The Hindu Business Line : Rupee range-bound; securities recover

MUMBAI: The rupee was marginally up against the dollar to close the Monday's trade at 45.2325/2375.On Friday, the domestic currency closed at 45.2425/2450.

The currency moved in a narrow range of two paise with thin trading levels. The Reserve Bank of India was seen mopping up supplies in the spot market, said a forex analyst.

The intra-day high of the rupee was 45.2275 while the intra-day low was 45.2425.

In the forwards market, the premia were mostly flat compared to opening levels with limited trading interest.

The six months premium closed lower at 0.42 per cent, down from Friday's close of 0.52 per cent and the one-year closed at 0.46 per cent (0.50 per cent).

G-Sec prices opened on a weak note, but closed higher on low trading volumes. With trading picking up in the last half an hour, prices gained by a marginal 10-15 paise.

Traded volumes were at Rs 2,200 crore with no triggers in the market. Dealers were sceptical of taking positions ahead of a holiday on Tuesday.

Some indicative papers were the 8.07 per cent 2017 paper, which opened at Rs 122.05 and closed at Rs 122.17. The 7.49 per cent 2017 paper opened at Rs 116.40 and closed at Rs 116.54. The 10-year benchmark, the 7.37 per cent 2014 paper closed with an yield of 5.25 per cent.

While liquidity was aplenty funds worth over Rs 46,000 crore were accepted through the LAF window at the repo rate of 4.5 per cent.