The rupee was trading marginally strong by 6 paise at 62.30 against the dollar at 11.39 a.m. local time on mild dollar selling by banks and exporters.
The domestic unit opened a tad weak at 62.40 per dollar against the previous close of 62.36 against the dollar despite positive economic data emanating from the Government and RBI over the past few days.
Market players believe that the rupee is likely to remain in the 61-63/$ range as there is uncertainty as to when the US Fed will roll back its monetary stimulus.
The rupee is expected to appreciate because of higher-than-expected GDP growth and a more benign current account deficit.
But oil marketing firms getting back to the market to meet their dollar demand (a dedicated window earlier) has not allowed the domestic unit to gain.
Call rates, G-secs
The inter-bank call money rate, the rate at which banks borrow from each other to meet their short-term requirements, opened higher at 7.15 per cent against the previous close of 6.78 per cent.
The 7.16 per cent benchmark government security, which matures in 2023, opened flat from the previous close of Rs 88.04. Yields remained flat at 9.06 per cent.
