The rupee was trading higher by 33 paise at 61.09 against the dollar at 3.55 p.m. local time.
The domestic unit gained 32 paise to 61.08 per dollar in the opening trade against the previous close of 61.40 against the dollar on reports that the Government is looking to include its bonds on global benchmark indices.
As per news agency Reuters, quoting an anonymous source in Finance Ministry, the Government is looking to include its bonds on global benchmark indices.
“The trigger (for the gain) has been the news that the Government is in talks with JP Morgan to include the Government of India bonds in the emerging market indices,” a chief dealer of a public sector bank said. This will help bring more dollar into the Indian debt market, he said.
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 8.95 per cent.
The 7.16 per cent government security, which matures in 2023, opened higher at Rs 91.95 against the previous close of Rs 91.79. The yields softened to 8.39 per cent from the previous close of 8.42 per cent. Bond yields and prices move in opposite directions.
