The rupee was trading stronger at 55.47 against the dollar in intra-day trade as dollar selling by exporters and some banks helped the Indian unit.
The local unit opened stronger at 55.43 versus Friday’s close of 55.53.
The rupee also took positive cues from the US Federal Reserve Chief’s assurance that he will do all that is possible to support the US economy. A similar assurance by several Euro Zone members has also strengthened the euro against the dollar.
A depreciating currency is considered detrimental to an import dependent country like India, because the country has to pay more rupees for each dollar of product (like oil) imported.
Call Rates, G-Secs
The interbank call rates opened at 8 per cent from the previous close of 7.95 per cent.
The 8.15 per cent government security, which matures in 2022, opened at Rs 99.45 (yield:8.24 per cent) from the previous close of Rs 99.38 (yield: 8.23 per cent).
