Rupee trading stronger at 54.11 - Hindu Business Line

Mumbai, April 25:   The rupee was trading stronger at 54.11 against the dollar in the first session at the Interbank Foreign Exchange market on Thursday. The Indian unit opened stronger at 54.18 against the dollar on stronger domestic equity market and a weaker American currency. The domestic unit had closed weaker at 54.39 on Tuesday. The forex market was closed on Wednesday for Mahavir Jayanti. The BSE-benchmark Sensex was also trading higher by 73 points (0.38 per cent higher) at 19,253. At 3 p.m., the Indian currency declined to 54.19 per dollar. However, expectations of a reduction in repo rate (rate at which banks borrow short-term funds from the Reserve Bank of India) in the monetary policy review on May 3 is likely to support the rupee. Call rates, Govt bonds The interbank call money rates opened lower at 7.60 per cent from their previous close of 7.75 per cent on Tuesday. Currently, it was trading at 7.65 per cent. The benchmark 8.15 per cent government security, which matures in 2022, was trading lower at Rs 102.44 from Tuesday's close of Rs 102.67. Yields increased to 7.76 per cent from 7.73 per cent. via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFBPzDBqTHVKzzOyA-4HVTZjQyLhw&url=http://www.thehindubusinessline.com/markets/forex/rupee-trading-stronger-at-5411/article4652988.ece?ref=wl_markets

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