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Our Bureau

MUMBAI: As the dollar gained strength in the global markets, the rupee fell against the greenback by about 5 paise to close on Monday at 45.30.

The rupee on Monday opened at 45.28/29 with the intra-day high being 45.27.

There was not much demand for the dollar from corporates. Supplies that came into the market in the latter half of the day were mopped up by the regulator, said a dealer in a private sector bank.

Activity was dull in the forward market with premia almost unmoved. The six-month forward closed at 0.34 per cent (0.39 per cent) and the one-year forward ended at 0.46 per cent (0.49 per cent).

In a knee-jerk reaction, G-sec prices fell by 20-40 paise on the news of the Rs 60,000 crore worth of market stabilisation bonds to be floated in the year ahead. The market had expected the bonds to mop up a smaller amount and fearing liquidity constraints prices fell, said a dealer in a bond house.

The 7.37 percent 2014 paper, which opened at Rs 116.40 and closed 20 paise lower at Rs 116.20/25, which works out to a yield of 5.28 per cent. The 8.07 per cent 2017 paper touched a high of Rs 122.21 and closed at Rs 121.85, falling 35 paise. Traded volumes were at Rs 2,800 crore and liquidity was in plenty. Through the LAF window, the central bank accepted bids worth Rs 37,505 crore in the one-day repo and funds worth Rs 7,495 crore in the 14-day repo at the rate of 4.5 per cent.

More Stories on : Forex | Govt Bonds

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