The rupee is trading muted after opening weaker at 55.57 against the dollar from Friday’s close of 55.50 on dollar demand from oil importers and weak Asian shares.
At 1: 45 pm, the Indian unit was trading steady at 55.53 against the dollar. It had touched a low of 55.65 per US dollar in the morning trade as the dollar rose against the euro and as month-end dollar demand from importers weighed in.
In addition, the Reserve Bank of India has also maintained its hawkish stance on policy rates in its annual report released last week.
Further, US Federal Reserve Chairman said "there is scope for further action by the Fed to ease financial conditions" in a letter to a US House panel. The chairman is likely to make a statement on the policy on Friday.
Call rates and G-Secs up
The overnight call money rates were trading steady at 8.05 per cent from its opening on Monday. It had closed at 7.95 per cent on Friday.
The 10-year benchmark 8.15 per cent government security maturing in 2022 was trading higher at Rs 99.76 (yield: 8.18 per cent) from its previous close of Rs 99.59 (yield: 8.20 per cent) on Friday.
