Mumbai, May 2:
The rupee opened strong at 60.20 per dollar against the previous close of 60.35 on the back of a strong opening in the domestic equity market.
According to dealers, dollar selling by exporters and banks and increased capital inflows helped the domestic currency to strengthen. However, gains in the dollar index overseas capped the rupee's overall gains.
The overnight call money rate (the rate at which banks borrow money from each other to overcome short-term liquidity mismatches) opened lower at 8.5 per cent against the previous close of 9 per cent.
The yield on 10-year benchmark 8.83 per cent bond, maturing in 2023, softened a tad to 8.81 per cent from the previous close of 8.82 per cent. The price rose to ₹100.08 per dollar against the previous close of 100. Bond yields and prices move in opposite directions.
(This article was published on May 2, 2014)
via Business - Google News http://ift.tt/R9El82
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