MUMBAI, APRIL 30:  
The rupee strengthened by 12 paise to 54.12 against the dollar in the first session of trading on fresh selling of the American currency by exporters, amid sustained foreign capital inflows.
However, the rupee declined to 54.25 amid mild capital outflows. At 12.50 p.m., the Indian currency was trading at 54.23 per dollar.
Despite the fall, the rupee is likely to trade positive on expectations of a repo rate cut by the Reserve Bank of India in its annual monetary policy review on May 3.
Today, the unit opened stronger at 54.17 per dollar at the Interbank Foreign Exchange market. Further, the dollar’s weakness against Asian currencies and a robust opening in the domestic equity market supported the local currency.
The BSE benchmark index Sensex rose over 200 points (up 1.08 per cent) to 19,597 in early trades.
The Indian unit had closed higher at 54.24 on Monday.
Call rates, G-Sec
The interbank call money rates were trading slightly higher at 7.60 per cent from their previous close of 7.55 per cent on Monday. Intra-day, it has moved in the 7.50 to 7.70 per cent range so far.
The benchmark 8.15 per cent government security, which matures in 2022, was trading slightly lower at Rs 102.44 from Rs 102.49. Yields remained flat at 7.76 per cent.