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Our Bureau

MUMBAI: The domestic currency closed at 45.4050 on Thursday, unchanged from Wednesday's closing levels at 45.40/4050 in a dull forex market.

Dealers said the rupee remained range-bound between 45.3950 and 45.41 on lack of any significant demand for the greenback.

Dollar supplies remained consistent, with state-run banks stepping in to mop up excess liquidity, in order to prevent the rupee from rising sharply.

Forwards eased further with the six-month premium closing at 0.55 per cent (0.77 per cent) while the premium for one year ended at 0.50 per cent (0.63 per cent).

Bond prices traded in a narrow band, but dipped by around 15 paise across longer maturities in a dull government securities market.

The 8.07 per cent 2017 paper opened at Rs 123.70/75 but got dealt to a low of Rs 123.64, while the 7.46 per cent 2017 opened at Rs 118.65/70 and got dealt to a low of Rs 118.62.

Dealers said volumes remained thin, except for a few stray deals in the market. "Most players were not active in the market and are awaiting the inflation figures before they take a view on the market," said a dealer.

Call rates hovered between 4.25 per cent to 4.50 per cent levels in the inter-bank market.

In the one-day repo under LAF, RBI received and accepted 43 bids amounting to Rs 23,130 crore at the rate of 4.50 per cent.

More Stories on : Forex | Govt Bonds

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