The rupee was trading strong by 12 paise at 62.18 against the dollar at 12.40 p.m. local time.
The rupee opened strong by 13 paise at 62.17 per dollar against the previous close of 62.30 due to favourable inflows in the emerging markets on the back of weaker-than-expected US jobs data.
The US non-farm payrolls report over the week-end showed that the US unemployment rate fell to 6.6 per cent in January from 6.7 per cent in December.
Abhishek Goenka, Founder and CEO of India Forex Advisors, said: “The main takeaway from the labour market report was that the US economy continued to recover, albeit at a slower than anticipated pace. In some ways, this was good news because it meant that the Federal Reserve won’t taper asset purchases too quickly.’’
Call rates, G-secs
The interbank call money rate, the rate at which banks borrow money from each other to meet the short-term liquidity mismatches, opened sharply higher at 9.65 per cent from Thursday’s close of 8.75 per cent.
Yield on the benchmark 8.83 per cent Government security, maturing in 2023, softened to 8.71 per cent from 8.73 per cent.
Price rose to Rs. 100.72 from the previous close of Rs. 100.59. Bond prices and yields move in opposite direction.
