Tracking the euro and global markets, the rupee remained volatile in the afternoon session.
The domestic unit erased initial gains and was down 15 paise at 55.30 against the US dollar on fresh demand for the American currency from banks and importers. The greenback strengthened in the overseas markets as well.
At 1.40 pm, the Indian unit, which had opened lower at 55.14 against the previous close of 55.07, was trading at 55.12 against the dollar.
Rise in global oil prices to a 12-week high will continue to weigh on the rupee with higher dollar demand from oil companies.
Call Rates and G-Secs
The overnight call rates were trading flat from its previous close of 8.05 per cent. It had opened higher at 8.10 per cent.
The 8.33 per cent government bond maturing in 2026 was trading higher at Rs 100.20 (yield: 8.30) from the previous close of Rs 100.02 (8.33 per cent).
The 8.15 per cent government bond maturing in 2022 was trading higher at Rs 100.10 (yield: 8.13 per cent) from its previous close of Rs 99.99 (yield: 8.15 per cent).
