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Despite a weak opening, the rupee today gained to 52.17 against the dollar on persistent dollar selling as uncertainty looms over the Spain bailout timing.
Subdued Asian markets lead the domestic unit to open lower at 52.55 from its previous close of 52.40 per US dollar on Monday. India’s foreign exchange markets were closed on Tuesday.
Domestic reform announcements and monetary stimulus measures by major central banks may support the currency in the current slowing global economic growth.
Call rates and G-Secs
The overnight call money rates were trading at 8 per cent. It had opened at 8.10 per cent from its previous close of 8.15 per cent.
The 10-year benchmark 8.15 per cent government bond maturing in 2022 was trading slightly higher at Rs 99.98 (yield: 8.15 per cent) from a close of Rs 99.91 (yield: 8.16 per cent) on Monday.
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