggest economy close to a debt default.

According to currency dealers, the dollar index is expected to strengthen, which will weigh on the domestic unit.

Call rates, G-Secs

The inter-bank call money rate, the rate at which banks borrow from each other to meet their short-term fund requirements, opened higher at 9.10 per cent against the previous close of 9 per cent.

The 7.16 per cent government security, which matures in 2023, opened higher at Rs 90.56 against the previous close of Rs 90.35.

The yields softened to 8.62 per cent from 8.66 per cent. Bond yields and prices move in opposite directions.

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