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MUMBAI: The rupee closed steady at 45.55/56 per dollar on Monday in a lacklustre forex market, down by a notch from Friday's closing of 45.5450/5550.

Dealers said the market was thin and the rupee traded in a narrow range after opening the day at 45.54/55. "The supplies and demand seem to be evenly matched. Even though there is no corporate demand, RBI continues to sterilise the excess liquidity", said a dealer with a private sector bank.

Meanwhile, forwards inched up, with the six-month premium closing at 0.22 per cent (0.03 per cent), while the one-year premium ended at 0.37 per cent (0.22 per cent).

Bond prices fell by around 25 paise in some maturities, amid low volumes in a `flat' Government securities market. According to dealers, the market was devoid of any buying interest, due to apprehensions of rising inflation and a possible hardening of interest rates. Volumes in the market were down to Rs 11,00 crore against Rs 10,000 crore in an active day. The 8.07 per cent 2017 paper opened at Rs 121.82/85 and fell to Rs 121.55/60.

Call rates remained steady around 4.50 per cent levels in the inter-bank market.

In the one day repo, under LAF, the RBI received and accepted 53 bids amounting to Rs 24,775 crore at the rate of 4.5 per cent while the fortnightly repo received 9 bids amounting Rs 31,35 crore at 4.5 per cent.

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