MUMBAI - The rupee remained range-bound in quite inter-bank forex market trades today. The Indian unit opened at Rs 39.38 to a dollar. In early trades, the rupee was seen in the 39.37-39.41 band. The rupee was later seen in the in a 6-7 paisa band. After weakening to Rs 39.39/dollar levels, the rupee finally closed at Rs 39.37/38 to the greenback. "Dollar inflows are still poor," said a dealer at a brokerage. A dealer in a foreign bank said that the State Bank of India (SBI) sold dollars in the spot market.Call rates shoot upMUMBAI - Inter-bank call money rates shot up by over 300 basis points to 13 per cent on Wednesday after the major lenders, including SBI, UTI and LIC stayed away from the market. The call rates opened at 9.25 - 9.50 per cent.The rates shot up in the afternoon session and most of the trades were struck in the region of 11 -12 per cent, dealers said.Gold recovers on seasonal buyingMUMBAI - Gold prices recovered smartly by Rs 50 to close at Rs 3975 per 10 gram on the bullion market due to fresh buying in view of the coming wedding season. Silver also rallied by Rs 90 per kilo to finish at Rs 8225 on firm overseas advices, traders said. Standard gold opened better at Rs 3930 and rose further steeply to close at Rs 3975. 22-carat gold was nominally quotred higher at Rs 3675.Turel re-elected as BMC Bank chiefMUMBAI - Edulji H Turel was re-elected chairman of the Bombay Mercantile Co-operative Bank Ltd, the largest urban bank in the country. Turel is associated with the bank for the last 26 years and has also been the chairman of the bank earlier too. Waseemuddin Azmi has been re-elected as vice-chairman of the bank.
