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Re up on speculation of exporters selling $

Source : BUSINESS_STANDARD
Last Updated: Thu, Nov 01, 2012 19:50 hrs
An employee arranges Indian currency notes at cash counter inside a bank in Agartala

The rupee rose for a third day on speculation exporters repatriated their foreign earnings to take advantage of a more favourable exchange rate.

The rupee advanced 0.2 per cent to 53.71 a dollar in Mumbai, according to data compiled by Bloomberg. The currency touched 54.21 yesterday, the lowest level since September 21. It lost 1.8 per cent last month, the most since May.

Bonds rise on good buying
Government securities (G-sec) rose on good buying support from banks and companies.

The 8.15 per cent G-sec maturing in 2022 surged to Rs 99.72 from Rs 99.56 yesterday, while its yield dropped to 8.19 per cent from 8.21 per cent.

Call rates end lower
Call money rates ended lower at the overnight market here on Thursday due to lack of demand from borrowing banks, amidst ample liquidity in the banking system.

The rates closed lower at eight per cent from 8.15 per cent yesterday. It moved in a range of 8.10 per cent and 7.90 per cent.


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