The rupee appreciated about 16 paise (from previous close) in intra-day trade to 53.68 against the dollar due to selling of the American currency by some banks and exporters.
The rupee had closed at 53.84 against the American unit on Friday.
Month-end demand for dollar from oil importers is likely to keep the rupee volatile.
Also, the proposed auction of Rs 5,385 crore (about $1 billion) of State Government Securities on Tuesday (October 23) by the Reserve Bank of India on behalf of eight states in the country is likely to attract some inflows. This may have the potential to strengthen the rupee further.
Call rates, G-Secs
The inter bank call rates opened higher at 8.10 per cent against Friday’s close of 7.90 per cent.
The 8.15 per cent government security, which matures in 2022, opened slightly higher at Rs 100.16 (yield: 8.11 per cent). It had closed at Rs 100.13 (yield: 8.12 per cent) on Friday.
