Rupee up 21 paise at 54.18 in early trade - Hindu Business Line

Mumbai, April 25:   The rupee today opened stronger at 54.18 against the dollar at the Interbank Foreign Exchange market on stronger domestic equity market and a weaker American currency. The Indian unit had closed weaker at 54.39 on Tuesday. The forex market was closed on Wednesday for Mahavir Jayanti. The BSE-benchmark Sensex was trading higher by 122 points (or 0.64 per cent higher) at 19,302. At 9.30 a.m., the Indian currency declined to 54.24 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. The benchmark 8.15 per cent government security, which matures in 2022, was trading marginally lower at Rs 102.63 from Tuesday's close of Rs 102.67. Yields increased to 7.74 per cent from 7.73 per cent. Beena.parmar@thehindu.co.in via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFaClKjhi5a0J_wambp2qwwJGMiBw&url=http://www.thehindubusinessline.com/markets/forex/rupee-up-21-paise-at-5418-in-early-trade/article4652988.ece

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