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Our Bureau

MUMBAI: The rupee closed steady at 45.25/2550 per dollar on Tuesday, as against Monday's close at 45.24, in a subdued forex market on Tuesday.

Dealers said dollar supplies remained almost evenly matched with the demand from State-run banks that were mopping up excess dollars at RBI's behest. " There is still no serious corporate demand for the greenback. Which is why the rupee is in a tight range," said a dealer.

Meanwhile, in the forwards market, the premia for the six and twelve months ended at 0.45 per cent and 0.51 per cent respectively, compared to Monday's closing at 0.50 per cent and 0.45 per cent respectively.

Bond prices dipped by around 20-25 paise across maturities in a thin government securities market. Dealers said the market was devoid of any buying interest, with stray sales pushing down prices.

The 8.07 per cent 2017 paper got dealt at Rs 122.80 compared with Monday's level at Rs 123, the 7.46 per cent 2017 paper opened at Rs 117.90 and got dealt at Rs 117.76.

There is some amount of profit booking happening, but apart from that the market is not moving towards any particular direction, dealers said.

Call rates remained steady at 4.50 per cent in the inter-bank market. In the one-day repo under LAF, the RBI received and accepted 58 bids amounting to Rs 38,800 crore at the rate of 4.50 per cent.

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